DGAP-News: Bolser Plc.: Bolser participates in a US$ 13 million contract for the construction of a 2,700 Kms. underwater river crossing pipeline
(firmenpresse) - Bolser Plc. / Miscellaneous
22.06.2010 09:01
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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(at)BolserPlc.com Vintners Place
www.BolserPlc.com 68 Upper Thames Street
London EC4V 3BJ, United Kingdom
U.K Company No. 05140206
22.06.2010 09:01 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
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