Waste Management Asiaphil Corporation Conducts Due Diligence of GEA Timber Ventures Inc.
(firmenpresse) - NEW YORK, NY -- (Marketwired) -- 04/24/13 -- VuQo Holdings Corporation (PINKSHEETS: VUQO) WMAC aka Lacto Asia Pacific Corporation, a member of the VuQo Holdings Group, is undertaking a due diligence study to acquire a major portion of GEA TIMBER VENTURES, INC., a company that has successfully pioneered in the establishment of commercial timber plantations. Last year, GEA has won two major reforestation programs involving mining companies worth P30.5 Million, one from Oceana Gold Mining Co. in Quirino Province, and the other from Zambales Diversified Metals Corporation-ENK Company in Zambales Province.
"With the biomass industry estimated to be at $693 Billion by 2015*, GEA Timbers' cutting edge tree planting technology will be able to supply to biomass power plants and thus positioning themselves to capitalize on this market," said Senior Forester Oscar Gendrano who is President of GEA Timbers.
The company is expecting to close two Supply Agreements for wood chips that will involve the commercial plantation of commercial tree forest of up to 80,000 hectares of indigenous people land, 55,000 hectares in Northeast Luzon and 25,000 hectares in Western Mindanao for a total of 65 MW power output before the end of this year. The capital investments on these plantations when completed will reach P80 Billion by the 8th year with expected revenue of P112 Billion.
GEA Timber Ventures Inc. operations has come to the attention of WMAC LAPC because the former uses fully the fortified organic fertilizer output of LAPC in their forestation projects, as well as tree seedlings of fast-growing timber specie coming from superior provenances. For these reasons, GEA plantations are expected to harvest much higher volumes of valuable timber (estimated at 50% - 100% more) than ordinary plantations.
"All the foregoing programs are also in support of the National Greening Program of the Department of Environment and Natural Resources and by acquiring a stake in GEA Timbers we would be adding value that would benefit our shareholders," said Roland Sianghio President and CEO VuQo Holdings.
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Datum: 24.04.2013 - 17:00 Uhr
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