Bolser PLC
Bolser Plc.: Bolser participates in a US$ 13 million contract for the construction of a 2,700 Kms. underwater river crossing pipeline
Bolser Plc. / Miscellaneous 22.06.2010 09:00 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Bolser participates in a US$ 13 million contract for the construction of a 2,700 Kms. underwater river crossing pipeline London, June 22nd, 2010, 9:00am (GMT). BOLSER PLC., ('BOLSER' ISIN: GB00B3BRH871, WKN: A0Q77H) a leading provider of construction and maintenance of pipelines and processing plants for the oil, gas and mining industry in Bolivia, Peru and Brazil, announces its nomination as subcontractor of TATCO Boring & Installation Est., from United Arab Emirates and one of the largest directional drilling (HDD) companies in the world, is part of a US$ 13 million contract signed with GasTransboliviano (GTB) for the construction of a 2,700 Km river crossing for a 32' gas pipeline, which is part of the Bolivia - Brazil export infrastructure. In the last few months Bolser and TATCO Boring & Installation Est., have successfully negotiated an agreement to participate in the bid process launched by GTB (GasTrans- Boliviano) for the construction of this 32' gas pipeline spanning 2,700 Km across the Rio Grande River. This will be the largest pipeline of this type to ever have been built in Bolivia or in South America. With its 41% participation in this project (US$. 5.8 million), Bolser will have achieved its projected sales for 2010, having a good possibility to exceed them with the award of other contracts that are still in the bidding process. The alliance between Bolser, one of Bolivia's most experienced companies in the construction and maintenance of pipelines, and TATCO, with over 5,000 drilling projects executed, will certainly assist GTB in reaching its objective of crossing the Rio Grande River with the highest technology and safety. BOLSER's CEO Pedro Pablo Hinojosa stated that its client, GTB, has shown confidence in the Company because of the high quality performance in the provision of the services required over the past years, which, in addition to TATCO's experience, can only result in a successful completion of the project. He also pointed out that the project will contribute approximately with US$. 1.3 million to Company's net income during the construction phase of the project in the next 6 months alone. About the Company Bolser PLC ('Bolser',) is a UK registered publicly company with its shares listed on the Frankfurt Stock Exchange (ISIN: GB00B3BRH871 - WKN: A0Q77H). Bolser PLC owns 99% of the subsidiary group made up of 3 companies operating in Bolivia, Peru and Brazil. 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. Contact Information Bolser Plc. - Registered in England & Wales ir@BolserPlc.com Vintners Place www.BolserPlc.com 68 Upper Thames Street London EC4V 3BJ, United Kingdom U.K Company No. 05140206 22.06.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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