Business
ATWEC Announces Major Acquisition and Lays Out Strategic Growth Plans
ATWEC Announces Major Acquisition and Lays Out Strategic Growth Plans.
About this update from Atwec Technologies, Inc.
[{"type":"text","content":"\n\n\n\nATWEC Announces Major Acquisition and Lays Out Strategic Growth Plans\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nATWEC Announces Major Acquisition and Lays Out Strategic Growth Plans\nPR Newswire\nTULSA, Okla., June 20, 2024\n\n\n\nATWEC TECHNOLOGIES, INC. (OTC: ATWT)\nTULSA, Okla. , June 20, 2024 /PRNewswire/ -- ATWEC Technologies, Inc. is announcing it has acquired The Birch Co, a leading Commercial and Residential Construction innovator in the Central U.S. with significant revenue and accretive cash flow. The Birch Co will add over $6 million in annual revenue.\n\nDarnell Stitts will remain on the Board of Directors, with Josh Ploch of The Birch Co. stepping in as the new CEO and Angus Martin as the new COO.\n\"The quality of work, financial strength, operational expertise, central location, and overall growth trajectory made this an ideal acquisition. I'm thrilled to have Josh and Angus step into their new leadership roles, which is expected to produce great results for our shareholders,\" said Darnell Stitts, the former CEO.\nThe company is announcing it completed this acquisition in a preferred stock deal, resulting in a control change.  This merger marks a significant milestone in the company's growth strategy, aiming to enhance its market presence and expand its product portfolio.\n\"We have enjoyed working with Darnell to bring ATWEC back into compliance. Now, we can start building and preparing a foundation for significant growth. We will be changing the company name to The Birch Co, divesting non-accretive assets, growing the core commercial and residential construction business, expanding operations, making new accretive acquisitions, and preparing for an audit and up-list. This strategic move aligns with our vision of becoming a leader in the Residential New Construction and \"Build to Rent\" space, and we are now well positioned for long-term success,\" said Josh Ploch, the newly appointed CEO.\nKey Highlights of the Merger include:\nExpanded Market Presence: The merger will significantly increase Birch Co's footprint in key markets, ...