Axial Vector Forms New Subsidiary to Make Acquisitions

Axial Vector Forms New Subsidiary to Make Acquisitions

Axial Vector Energy Corporation ("AVEC") (Pink Sheets: AXVC) (FWB: BAE1) today announced the formation of a wholly owned subsidiary; AVEC Strategic Acquisitions Corporation.
Mr. Sanjai Chhaunker, new President and CEO of Axial Vector, stated, “Our strategic plan calls for acquiring businesses that complement our core technology and allow our revenue stream to grow more rapidly. With the proper structure and financing now in place, we will proceed to finalize our discussions on companies that we have researched and identified as strategic to our plans.”
The new company will be headed by Mr. Chhaunker who will be working closely with Mr. Behzad Khakouei, Director Strategic planning of AVEC.
The companies being looked at have been monitored and examined closely by Mr. Khakouei and his team during the past six months. Mr. Khakouei commented, “Now that we have our new CEO and the subsequent establishment of AVEC’s new subsidiary, we are now in a position to execute the deals that will propel AVEC to the forefront of clean, efficient energy suppliers.”
*Source: ME NewsWire on behalf of Business Wire