Ramoil Management, Ltd. (OTC:RAMO) Groupe Concorde Developments, Inc. Announces Romania ALF Contract Signed
FORT LAUDERDALE, Fla., June 1, 2011 /PRNewswire/ -- GROUPE CONCORDE DEVELOPMENTS, INC. (GCD) would like announce that early this morning, the final contracts were signed in Bucharest, Romania for the development of the Assisted Living Facilities as reported in earlier dated press releases. We waited on issuing this press release until we had a physical copy in our hands and our representatives and attorneys in Europe sent it to us directly.
This contract is between Groupe Concorde Developments, Inc., a division of Ramoil Management, Ltd., and SC PROSERV IMPEX 94, SRL.
The Final ALF Contract Details
- Total building surface is 257,500 square meters (m2 ) or 2,771,707 ft2
- We will charge charging them EUR 975/m2 for a total of EUR 251,062,500.
- We will run about a 35% to 40% Gross Margin on this project.
- The surveyors and engineers have just been paid and are scheduled to commence work next Monday, June 6th, 2011.
The project listed above will be subsidized and supported by both the Romanian Government and European Union (E.U.).
Mr. Alex Taranu, Groupe Concorde Development's President and CEO, is quoted as saying, "Very early this morning we have received the signed MOU/Contract for the ALF and Nursing Homes facilities in Romania. Mr. Pascu, President and CEO of SC PROSERV IMPEX, and I are happy to begin this venture where we were able to negotiate an additional 5% equity participation in the deal (besides the development margin) after the completion of the construction that should have a nice impact on our books when we take the company holding the facilities public in Europe. We were the preferred and chosen development group out of four companies for five fundamental reasons: dedication to deliver facilities at a U.S. standard of operation, environmental foot print, heat exchange factor, price and highest customer service. In the beginning of April, Mr. Pascu and I attended an Assisted Living Facilities of America (ALFA) Conference in Orlando, Florida, where Mr. Pascu was able to see that for their target clients U.S. standard facilities are the only winner. It has been a difficult 6 months up to the signing of the contract; now we are on our way to implementation. I will keep you posted immediately on our future requests from other institutions on other projects."
Mr. Goeree, Ramoil Management's Chairman and CEO, is quoted as saying, "Now, I too, am excited!! This is a Great Day for Ramoil and its shareholders. Company and Shareholder Value remains our goal."
About Groupe Concorde Developments, Inc.
Groupe Concorde Developments, Inc. ("GCD"), of Fort Lauderdale, FL, has been in operation here in America since 2007 and in Europe as Concorde Groupe, GmbH since 2005. GCD has solar energy, wind energy and waste to energy projects already under contract, with Power Purchase Agreements (PPAs) also already negotiated and signed, on Government Projects, backed by the European Union (E.U.) in Romania and Bulgaria. Beyond this, GCD also has an "up to" 250 bed Environmentally Friendly, Green Assisted Living Facility (ALF) already Romanian Government and E.U. approved for development. This Green Friendly ALF concept is also under consideration for implementation in Florida and Arizona as well.
Each of these projects will be substantially underwritten by E.U. subsidies, of which, the granting of these subsidies, so long as all requirements and prerequisites are met, like the purchase of green energy in Europe, under E.U. Law, is a "Matter of Law."
About Ramoil Management, Ltd.
About Us Statement: Ramoil Management, Ltd. (RAMO), soon to be Enviro|Tech Capital, Ltd., is a development stage capital company, focusing on green energy projects, asset management and other niche technologies temporarily headquartered in Long Beach, California. Ramoil's present strategy is to identify buy-out and/or merger opportunities in the "Green / Renewable Energy Sector" and "Niche Technologies Sector" which will immediately impact and grow our asset and revenue base. Through our world-wide network of Brokers and Scientists we already have one and possibly more such projects identified and are working through the due diligence process on each of these projects.
This news release contains forward-looking statements made by RAMOIL MANAGEMENT, LTD. in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All such statements included in this press release, other than statements of historical fact, are forward-looking statements. Although Management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements. The following risk factors, among others, could cause actual results to differ materially from those described in any forward-looking statements. These risks and uncertainties include, but are not limited to, economic conditions, changes in the law or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Forward-looking statements are typically identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events.
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SOURCE Ramoil Management, Ltd.