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“Pernix recognizes that there are active and growing construction and power markets in Papua New Guinea, and we want to be a part of that. We have operations in place in the region already and want to use those resources to develop our presence in PNG.”
Nidal Z. Zayed, President & CEO
Pernix Group, Inc.
Pernix Group Expands its Pacific Rim Operations to Papua New Guinea
LOMBARD, IL — September 30, 2015 — Pernix Group, Inc. (OTCQB: PRXG), a construction company recognized by Engineering News Record for being one of the Top 50 American Contractors working abroad for the last four years in a row, announced their new subsidiary company in Papua New Guinea, Pernix (PNG) Limited. The establishment of Pernix (PNG) Limited is another step Pernix Group is taking to strengthen their presence in the Pacific Rim. Pernix Group has operated in the Pacific Rim since 1995 and currently has operations in Fiji, Guam, Vanuatu, and now in Papua New Guinea.
Pernix Group President and CEO, Nidal Zayed said, “We are excited for the opportunities available in PNG. Pernix recognizes that there are active and growing construction and power markets in Papua New Guinea, and we want to be a part of that. We have operations in place in the region already and want to use those resources to develop our presence in PNG. As always, our plan when we enter a new location is to partner with the local community so we will all benefit.”
Papua New Guinea will be the host for 2018 APEC Meeting which will see 21 leaders of member countries including the United States President attending this forum. APEC will create several opportunities in infrastructure development, construction and power generation. Pernix will proactively pursue these opportunities. The second phase of the ExxonMobil LNG Gas project will commence in 2016 and this will also create several high value opportunities for Pernix.
Because of its global presence and experience, Pernix will bring to PNG, and the Pacific region, cutting edge technology, expertise and leadership in construction, infrastructure development and power generation that will greatly benefit PNG and other Pacific Island economies.
Pernix has appointed Leonard Louma as the Local Director of Pernix (PNG) Limited. Mr. Louma has Bachelor’s Degree in Education from the University of Papua New Guinea, a Post-Graduate Diploma in Diplomatic Relations from the International Institute of Public Administration in Paris (France), has studied in the Fletcher School of Law and Diplomacy at Tufts University in Boston (U.S.) and has undertaken specialist training for Senior Executives in National and International Security from the John F. Kennedy School of Administration at Harvard University (U.S.). Mr. Louma has served in the Papua New Guinea Permanent Mission to the United Nations in New York and the Papua New Guinea Embassies in Paris (France) and Beijing (China). He was also Papua New Guinea’s Roving Ambassador to APEC, ASEAN and ESCAP. He was the Chairman of the 46th PIF Steering Committee, charged with the responsibility of organizing the PIF Leaders Meeting which took place earlier this month.
Pernix (PNG) Limited is currently in the process of setting up an office in the Port Moresby area.
About Pernix Group, Inc.
Pernix Group, Inc. is a construction company recognized by Engineering News-Record for being one of the Top 50 American Contractors Working Abroad for the last four years in a row. Headquartered in Lombard, Illinois, Pernix has operations in the United States, Asia, Africa, the Middle East, and the Pacific Rim. Pernix has full-scale construction and management capabilities, in three primary markets: Federal Government, Commercial & Industrial, and Power. Recently, Pernix Group expanded its domestic Commercial & Industrial operations by acquiring KBR Building Group, now known as BE&K Building Group. Pernix also expanded its Pacific operations this year by acquiring assets of DCK Pacific Guam, now operating as Pernix Guam LLC.
Pernix Group, Inc. common stock is traded on the over-the-counter quotation board (OTCQB) under the symbol PRXG. Additional information is available at www.pernixgroup.com.
Certain of the statements made in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and other factors that could cause or contribute to actual results differing materially from such forward-looking statements are discussed in greater detail in the Company’s filings with the U.S. Securities and Exchange Commission.
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