ORLANDO, Fla., Mar 02, 2012 (BUSINESS WIRE) -- Diversified Global Holdings Group Inc. /quotes/zigman/7142118 DGHG +28.79% announced today that it has engaged Bibicoff + MacInnis, Inc., a full service investor relations and strategic planning firm, to increase investment community awareness of the Company. Bibicoff + MacInnis will initially concentrate on developing and implementing communications strategies and programs specifically targeting the retail brokerage, institutional and investment banking communities.
Harvey Bibicoff, President and CEO of Bibicoff + MacInnis, stated, "Some of the reasons we find DGHG an interesting investment opportunity are its rapid growth since inception, its strong asset base, the depth & breadth of management's relationships, and the vast opportunities created by the robust commercial growth in Russia."
Through its subsidiaries, Diversified Global Holdings operates in three principal business segments -construction, real estate development and business consulting - primarily in Russia.
Wall Street's Growing Interest in Russia
-- Morgan Stanley recently committed the first $1billion to purchase a mall in Moscow from a $4 billion real estate fund;
-- Marriot, Schlumberger, Ikea, and Pepsi are examples of recent business activity in Russia;
-- J.P. Morgan Chase & Co., Citigroup Inc., and Goldman Sachs Group Inc. executives have all met with the Russian President to discuss ways to support the growing American investment interest;
-- Russian economy grew by over 4% last year;
-- Russia's national debt is approximately 8% of GDP (compared with 105 % for the U.S.);
-- Retail sales are rising; U.S. exports to Russia grew 11% in 2010 to nearly $6 billion.
Bibicoff continued, "Since its inception in 2009, Diversified Global Holdings has built itself into a meaningful construction and real estate development company (with multiple marquis projects) in Kazan, one of the most rapidly developing commercial centers in Russia. The Company already has the asset base and revenues to make it significant. We believe management has the expertise to direct and grow its existing businesses, the relationships to see many important growth opportunities in Russia, and the ability to capitalize on them."
Kazan, Russia's third capital which was rated the second best city for business by Forbes, has a $14 billion expansion budget. DGHG's latest Kazan project is a $30 million contract to complete construction of the Lily Stadium by the end of this year for the World Summer Universiade 2013 Games. Russia will host the 2014 Winter Olympics and DGHG expects to be awarded a contract to construct the Kazan Universiade training village for 10,000+ athletes. The Company is actively focused on additional opportunities, including the FIFA World Cup games held in Russia in 2018.
U.S. Investments in Russia Are Becoming Increasingly Attractive
-- Its GDP has been growing at over 4% per year;
-- Major U.S. companies are actively doing business in Russia;
-- It is not a member of the EU and is not struggling with those debt issues;
-- Investments in Kazan grew 40% in 2011, with 80% of the funds invested in the construction of business and residential real estate.
Company Outlook and Milestones
Richard Lloyd, CEO of Diversified Global Holdings Group Inc., said, "We look to Bibicoff + MacInnis to support our increasing activities in the areas of investment banking and investor communications. Now is the right time to step up our efforts in these areas. We have completed a series of successful acquisitions and are now focused on securing the financing to monetize our largest real estate asset -- a $184 million property in Kazan. With a 2012 current backlog in excess of $35 million, we are confident that this year we will exceed 2011 revenues. We look forward to executing on the growing number of substantial new business opportunities before us."
About Diversified Global Holdings Group Inc.
Diversified Global Holdings Group Inc. is a rapidly growing holdings company with strong subsidiaries worldwide. The Company has proven M&A expertise and intends to maintain its focus in three core divisions (construction, real estate development and business consulting); while expanding its operations in these sectors through acquisitions primarily in emerging markets. For more information, visit diversifiedglobalholdings.com.
Forward-Looking Statements
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
SOURCE: Diversified Global Holdings Group Inc.
Investor Relations Contact: Bibicoff + MacInnis, Inc. Terri MacInnis, Dir. of Investor Relations 818.379.8500 terri@bibimac.comCopyright Business Wire 2012
No comments:
Post a Comment