ORLANDO, Dec. 14, 2011 (GLOBE NEWSWIRE) -- Diversified Global Holdings Group Inc. (OTCBB:DGHG), a rapidly growing international holding company announced today that its newly acquired Russian construction subsidiary SibTechServis-N (STSN) has signed a Letter Of Intent (LOI) Agreement for $3.5 million with its long standing client Aerofuels. The agreement outlines construction work that would include STSN being the exclusive contractor for Aerofuels in 2012 and the work to include remodeling of aircraft hangars and offices as well as the construction of new hangars and offices at various Aerofuel locations throughout Russia.
The final contract is expected to be signed in February of 2012. "Aerofuels is an outstanding company. At our last meeting in May we discussed STSN taking on larger projects under the DGHG umbrella and I believe this is only the beginning of a very productive working relationship with Aerofuels," said Richard Lloyd, CEO of Diversified Global Holdings Group.
TZK Aerofuels provides fuel supplies to 800 locations worldwide and provides jet fuels to more than 70 air carriers within the Russian Federation, such as Aeroflot, S7 Airlines, Vladivostok Avia, Tesis, Atlant-Soyuz, the Russian Emergency Response Ministry and the Russian Ministry of Defense. For more information regarding Aerofuels, visit Aerofuels.ru (http://www.aerofuels.ru/ ).
About SibTechServis-N
SibTechServis-N was founded in 2006 and is located in Novosibirsk, Russia. STSN currently performs general construction for commercial energy projects and municipality infrastructure such as roads and airport runways. For additional information regarding SibTechServis-N, visit sts-sfo.ru (http://sts.sfo.ru).
About Diversified Global Holdings Group Inc
Diversified Global Holdings Group (OTCBB:DGHG) is a rapidly growing holdings company with strong subsidiaries worldwide. DGHG has proven M&A expertise and intends to continue its expansion in emerging markets by leveraging its operating divisions into additional major market sectors. For more information, visit DiversifiedGlobalHoldings.com (http://www.dghold.com).
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This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.