SOURCE: Cavico Corporation

December 07, 2006 09:00 ET

Cavico Completes U.S. $1.25M Song Tranh Bridge Project

Completion One Month Ahead of Schedule Reinforces Cavico's Capabilities for Larger Projects in the Future

LOS ANGELES, CA and HANOI, VIETNAM -- (MARKET WIRE) -- December 7, 2006 -- Cavico Corporation (PINKSHEETS: CVCP), a Vietnamese company working in the fields of infrastructure development, including the construction of hydropower facilities, dams, bridges, roads, mines and urban buildings throughout Vietnam and the Pacific Rim, announced today that its wholly owned subsidiary, Cavico Bridge & Tunnel, has completed the Song Tranh bridge project after eight months, which is a month ahead of schedule.

The bridge was turned over to the owner of the project, the Song Tranh hydropower plant (a project of Electricity of Vietnam), at a ceremony held on Dec. 2. The Song Tranh Bridge, which is 231 meters long, was engineered to be a permanent structure, meeting the universally accepted load-bearing requirements. This bridge is part of the Ho Chi Minh Transportation Infrastructure System. It spans the Tranh River, approximately 4.3 miles south of Bac Tra My and 35.4 miles from Highway 1A, where the Song Tranh hydropower plant is being constructed. When completed, the plant will provide 190 megawatts of power.

Mr. Ha Quang Bui, CEO of Cavico, said, "This bridge will help the construction of the Song Tranh hydropower plant move forward and improve the lives of the area's population. It also enables the relocation of more than 900 households that will be impacted by the plant. We are proud to have participated in this important endeavor."

Completion of this project follows several other major bridge projects that Cavico has been involved with, including the Dong Hai Bridge, the 2B Hai Van Bridge, the Se San 3 Bridge and the Buontuashar Bridge.

Bui added, "We are confident that our strong record of completing projects ahead of schedule and within budget will continue to create opportunities for Cavico. We will become involved in larger, more complex projects as the development of Vietnam's infrastructure continues over the next decade and beyond."

About Cavico Corporation

Founded in 2000, Cavico is a major infrastructure construction, infrastructure investment and natural resources conglomerate headquartered in Hanoi, Vietnam. Cavico is highly respected for its core competency in the construction of mission-critical infrastructure including hydroelectric plants, highways, bridges, tunnels and urban community developments. One of the company's primary competitive advantages is its ability to nurture a project "from concept through completion" with a vertical portfolio of interrelated investment, permitting, design, construction management and facility maintenance services. Cavico's project partners include top multi-national corporations and government organizations. The company employs more than 3,000 people. For more information, visit http://www.cavicocorp.com.

A profile for investors can be accessed at http://www.hawkassociates.com/cvcpprofile.aspx.

For investor relations questions, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail: info@hawkassociates.com, or visit http://www.americanmicrocaps.com or http://www.hawkassociates.com. Investors can also contact Mark Moline at (760) 458-4899, e-mail: mark@cinapsys.com.

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.

Contact Information

  • Contacts:

    Cavico Corporation Investor Relations
    Hawk Associates, Inc.
    Frank N. Hawkins, Jr.
    (305) 451-1888
    Email Contact

    Media and Communications
    Cinapsys, Inc.
    Mark Moline
    (760) 458-4899
    Email Contact

    For Cavico Corporation
    Timothy Pham
    (714) 843-5456
    Email Contact