CVCP — Cavico CorporationCavico Corporation (PINKSHEETS: CVCP) has obtained financing from Stone Financial Group, an US investment banking firm, has pledged to fund $1 million to the Vietnamese Cavico Corporation in order to help it expand operations in the developing country.
Esper Gullatt, a director at Stone Financial Group, said that his firm is looking forward to assisting Savico Corp with future growth and capital requirements.
“We are extremely pleased to be able to assist Cavico Corp at this early stage in their development of a US presence,” he said.
Cavico Corp is the first Vietnamese company to list on a US exchange, and this funding is the first step in accessing the capital markets there, said Timothy Pham, the firm’s assistant secretary.
Cavico Corp is running business in infrastructure construction, including building roads, bridges, underground works, urban areas, and hydropower and cement plants in Vietnam.
Currently, the company has total assets equivalent to over $64 million, consisting mainly of construction equipment from leading firms such as Caterpillar (America) and Atlas Copco (Sweden).
Regarding the Stone Financial Group, the firm specializes in private equity capital fund raising and mergers and acquisitions advisory to high growth companies. It provides pro-active, informed, full service deal management, including assistance with strategy and planning, finding and approaching investors or M&A targets, valuations and hands-on transaction execution.
Cavico Corporation has also signed a contract with Southern Hydropower Joint Stock Company that calls for Cavico to provide construction services and supply equipment for tunnel works, power waterways, intakes, tunnel access, surge tanks and other works for the Dasiat Hydropower Project. The value of the contract is approximately $4.36 million, with the duration of work estimated to be approximately 18 months.
Please refer to the company’s website at: http://www.cavicovn.com for additional information on the company.
Source:
Market WireCVCP — Cavico Corp.
17011 Beach Blvd.
Suite 1230
Huntington Beach, CA 92647
Website: http://www.cavicovn.com
Phone: 714-843-5456
Fax: 714-843-5451“Safe-Harbor” Statement
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including statements regarding potential sales, the success of the company’s business, as well as statements that include the word “believe” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Cavico Corporation to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Cavico Corporation 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, inability to deliver products when promised, inability of potential customers to pay for ordered products, and political and economic risks inherent in international trade.
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