Oct 22 2010
Videolocity International, Inc.'s (PINK SHEETS:VCTY) newly acquired subsidiary, Avtar Singh Construction Co. (P) Ltd. (ASCC) addressed the new developments within VCTY.
S. Avtar Singh Walia, Managing Director of ASCC, stated, "We are happy to say that the merger with VCTY came to a successful close. ASCC offers VCTY investors an impressive record of success and achievement, including the execution of projects of national importance in India.
VCTY's management saw great potential in the size and revenues that our company has to offer to VCTY and its shareholders. ASCC successfully grows its customer base and expands on the growing Indian construction market. This strategic combination is a favorable outcome for all. We are delighted with this merger and look forward to offer future growth to the VCTY shareholders.
Mina Mar Group did a great job accommodating all the necessary steps to successfully merge ASCC into VCTY, and we look forward to our ongoing cooperation regarding VCTY, ASCC's place within VCTY, and other corporate matters.
ASCC will have many good news for the VCTY shareholders in the future. We are currently working on several projects in India, including our so far largest project: the highway to the newly built Chandigarh International Airport. We are also currently bidding on several other projects, but we will be releasing information on these as the details unfold."
Source: http://www.videointernationalcorp.com/