Cavico Subsidiary Signs $1M Contract With Ha Tu Coal Mine
Cavico Corporation, Vietnam’s leading private company in construction of hydropower facilities, dams, bridges, roads, mines, urban buildings and other infrastructure projects, announced today its subsidiary, Cavico Mining, listed on the Ho Chi Minh Stock Exchange (HOSE), has signed a contract with the Ha Tu Coal Mine Company – Vietnam National Coal — Mineral Industries Group (VINACOMIN). The contract, which is valued at approximately US $1 million, is to muck and transport coal and rocks for the Ha Tu coal mine in Quang Ninh Province, North Vietnam. The contracted work is scheduled to commence in the fourth quarter of 2007.
Cavico Mining will use the most modern equipment, including Caterpillar (USA), Drilltech (USA) and Volvo (Sweden) brands, to complete this project. The equipment, which is owned by Cavico Mining, is currently being used successfully at the Nui Beo coal mine.
President of Cavico Mining, Binh Thanh Hua, said, “Our excellent work at Nui Beo coal mine has reinforced Cavico’s position as a leading infrastructure development company in Vietnam. Our reputation for providing professional services quickly and efficiently has enabled us to win this contract with Vietnam National Coal — Mineral Industries Group (VINACOMIN). We plan to continue pursuing projects in the coal mining industry and in other construction fields.”
Cavico Corporation’s stock is not currently traded. The company has submitted its Form 10 containing financials to the United States Securities and Exchange Commission (“SEC”). Once the SEC completes its review process of the Form 10, Cavico will file a Form 15c-211, through an NASD member firm, with the view of having Cavico’s common stock listed on the Over-the-Counter Bulletin Board. In order to obtain information about the company and news updates, investors may visit the company website, http://www.cavicocorp.com or its investor relations website at http://www.hawkassociates.com/cvcpprofile.aspx.
About Cavico Corp.
Cavico is a major infrastructure construction, infrastructure investment and natural resources conglomerate headquartered in Hanoi, Vietnam. Cavico is highly respected for its core competency in the construction of mission-critical infrastructure including hydroelectric plants, highways, bridges, tunnels, ports and urban community developments. One of the company’s primary competitive advantages is its ability to nurture a project “from concept through completion” with a vertical portfolio of interrelated investment, permitting, design, construction management and facility maintenance services. The company also joined with other domestic investment partners in forming an aircraft leasing company. Cavico’s project partners include top multi-national corporations and government organizations. The company employs more than 3,000 people. For more information, visit http://www.cavicocorp.com.
A profile for investors can be accessed at http://www.hawkassociates.com/cvcpprofile.aspx.
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Forward-Looking Statements
This press release contains certain forward-looking statements. These forward-looking statements can generally be identified as such because the context of the statement will include words such as Cavico plans, expects, should, believes, anticipates or words of similar import. Stockholders, potential investors and other readers are cautioned that these forward-looking statements are predictions based only on current information and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by the forward-looking statements. This press release speaks as of the date first set forth above and Cavico Corp. assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products and services, inability to deliver products and services when promised, inability of potential customers to pay for ordered products and services, and political and economic risks inherent in international trade.