BEVERLY HILLS, CA, Feb 26, 2008 (MARKET WIRE via COMTEX) -- SILVERADO FINANCIAL, INC. (PINKSHEETS: SLVO) is pleased to announce that it has acquired Media Technics Systems, Inc. ("MTS") of Ione, California.
MTS is an established industry leader in the manufacture and sale of high speed CD and DVD duplication equipment and replication services. MTS, together with Silverado's recently acquired subsidiary, Media Master Corporation ("MMC"), can now provide a broad turn-key solution for software manufactures and media companies looking to manufacture their own optical media or a one-stop shop for customers seeking complete fulfillment services from production of state-of-the-art masters to delivery at the end customer's doorstep.
MTS and MMC will be combined into one seamless operating unit, manufacturing hardware in California and providing fulfillment services from its facilities in New Jersey. Currently, MTS/MMC has over 5,000 customer-owned duplication masters on hand, but its current facilities cannot begin to supply the volume of product its customers are seeking to purchase. Toward that end, SLVO will be seeking to setup manufacturing operations in new, larger facilities in the Western United States, most likely in Northern Nevada or Northern California. SLVO has already undertaken a study to determine the best location for its new facilities, and will provide guidance as events warrant.
Finally, Silverado is pleased to announce that Rick Wilson, founder and CEO of MTS, has agreed to join SLVO's board of directors and to assume the role of Chief Executive Officer from Ari Bass, commencing March 10, 2008. "I'm very excited to be joining the management team at Silverado, and it's my aim to help Silverado grow during the coming year and beyond," stated Rick Wilson. Ari Bass, Silverado's current CEO and Chairman seconded that thought, adding, "Rick has spent the past ten years building a highly regarded company in the multi-billion dollar media publishing business and it is my belief that he will really make a difference for our shareholders."
Notes about forward-looking statements
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties.
Certain Statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied.
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