WDAS NEWS:
World Assurance Group (WDAS.OTC) Subsidiary Anav Holdings Corporation to Seek Growth at the Infrastructure Asia Conference & Exhibition 2010
UNESCAP Estimates Annual Infrastructure Overhaul of Asia in Excess of US$600 Billion
NEW YORK, NY, Nov. 18, 2009 (Marketwire) --
NEW YORK, NY -- (Marketwire) -- 11/18/09 -- World Assurance Group (PINKSHEETS: WDAS) announced today that its subsidiary Anav Holdings Corporation intends to pursue growth in Central, South and Latin Americas, Mexico, Africa, Middle East region and in the Asia-Pacific region particularly in Indonesia.
The "Infrastructure Asia Conference & Exhibition 2010" (IA 2010 -- www.infrastructureasia.com), will be held directly alongside and in conjunction with the UNESCAP "Asia Pacific Ministerial Conference for Infrastructure Development" (UNESCAP 2010 -- www.unescap.org) to be hosted by the Indonesian Government in Jakarta, April 14-17, 2010.
WDAS intends to attend the events which will be attended by official delegations from the country members of UNESCAP. Among the invitees are Ministers from each Asia Pacific country (including Russia), joined by over 500 senior infrastructure procurement officers and 7000 buyers from the region.
The importance of sustainable infrastructure for Asia has never been more important than today, as governments throughout Asia look to large scale infrastructure projects to deliver lasting development solutions for their countries' future growth. The success of the upcoming UNESCAP 2010 ultimately rests on the collaborations that can be achieved between public and private sector in attendance.
For WDAS, the timing and opportunity couldn't be better for promoting US - European industry as well. Over 30,000 sq ft will be available to the private sector within the exhibition with over 1,500 senior government and business leaders expected to attend the conference where the topic of discussion among the Ministers will be the UNESCAP estimates of a required annual infrastructure overhaul of Asia in excess of US$600 billion. As Indonesia has one of the largest populations it is a perfect platform for WDAS to promote itself and products throughout Asia.
Jonathan B. Morgan, the president of WDAS, stated, "Economic growth in the emerging markets may truly help fuel gains; there is quite a good likelihood of continuing growth for several years. WDAS intends to invest and bring products from North America and Europe to meet any need. It is critical for WDAS to participate in the growing emerging markets in order to establish itself as a global player in sustainable building products."
About World Assurance Group Inc (PINKSHEETS: WDAS)
World Assurance Group through its wholly owned subsidiary ANAV Holdings Corporation intends to participate in all areas of real estate transactions, including direct ownership, co-investment with other institutions or developers, as well as indirect participation through the acquisition of distressed debt and/or non-performing loans with the eventual goal of control of the underlying assets. For more information please visit www.anavholdings.com
About UNESCAP
United Nations Economic and Social Commission for Asia and the Pacific is the regional development arm of the United Nations for the Asia-Pacific region. With a membership of 62 Governments, 58 of which are in the region, and a geographical scope that stretches from Turkey in the west to the Pacific island nation of Kiribati in the east, and from the Russian Federation in the north to New Zealand in the south, ESCAP is the most comprehensive of the United Nations five regional commissions. It is also the largest United Nations body serving the Asia-Pacific region with over 600 staff. Established in 1947 with its headquarters in Bangkok, Thailand, ESCAP seeks to overcome some of the region's greatest challenges. For more information please visit www.unescap.org.
Forward-Looking Statements
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
Contact: Shelley Schonfeld VP Phone: (212) 613-6329 Email: info@anavholdings.com
Source: Marketwire (Nov 18, 2009 08:30:15 EST) News by QuoteMedia www.quotemedia.com
