ORLANDO, Fla., Aug. 17, 2009 (GLOBE NEWSWIRE) -- Promotora Valle Hermoso (OTCBB:PVHI), a housing, commercial and heavy industry construction company that also serves government oil and gas infrastructure projects, announced that it has filed a Definitive Information Statement with the Securities and Exchange Commission that provides notice of a Special Meeting of Stockholders to be held on September 14, 2009, at which the Company's stockholders will consider and vote on the proposal to change the name of the Company to UNR Holdings, Inc. The Company's majority stockholder has advised that he will vote his shares in favor of the name change.
UNR Holdings name represents the company's 42-year history as a profitably run heavy construction company that has served multiple market segments in Russia. The Company will continue to operate under the Promotora Valle Hermoso name until final approval of stockholders, following which the name change amendment to the Company's charter documents will be filed. The Company's trading symbol on the OTCBB would also be changed effective with FINRA approval.
Alexei Kim, President and CEO, Promotora Valle Hermoso, stated, "At Promotora Valle Hermoso, we are proud of our long-running heritage and strive to continue our growth and demonstrate our distinct leadership in the materials and heavy construction industry. Through consistent project execution and product innovation like Prudon 494, we have positioned the company to demonstrate its ability to accelerate its growth as UNR Holdings, Inc."
About Promotora Valle Hermoso:
Promotora Valle Hermoso is a holding company that has a 68% ownership in its subsidiary 494 UNR. 494 UNR is a diverse construction company with more than 40 years of success serving the Russian construction market specializing in general and infrastructure construction services such as designing/building of many-storied apartment buildings for middle and upper middle class families, office buildings, highways, bridges, producing of construction materials, concrete products. While PVHI is capable of complex construction projects, the company also serves Government infrastructure projects for oil and gas corporations, such as GAZPROM, TRANSNEFT. 494 UNR is one of the oldest and most stable companies located and operating in Moscow and the Moscow area, Russian Federation.
More detailed information on the housing projects can be found on the Promotora Valle Hermoso corporate website: http://www.unrhs.com.
The Promotora Valle Hermoso, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2777
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