DALLAS, July 14, 2006 (PRIMEZONE) -- John Pentony, Publisher of StockGuru.com, announced today that the web site has initiated Profile Coverage of Cavico Corporation (Pink Sheets:CVCP). Cavico is a Vietnamese engineering and construction company working in the fields of infrastructure development within Vietnam and throughout Asia and the Pacific Rim. The company's projects include hydropower facilities, dams, bridges, roads, mining and urban buildings. The company is headquartered in Hanoi, Vietnam, with offices throughout Vietnam and a satellite office in Australia.
Cavico Corporation Vietnam currently employs over 3,000 people working in the fields of infrastructure construction and engineering. This includes construction of roads, bridges and underground works. Currently the company is investing into hydropower and cement production plants in Vietnam.
Founded in 2000 with an initial capital investment of VND 60 billion (equivalent to US$4 million), Cavico has been growing very fast, ranking among the leading companies specializing in infrastructure projects in Vietnam. Revenues have grown from US$2.8 million in 2000 to revenues last year of US$45 million. Also, the company is investing in sectors with potential for high growth and stability in Vietnam, such as: Hydropower, Mining, Road Construction, etc. The company currently employs approximately 3000 people with an average age of 30; among them, there are more than 700 engineers.
Together with other state-owned corporations, Cavico has been awarded construction contracts for many critical hydropower projects in Vietnam. Currently the company has total assets that have grown to over US$64 million equivalent, consisting mainly of construction equipment from leading firms such as Caterpillar (America) and Atlas Copco (Sweden).
To view the StockGuru.com Profile for Cavico Corporation, please visit:
http://www.stockguru.com/profiles/cvcp/index.php
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"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 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.
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