SOURCE: Viva International, Inc.

February 09, 2007 10:15 ET

Viva International Intends to Acquire Private Battery Manufacturing & Distribution Company

TRAVERSE CITY, MI -- (MARKET WIRE) -- February 9, 2007 -- Viva International, Inc. (Viva) (OTCBB: VIVI) announced this morning that it is in negotiations for the acquisition of Advanced Energy Products (Advanced) of Furlong, Pennsylvania and has issued a letter of intent to purchase the assets and ongoing business of Advanced in a transaction estimated to approximate $300,000 and which is subject to customary adjustments resulting from an audit and inspection of the assets, books and records of Advanced Energy.

In November of 2006, Viva announced that it planned to develop and market a line of Lithium Ion (LI) aviation batteries.

LI batteries are currently being used on advanced airframes such as the Lockheed Martin F-22 and General Atomics Predator Drone. Current projections are being made for utilization of LI batteries on the next generation of airliners including the Boeing 777. The benefits of LI batteries are currently being validated in military application and include weight, space and power. Previous internal estimates of first year market potential revenues have been pegged at approximately $12 million.

Calvin Humphrey, Viva's CEO and Chairman, issued the following statement, "I am anxious to bring Advanced Energy into our organization of companies. I visualize Advanced providing us with manufacturing capability and 'in place' distribution structures. This will help us immensely is jump starting our lithium battery development program while obtaining a small, but profitable, Company having excess manufacturing capacity. Together with the Flight Test Associates management team of James Paquette and Alex Wolfe we see the acquisition of Advanced as a major part of the lithium battery development program."

About Viva

Recently Viva International Inc. (Viva) agreed to purchase of the assets of River Hawk Aviation, Inc. (River Hawk). Prior to this, Viva was primarily dedicated to the formation and development of airlines along with the acquisition of aviation-related operating businesses and airlines that displayed potential for restructuring into profitable and sustainable aviation-related growth concerns. The Company's primary involvement was with two developmental-stage carriers in regional markets from hubs in Puerto Rico and Santo Domingo, Dominican Republic. Our hub in Puerto Rico was maintained through our subsidiary Eastern Caribbean Airlines Corporation and our hub in the Dominican Republic was maintained by Viva Air Dominicana, S.A. Each of these companies remain as subsidiaries of the Company and are being evaluated to determine the best course of action to return them to active operations.

The Company has now expanded its focus to also participate as an aviation parts and components supplier in the broader aviation industry, currently specializing in Saab and other commuter aircraft parts and components as well as a provider of consulting services, marketing and appraisals to the aviation community. At present, the Company maintains executive offices in Michigan.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("the Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements which are based upon certain assumptions and describe future plans, strategies and expectations, are generally identifiable by the use of words as "believe," "expect," "intend," "anticipate," "project," or other similar expressions. These forward-looking statements relate to, among other things, future performance, and perceived opportunities in the market and statements regarding the Company's mission and vision. The Company's actual results, performance and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements. Additional factors that could materially affect these forward-looking statements and/or predictions include, among other things: (1) managing acquisitions and expansion of operations; (2) our ability to obtain necessary financing and to manage existing debt; (3) the risks inherent in the investigation, involvement and acquisition of a new business opportunity; (4) our ability to successfully complete financing and due diligence under the River Hawk Asset Purchase Agreement; (5) the Company's ability to comply with federal, state and local government and international regulations; and (6) other factors over which we have little or no control. Further information on potential factors that could affect Viva International, Inc. is found in the Company's Form 10-K and other documents filed with the U. S. Securities and Exchange Commission.

Contact Information

  • Contact:
    Viva International, Inc.
    (231) 932-7490