BOLOGNA, ITALY--(Marketwire - July 3, 2012) - Great Wall Builders Ltd. (GWBU) (or "the Company"), operating as "Start Technologies Europe s.r.o.", is pleased to announce that the Company was issued June 29th, 2012, confirmation of a EURO 40,000,000 Bank Guarantee ("Bank Guarantee") from Banca Nazionale del Lavoro SPA - Gruppo BNP Paribas ("BNL").
The BNL Bank Guarantee is attached and assigned to the Coopsette Soc Coop ("Coopsette") contract ("Contract"). As previously announced on June 7th, 2012, the Company reported the signed international distribution Contract with Coopsette for the Start Fuel Efficiency and Emission Device (FEED) units.
The Contract outlines a minimum purchase of EURO 120,000,000 in Start FEED units in the first three (3) years. As reported, the Contract outlines the sale of "Start 2", "Start 3" and "Start 4" units delivered quarterly starting with 9,300 units that will be delivered by September 30th, 2012 and a continued 9,300 units per quarter thereafter, for a total of 120,900 Start FEED units. Payment for the units is within 15 days of delivery as required in the BNL Bank Guarantee.
The units will be manufactured by Start Technologies Europe, a 100% owned subsidiary of GWBU, based in Topol'cani, Slovakia, the European distributor for the Start FEED units.
"The BNL Bank Guarantee will allow the Company to facilitate the manufacturing and production of the Start FEED units to facilitate the Coopsette order." states GWBU President and CEO, Mr. Daniele Brazzi, "The BNL relationship has opened a world of possibilities for our Company. We are very excited to enter the next phase of growth for the Company and will continue to provide regular updates to our potential clients and shareholders."
The Company will be filing the 8k public disclosure with the Securities and Exchange Commission in the coming days.
About BNL Gruppo BNP Paribas
Banca Nazionale del Lavoro SPA (BNL), founded in 1913, is a leading Italian banking group and among the best known brands in Italy. BNL has over 14,000 employees, nearly 3 million residential customers and 43,000 enterprises and institutions. In 2006 the BNL joined the BNP Paribas Group, a European leader in banking and financial services worldwide. BNL offers its customers a wide-range of products and services, banking, financial and insurance services, from traditional to more innovative, dedicated to different market segments: retail and private, corporate and public administration. BNL occupies leading positions in all forms of credit including project financing, leasing, factoring, cash management, international payments and services online. It also operates in the activities of international banking, financial risk management, and brokerage. For more information, please visit http://www.bnl.it/.
About Coopsette Soc Coop
Coopsette is involved in large public infrastructure projects, mainly in the rail markets, highway and sea, both as a general contractor as the owner of project financing. The story of Coopsette has its roots in the early twentieth century, when the territory of Reggio Emilia developed the first production cooperatives and labor, who worked in the construction industry. Founded in 1977, thanks to the unification of important cooperatives, Coopsette today is a company that remains in the field of building its core business - promotion of large projects of urban transformation, the establishment of infrastructure concession or contract, as well as the management of important manufacturing activities are now being experienced by Coopsette with the same with the same commitment and passion of a century ago. Coopsette operates mainly in the construction of large infrastructure projects, both in concession contracts, and projects of urban transformation. For more information, please visit http://www.coopsette.it/.
About Great Wall Builders, Ltd.
Great Wall Builders, Ltd. (operating as "Start Technologies Europe s.r.o." or "Start Technologies") owns the exclusive manufacturing and distribution rights to the Start Fuel Efficiency and Emission Device (FEED), an aftermarket device for internal combustion engines that enhances performance by causing fuel to combust more efficiently and completely. The technology uses a high-voltage electric current to break long-chain hydrocarbon molecules into shorter, lighter more volatile molecules. The patent-pending device produces a number of important benefits, including; lower emissions; reduced fuel consumption; and improved engine performance. The technology can be applied to a variety of different types of engines, both diesel and gasoline powered, heavy equipment as well as consumer vehicles. For more information, visit www.StartTechnologiesCorp.com.
This press release may contain forward-looking statements with respect to business conducted by Great Wall Builders, Ltd. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Such forward-looking statements include those that express plan, anticipation, intent, contingency, goals, targets, or future developments and/or otherwise are not statements of historical fact. The words "potentially", "anticipate", "could", "calls for", and similar expressions also identify forward-looking statements. The Company does not undertake to update any forward-looking statements. Factors that could affect actual results include, without limitation, risks associated with: the Company's ability to successfully obtain patents for its technology and the adequacy of such patents; the introduction of competitive technology; the Company's ability to develop, manufacture, license, or sell its products or product candidates; the Company's ability to enter into and successfully execute any license and collaborative agreements; the adequacy of the Company's capital resources and cash flow projections, the Company's ability to obtain sufficient financing to maintain the Company's planned operations, or the risk of bankruptcy; other risks that may be described under Certain Risks and Uncertainties Related to the Company's Business, as contained in the forthcoming Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.