Axia Building Technologies, Ltd. Signs New Contract for 1000 Homes and Government Buildings in Sri Lanka
Thursday April 27, 11:51 am ET
SAN DIEGO, April 27 /PRNewswire-FirstCall/ -- Axia Building Technologies, Ltd., a wholly owned subsidiary of Axia Group, Inc., (Pink Sheets: AXGJ - News), today announced that it has signed an agreement to provide materials, training and support to build 750 to 1,000 single family homes, and as many as 20 other buildings in Sri Lanka. This contract is with General Engineering Consultants International, Ltd., a Sri Lanka company and gives an exclusive to Axia for providing its panel technology, supplies, tools and other equipment for the projects.
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Stated Raj Janan, President of Axia Building Technologies, Inc., "This is a very significant contract that was executed as a result of the success that we had with the homes we built for SOS Kinderdrof in Eastern Sri Lanka. Over the next two to three years we will be helping to rebuild many areas of Sri Lanka that have been damaged."
Axia is currently using a cost-effective panel based technology to build homes and commercial buildings in the Southeast Asian country of Sri Lanka. Its initial project in the town of Batticoala is nearing completion and will provide new homes to more than 250 families who were displaced by the tsunami of 2004.
Added Raj Janan, "We have been working with General Engineering Consultants International on how to use the panel system and have had great success on some pilot projects. So we are pleased that they have the confidence in our technology and our company to sign this long term contract."
About Axia Group, Inc.
Axia Group, Inc. is a company dedicated to providing cost effective, temporary and permanent housing utilizing innovative technology solutions. The Company is currently building single family homes in the country of Sri Lanka. More information on Axia Group, Inc. can be found on the company web site at
www.axiagroup.info.Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of AXGJ officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future AXGJ actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and AXGJ has no specific intention to update these statements.
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