NEW YORK, Feb. 28, 2014 (GLOBE NEWSWIRE) -- Evercel, Inc. (OTC:EVRC) sold certain assets and the operations of its subsidiary New England Crab Company Inc. to an affiliate of Foley Fish, one of New England's premier fish wholesalers. The business will operate under the name New England Crab Company and with its current management team. Foley Fish brings four generations of expertise, selling seafood to restaurants and specialty retail stores across the country. Evercel will participate in profits above a certain level generated and we expect to realize book value over the next 12 months.
New York City based Evercel is a publicly traded holding company that oversees and manages subsidiary companies. Operations currently include a business printing equipment manufacturer. Due to Evercel's limited number of shareholders and its decision at present not to register with the SEC, Evercel is not obligated to report financial information. Evercel chooses to voluntarily report information periodically.