SEATTLE, Aug. 21, 2009 (GLOBE NEWSWIRE) -- SARS Corporation, a Nevada corporation d/b/a FasTech Holdings, Inc. ("FasTech" the "Company") (Pink Sheets:SARO), announces the appointments of Mark Swank as Chairman and President, and Frank Bonadio as Director and Chief Executive Officer. The appointments are concurrent with the resignation of Geoff Meagher as Chairman and Interim CEO. Mr. Meagher's resignation arises in connection with the Company's completion of its transition from a remote assets tracking company to a mechanical and electrical construction, energy infrastructure, and facilities services company with remote automation technology, system control and monitoring in commercial spaces, as well in connection with the relocation of the Company's core operations to Illinois.
Mark Swank is the founder and Chairman of Swank Enterprises, Inc., which initiated the purchase of a conglomerate of Illinois based HVAC and mechanical and electrical construction companies that were merged into FasTech Services, Inc., a wholly owned subsidiary of SARS Corporation, d/b/a FasTech (the "Merger"). He was the President and CEO of Associated Mechanical, Inc.; R.J Power Plumbing and Heating; T.A. Brinkoetter and Sons, and Alternatech, Inc. Mr. Swank has been responsible for the overall strategy, direction and performance of the conglomerate and had been the majority shareholder prior to the Merger. Prior to founding Swank Enterprises, Mark held numerous senior management positions in several private and public technology companies across the US. He has a successful track record for delivering financial results for investors in each of these companies. Mr. Swank obtained a B.A. degree in Business from Sutherland University in California and a M.B.A. from Sutherland University where he graduated summa cum laude.
Frank Bonadio, 52, joined the Illinois conglomerate in 2008, and brings nearly 30 years management and operating experience in both private and public firms across the US. Mr. Bonadio is responsible for direct management of business operations and the execution of the Company's strategic plans. He oversees financial reporting, treasury, budgeting, planning and administrative functions. Prior to FasTech Services, Inc., Mr. Bonadio had been CEO, CFO, COO, and controller in various companies, and had responsibilities for managing external/internal reporting, cash, tax matters, internal and external financial issues. The last five years, Mr. Bonadio had been President of his own management consulting firm and received his MBA from University of Dayton in 1977, and a BS degree from Duquesne University (1972).
Mr. Swank commented, "I'm pleased with the manner in which the business of FasTech continues to progress and come together. The appointments of Frank and me signal another step forward in the evolution and growth of the business."
Frank Bonadio added, "This is an exciting time in the consolidation of the Company's Midwestern HVAC businesses. I look forward to coordinating the integration of these entities along with the technology operations located in the State of Washington, which monitoring and control technologies will provide our customers with enhanced efficiency and energy and cost savings."
About SARS Corporation ("SARS"):
SARS, d/b/a FasTech, a control systems contracting and services company, providing design, sales, installation services, and monitoring software to building owners and operators. We design, install, service innovative systems to create comfortable, efficient environments and facilitate the use of systems automation and controls monitoring in commercial spaces. Our integrated HVAC solutions reduce energy consumption and greenhouse gases while increasing operating efficiency. Additionally, we offer software solutions that enable building owners and management companies to manage the "control" assets remotely. This high level of visibility means any problems can be resolved faster, maintaining occupant comfort and minimizing deviations from energy saving strategies. FasTech systems include reduced operating costs, preserved system investments, increased equipment life, lowered maintenance costs, rapid problem identification, and improved operating efficiency.
The SARS Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5966
FasTech Services, Inc. ("FasTech Services"), a wholly owned subsidiary of SARS Corporation, formed by the consolidation of a conglomerate of mechanical and electrical construction, energy infrastructure, and facilities services companies that design, install, service and monitor innovative systems that create comfortable, efficient facility environment. It also installs building automation technology for commercial spaces in various industries, as well monitors and controls these systems from off-site locations. FasTech Services specifically provides services for industrial, residential and commercial heating ventilation and air conditioning ("HVAC") systems as well as plumbing, piping and necessary fixtures. The individual companies acquired included Environmental Insulation, Inc., ESDD, LLC, Alternatech, Inc., Swank Enterprises, Inc. d/b/a Art & Print, Inc., Associated Mechanical, Inc. and R.J. Power Plumbing & Heating Company. Visit our website at www.fastech-inc.com.
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Safe Harbor Statement
This Press Release contains forward-looking statements generally identified because the context will include the words such as "expects," "should," "believes," "anticipates" or words of similar import. Forward-looking statements are subject to certain risks and uncertainties including the financial performance of SARS which could cause actual results, performance or achievements of SARS to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.
This Press Release does not constitute or form any part of any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for any securities in any jurisdiction, nor shall it (or any part of it) or the fact of its distribution form the basis of, or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment therefore.
"Forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995, may be included in this press release. These statements relate to future events and/or our future financial performance. These predictions may differ materially from actual future events or results. SARS disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Please refer to the documents filed by SARS with the Securities and Exchange Commission, which identify important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to, risks associated with our ability to: (i) increase revenues, (ii) obtain profitability, (iii) obtain additional financing, (iv) react to actions of our competitors, (v) develop new services and markets for our services, remain in compliance with regulatory rules and regulations and to integrate such services with the products and services of our co-joint ventures and (vi) foresee and make necessary changes to our business strategies.