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HANOI, Vietnam, Nov. 12, 2010 (GLOBE NEWSWIRE) --
Cavico Corp. (Nasdaq:CAVO), a leading infrastructure development company based in Vietnam, today announced that it has engaged RedChip Companies, Inc. to lead its public and investor relations efforts.
"We were impressed by RedChip's successful history of increasing visibility for small-cap companies, as well as their strong multimedia platform of products and services," said Mr. Ha Quang Bui , CEO of Cavico. "We look forward to working with RedChip's highly professional team to broaden awareness of Cavico among prospective investors."
"We are excited to have the opportunity to represent Cavico, the first NASDAQ-listed Vietnamese company," said Dave Gentry, President and CEO of RedChip Companies, Inc. "Vietnam's rapid economic development has led to a dramatic increase in infrastructure spending as the nation seeks to strengthen its position in the global economy. Cavico is one of Vietnam's largest engineering and construction contractors and is benefiting directly from Vietnam's growth and strong demand of infrastructure and civil construction activities."
Mr. Gentry continued, "The Vietnamese economy expanded by over 7.0% in the third quarter, and the government recently raised its GDP growth forecast for this year to 6.7% from 6.5%. Part of this growth is from increased government spending on infrastructure, transportation and power development. Cavico is well-positioned to benefit from the growth in the economy and capture a significant share of new public works contracts. The Company has a strong relationship with the Vietnamese government and other construction contractors, as well as a proven ability to execute large-scale infrastructure and construction projects. We plan to launch a comprehensive investor and media relations program to introduce Cavico to our international investor network."
About Cavico Corp.
Cavico Corp. is focused on large infrastructure projects, which include the construction of hydropower facilities, dams, bridges, tunnels, roads, mines and urban buildings. Cavico is also making investments in hydropower facilities, cement production plants, mineral exploration and urban developments in Vietnam. The company employs more than 3,000 employees on projects worldwide, with offices throughout Vietnam and a satellite office in Australia. The Company has two subsidiaries, Cavico Mining (MCV) and Cavico Industry and Mineral (CMI), which are listed in Vietnam on the Ho Chi Minh and Hanoi Stock Exchanges.