Company Maintains Course of Driving Shareholder Value with Aggressive Focus on Marine Sector
Sep 17, 2007 - Marine Growth Ventures, Inc. ("MGV") (OTCBB:MGRW) a diversified marine holding company, today released additional details regarding its ongoing Strategic Initiatives.
MGV was created by Craig Hodgkins, President and Chief Executive Officer, Tim Levensaler, Chief Operating Officer, and a group of investors at Farwell Equity Partners and Crivello Group after discovering a number of exceptional opportunities in marine related businesses.
MGV is currently focused on identifying, acquiring, and growing operating businesses that can provide significant and immediate opportunities for growth. These efforts cumulated earlier this year with MGV's acquisition of the M\V Pacific Aurora, a Canadian flagged vessel and MGV's registration with the State of Florida to begin Timeshare sales.
Given the promise of various marine businesses, MGV's strategic equity investors were able to attract and assemble a high quality senior management team to execute upon immediate and future opportunities.
MGV has set forth a four-part strategic plan for growing revenue and earnings during 2008:
1. Successfully execute upon its existing core business of selling Timeshare units on the M\V Pacific Aurora, and the acquisition and sale of additional Timeshare projects to continue its expansion in this marine sector.
2. Given the legal and economic complexities of marine assets, there are a limited number of lenders providing financing to this sector. As a result, firms that can understand and manage this asset class can achieve above market margins. Building upon its core competencies, MGV will pursue the acquisition of a specialty finance company to accelerate its entrance into the marine finance sector.
3. The acquisition, joint venture, or lease of aggregate mines in the Caribbean basin. Generally, throughout the southeastern United States, there is a scarcity of aggregate materials (stone, gravel, sand and other aggregates) for commercial, public, and infrastructure projects. This scarcity has developed over an extended period due to the completion of existing mines and changing environmental laws. MGV's management believes there are sites within the Caribbean basin that can be profitably mined in an environmentally sound manner and transported to the southeastern United States by barges such that MGV can achieve above market margins.
4. The transportation of feedstock for biofuel plants in the United States. Given the growing number of biodiesel and ethanol plants that are in production or under development in the United States, there is a growing opportunity to source and transport feedstock for such plants. The seaways between countries' key ports are the highways of the future to deliver such feedstock. Vessels that are managed well, efficient, and fast are the key to United States' ability to create energy independence. MGV's team of professionals possess decades of experience in worldwide ship management. MGV strives for unique and efficient solutions for these emerging market opportunities.
"Our board of directors, strategic equity investors and management team has thoughtfully developed a dynamic plan to provide growth in the marine sector," stated Craig Hodgkins, President and Chief Executive Officer of Marine Growth Ventures, Inc. "I invite our shareholders and prospective shareholders to carefully review our plans in the marine sector. We are committed to rapidly increasing shareholder value and believe MGV will generate strong returns in future years."
Summary
MGV is a diversified marine holding company that optimizes the risk/reward profile of its business model by developing multiple revenue streams by targeting undervalued assets in the sectors include finance & charter, aggregates, ship management, and freight.
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Safe Harbor Statement Under the Private Securities Litigation Act of 1995 -- With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of MGRW could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, and such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.
NOTE TO EDITORS: There is a backward slash in the company name between M and V Pacific Aurora. This symbol may not appear properly in some systems.
