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Largo Vista Announces Completion of Second Pipeline Station In Zunyi, China; In
Negotiations for Two More Pipelines
NEWPORT BEACH, Calif., March 2 /PRNewswire-FirstCall/ -- Largo Vista Group,
Ltd. (BULLETIN BOARD: LGOV) , (http://www.largovista.com/) an international
energy trading and service company with headquarters in the U.S. and offices in
China and Vietnam, today announced that its second liquid petroleum gas (LPG)
pipeline station supplying a residential complex in Zunyi, China, is complete.
Largo Vista said it is in negotiations to build two more pipeline projects in
Zunyi, Projects 3 & 4, and enjoys the full support of the local government in
this effort. "The first pipeline project built in Zunyi is now completely paid
for, 100 percent sold out to more than 1,000 condominium owners, and Largo Vista
now will be able to supply this development retail LPG for 40 years on an
exclusive basis," said Mr. Li Chuming, the Company's Representative in China.
Mr. Li explained that while thefirst pipeline project is designed to be used by
every condominium owner, only 40 percent of these units are currently occupied.
"The lack of occupancy has kept Largo Vista from being profitable, but it is
important to note that we are locked in to provide all these residences LPG for
40 years, which will mean significant income for the Company once all the buyers
move into their new homes."
"We had a brief payment problem, and stopped construction on the second
pipeline, but we are pleased that weresolved those issues," Mr. Li said. "City
officials in Zunyi realize that LPG service means higher prestige and value for
these residences, and we have won significant praise for this project as an
affordable, environmentally sound alternative to the traditional use of coal or
wood to cook and heat the home." Zunyi is in Guizhou Province with a population
of more than 40 million people.
Largo Vista also announced that it will post on its Web site,
http://www.largovista.com/, a President's Letter bringing shareholders
up-to-date on the Company's progress and business strategies. Largo Vista is
headquartered in Newport Beach, Ca., with offices in Vietnam and China.
Forward-Looking Statements
Certain statements included herein may contain forward-looking information
within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6
under the Securities Exchange Act of 1934, and are subject to the safe harbor
created by those rules. All statements, other than statements of fact,
including, without limitation, statements regarding potential future plans and
objectives of the company, are forward-looking statements that involve risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from those
anticipated in such statements. The Company's actual results could differ
materially from those anticipated in such forward-looking statements as a result
of a number of factors. These risks and uncertainties, and certain other
related factors, are discussed in the Company's Form 10-KSB, Form 10-QSB and
other filings with the Securities and Exchange Commission. These
forward-looking statements are made as of this date and the Company assumes no
obligation to update such forward- looking statements. These risks and
uncertainties, and certain other related factors, are discussed in the Company's
Form 10-K, Form 10-Q and other filings with the Securities and Exchange
Commission. Theseforward-looking statements are made as of the date of this
release and the Company assumes no obligation to update such forward- looking
statements.
DATASOURCE: Largo Vista Group, Ltd.
CONTACT: Paul Knopick of E & E Communications, +1-949-707-5365, for
Largo Vista Group, Ltd.
Web site: http://www.largovista.com/