Printer Friendly

EXOR NEGOTIATES FINAL STAGES OF NEW U.S.$250 MILLION PROJECT IN EASTERN EUROPE

 VANCOUVER, British Columbia, Aug. 12 /PRNewswire/ -- EXOR (OTC Bulletin Board: EXDIF; Vancouver: EDI) is in the final stages of negotiations for a contract that will give EXOR the major equity position in a project in Eastern Europe in excess of U.S.$250 million, the company announced today.
 Project negotiations include available financing in U.S. dollars for the physical facilities, equipment, inventory and training. The three major partners in the contract see the project as an excellent vehicle to provide needed redeployment opportunities for people and support for the emerging market economy.
 EXOR will provide technology transfer/know how, manufacturing, marketing and training beginning with an initial inventory of 5,000 units of EXOR's All In One Business Solution integrated computer systems. EXOR's All in One design incorporates components from U.S. leaders in the industry who have agreed to work with EXOR and who can guarantee quality on EXOR delivery of large quantities: Lexmark/IBM, Microsoft, AMI/American Megatrends and more.
 EXOR will facilitate the project financing of U.S.$250 million in conjunction with a major national Eastern European bank on the basis of acceptable guarantees provided by EXOR in co-operation with Canadian Biomass Capital Corp. and a European Trust.
 EXOR is well-positioned to take lead responsibility for managing the design and development of the project. EXOR has already completed international million dollar contracts successfully in Eastern Europe, including a $2.6 million technology contract in the oil industry in Russia.
 EXOR specializes in software development, the manufacturing of integrated computer systems, the design and installation of networking systems and merchant banking activities. EXOR's strength is its capacity to combine technologies and software engineering solutions with EXOR's premier private labeling strategy on the world markets.
 As a result of EXOR's success in negotiating high technology projects in the international financial arena, EXOR took steps to consolidate their associations with established European financial institutions to the degree that EXOR can provide A to AAA rated collateral for large project multi-million dollar funding.
 Agreements among all three major partners for this project in Eastern Europe are expected to be finalized soon.
 -0- 8/12/93
 /CONTACT: William Jay Elder, president, of EXOR, 604-739-8208/
 (EXDIF)


CO: EXOR ST: British Columbia IN: CPR SU:

SB-BP -- SE012 -- 2258 08/12/93 16:21 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 12, 1993
Words:382
Previous Article:ANTIVIRALS INC. ANNOUNCES THREE NEW ANTISENSE PATENTS ISSUED
Next Article:TRIAD REPORTS NO FUNDAMENTAL REASON FOR STOCK PRICE DECLINE
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters