MIAMI, Oct. 13, 2004 (PRIMEZONE) -- Azur International, Inc., (Pink Sheets:AZRI), an international hotel, resort and luxury residential development company, announced today the formation of Azur Development UK, Plc, a wholly owned subsidiary. Azur plans to use Azur Development to make acquisitions in the United Kingdom.
Azur has appointed John Duggan as the Chairman and Chief Executive Officer of its subsidiary. In addition, Duggan has been added to Azur International's Board of Directors.
"I am proud to join the Azur team and take on the responsibility of its newly formed UK subsidiary," said Duggan. "I greatly look forward to helping drive growth and bringing Azur to the next level," he added.
Duggan joins Azur, bringing extensive experience in home building and commercial property development, including a partnership in a company acquired by U.S. home building giant, Centex Corporation. He has held the position of chief executive overseeing three large publicly listed home building companies in the United Kingdom, with valuations up to 1.6 billion pounds sterling. Duggan will be leading Azur Development UK's focus on home building and commercial development, as well as overseeing the company's existing European projects.
About Azur International, Inc.
Azur International, Inc., based in Miami, Florida, is a publicly traded company that currently develops and markets luxury residential and resort properties. Additionally, there are several real estate projects under consideration, including the purchase and development of luxury hotels and resorts, domestically and internationally, and land purchases in strategic areas that will provide inventory for future development or sale. For additional information about Azur International, Inc., go to www.Azur-Int.com.
Safe Harbor
The Private Securities Litigation Reform Act of 1995 may provide a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of Azur International, Inc. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.