SiteWorks Building Announces USD10,000,000 GMP Contract for Approx. 1,100 Affordable Units
Friday October 7, 6:00 pm ET
MIAMI, FL--(MARKET WIRE)--Oct 7, 2005 -- Management of SiteWorks, Inc. (OTC BB:SWKJ.OB - News), a construction and real estate development company, announced today that the company has signed a guaranteed maximum Price Contract with Knightsbridge Law Co. Ltd, a Thai firm, for the construction of affordable housing in Lopburi Province, Thailand.
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CEO C. Michael Nurse stated, "These houses are built pursuant to a government initiative for low cost units. This contract which has a GMP (guaranteed maximum price) of 10,000,000 USD is the first of several projects we expect to secure through the help of our local business development agent Prestige Asia. We expect work to begin within the next several weeks on this particular contract. We are in negotiations on a number of other projects and we expect the status of those discussions will be announced in the near future."
SiteWorks, Inc. is a Florida company engaged in the business of total site and built environment solutions. The company's core business is the construction of semi custom housing developments condo conversions, and middle-income multifamily buildings. SiteWorks, Inc. also performs construction management and general construction services. Other services provided include the marketing and distribution of innovative construction related and other technology products.
This press release contains "forward-looking" statements as that term is defined by Section 27A of the Securities Act of 1933, as amended, (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended, (the "Exchange Act"). All statements that are included in this press release other than statements of historical fact are "forward-looking" statements. Although SiteWorks believes that the expectations reflecting in these forward-looking statements are reasonable, it can give no assurance that such expectations will materialize. Important factors could cause actual results to differ materially from the expectations as disclosed herein, including without limitation, in conjunction with these forward-looking statements contained in this press release.
