2013-02-21 17:32:41 -
NEW YORK, NY -- (Marketwire) -- 02/21/13 -- VuQo Holdings Corp.'s (PINKSHEETS: VUQO) recent acquisition, Waste Management Asia Corporation, is geared to complete its earlier projected sales and installation program for solid waste facilities in the Philippines. With the introduction of an initial US$3.0 million fund out of a projected US $25.0 million investment program, WMAC is expected to start its first project management of the 80 ton per day Material Recovery and Composting Facility of Iligan City. This facility purchased the equipment from WMAC (formerly Lacto Asia Pacific Corporation) and was successfully completed in March 2011. The installation was fully commissioned and inaugurated last quarter of 2012 and the operations will be turned over for private management of WMAC. This is expected to produce annual revenues of US $0.980 million for WMAC.
WMAC and VuQo Holdings have completed financial discussions with the representative of Gibraltar Capital during their visit last week to Manila. Financial guaranty arrangements will be concluded, and will be presented to Philippine local banks, signifying Gibraltar Capital's full support to the WMAC solid waste programs.
Subsequently, the negotiations for the use of the Lipa City old dump site will lead to the fabrication, construction and start-up of the first BOO Tipping Fee contract with the City Government of Lipa Batangas in which another 80 ton MRCF will generate $1.7 million annual revenues to WMAC.
The remainder of the 1Q/2Q transactions will be outright sales of solid waste equipment to the City government of Iloilo, the Municipal Government of Lemery Batangas, the Municipal Government of Malvar Batangas, the Barangay Council of Tubod Iligan, and 50,000 bags of organic fertilizers, for a projected direct sales of $1.0 million.
The projected annual net profit for the above operations is expected at $650,000 this year.
About VuQo Holdings Corporation
VuQo Holdings Corporation is a diversified holdings company that acquires emerging companies in key industries where rapid revenue growth and market share penetration are poised for significant gains. Our main focus is to acquire, invest and partner with companies that have competent management teams with provable experience in their industry and have developed products or services that have a unique edge in their marketplace. Our evaluation matrix and consultant screening process help us filter hundreds of opportunities to effectively pick companies that can grow and evolve into high performing growth entities.
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