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08.12.2010
Urban Development Project allows Bolser to monetize idle fixed assets and improve profitability
Urban Development Project allows Bolser to monetize idle fixed assets and improve profitability
London, Dec 8, 2010, 9:00am (GMT). Bolser Plc., BOLSER PLC., (“BOLSER”) UKG.F / ISIN:GB00B3BRH871 / WKN: A0Q77H), a leading provider of construction and maintenance of pipelines and processing plants for the oil and gas industry in Bolivia, Peru and Brazil, announced that the Company has signed US$. 5 million project agreement with the Police Housing Cooperative (Cooperativa de Vivienda Policial) to develop the construction of a housing complex on land owned by Bolser in the city of Santa Cruz.
This agreement, named Santiesteban Housing Project, which includes both the design and construction of 177 houses for police officers and clerks, will improve Bolser’s liquidity by transforming idle fixed assets (land) into current assets (cash) and will generate a profit margin from construction of 20% or US$.1 million dollar in the next 18 months.
This agreement between BOLSER and the Police Housing Cooperative will allow the Company to broaden its civil construction activities and gain experience in the local market of Bolivia.
After a long negotiation process, an agreement has been signed between BOLSER and the Police Housing Cooperative where the Company insures that the project will have an important and positive social impact by improving the housing standards for the police employees that will become homeowners.
About the Company
Bolser PLC (“Bolser”,) is a UK registered publicly company with its shares listed on the Frankfurt Stock Exchange (UKG.F) (ISIN: GB00B3BRH871) (WKN: A0Q77H). Bolser PLC owns 99% of the subsidiary group made up of 3 companies. Bolser Ltd., (Bolivian Oil Services Ltda.) was founded in 1975 by the Hinojosa family. The Company and its more than 300 employees has been a long time leader in the oil, gas and mining infrastructure construction industry. Bolser is a specialist in the construction and maintenance of pipelines, roads, bridges, manufacturing and storage sites of various types. The Company is known by its clients for its excellence in the application of quality, health, safety and environment systems with international standards such as ISO 9001:2000, ISO 14001:2004 and OSHAS 18001:1999. Bolser has a thorough understanding of the logistical characteristic of the region and is currently focused on participating in the expansive demand for oil and natural gas infrastructure of the Southern Cone, specifically in Bolivia, Brazil and Peru.
Further information can be found on the Bolser website under: www.BolserPlc.com
Disclaimer
This press release contains forward-looking statements based on beliefs of Bolser Plc management. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend", "plan" and "project" are intended to identify forward-looking statements. Such statements reflect the views of Bolser as of the date made with respect to future events and are subject to risks and uncertainties. Many factors could cause actual results to be materially different from those projected here, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services and changes in business strategy. Bolser disclaims any intention or obligation to update these forward-looking statements.
Bolser Plc. - Registered in England & Wales Contact Information
Vintners Place ir@BolserPlc.com
68 Upper Thames Street www.BolserPlc.com
London EC4V 3BJ, United Kingdom
U.K Company No. 05140206
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London, Dec 8, 2010, 9:00am (GMT). Bolser Plc., BOLSER PLC., (“BOLSER”) UKG.F / ISIN:GB00B3BRH871 / WKN: A0Q77H), a leading provider of construction and maintenance of pipelines and processing plants for the oil and gas industry in Bolivia, Peru and Brazil, announced that the Company has signed US$. 5 million project agreement with the Police Housing Cooperative (Cooperativa de Vivienda Policial) to develop the construction of a housing complex on land owned by Bolser in the city of Santa Cruz.
This agreement, named Santiesteban Housing Project, which includes both the design and construction of 177 houses for police officers and clerks, will improve Bolser’s liquidity by transforming idle fixed assets (land) into current assets (cash) and will generate a profit margin from construction of 20% or US$.1 million dollar in the next 18 months.
This agreement between BOLSER and the Police Housing Cooperative will allow the Company to broaden its civil construction activities and gain experience in the local market of Bolivia.
After a long negotiation process, an agreement has been signed between BOLSER and the Police Housing Cooperative where the Company insures that the project will have an important and positive social impact by improving the housing standards for the police employees that will become homeowners.
About the Company
Bolser PLC (“Bolser”,) is a UK registered publicly company with its shares listed on the Frankfurt Stock Exchange (UKG.F) (ISIN: GB00B3BRH871) (WKN: A0Q77H). Bolser PLC owns 99% of the subsidiary group made up of 3 companies. Bolser Ltd., (Bolivian Oil Services Ltda.) was founded in 1975 by the Hinojosa family. The Company and its more than 300 employees has been a long time leader in the oil, gas and mining infrastructure construction industry. Bolser is a specialist in the construction and maintenance of pipelines, roads, bridges, manufacturing and storage sites of various types. The Company is known by its clients for its excellence in the application of quality, health, safety and environment systems with international standards such as ISO 9001:2000, ISO 14001:2004 and OSHAS 18001:1999. Bolser has a thorough understanding of the logistical characteristic of the region and is currently focused on participating in the expansive demand for oil and natural gas infrastructure of the Southern Cone, specifically in Bolivia, Brazil and Peru.
Further information can be found on the Bolser website under: www.BolserPlc.com
Disclaimer
This press release contains forward-looking statements based on beliefs of Bolser Plc management. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend", "plan" and "project" are intended to identify forward-looking statements. Such statements reflect the views of Bolser as of the date made with respect to future events and are subject to risks and uncertainties. Many factors could cause actual results to be materially different from those projected here, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services and changes in business strategy. Bolser disclaims any intention or obligation to update these forward-looking statements.
Bolser Plc. - Registered in England & Wales Contact Information
Vintners Place ir@BolserPlc.com
68 Upper Thames Street www.BolserPlc.com
London EC4V 3BJ, United Kingdom
U.K Company No. 05140206
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=GB00B3BRH871">http://www.irw-press.com/alert_subscription.php?lang=en&isin=GB00B3BRH871</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.