ORLANDO, Fla., Feb. 23, 2012 (GLOBE NEWSWIRE) -- Diversified Global Holdings Group Inc. (OTCBB:DGHG), an international holdings company, announced today that its most recently acquired Russian construction subsidiary SibTechServis-N (STSN) has signed a Letter Of Intent Agreement for approximately $7 million of construction work to be completed in 2012 with Eurosib LLC. The agreement is expected to be signed in the first quarter of 2012 and outlines construction of a government administrative building located in the city of Novosibirsk. Novosibirsk is Russia's third largest city by population trailing Moscow and St. Petersburg.
"According to the Governor of Novosibirsk, construction and economic growth have hit all-time highs in 2011 and they expect this trend to continue through 2013. We look forward to expanding our working relationship with the Novosibirsk government and companies like Eurosib and Aerofuels," said Richard Lloyd, CEO of Diversified Global Holdings Group.
About SibTechServis-N
SibTechServis-N (STSN) is a construction company located in Novosibirsk, Russia. STSN performs general construction such as roads, office buildings and airport runways for municipalities and commercial energy projects. For additional information regarding SibTechServis-N, visit sts-sfo.ru (http://sts.sfo.ru).
About Diversified Global Holdings Group
Diversified Global Holdings Group Inc. (OTCBB:DGHG) is a rapidly growing holdings company with strong subsidiaries worldwide. The Company has proven M&A expertise and intends to maintain its focus in three core divisions (construction, real estate development and business consulting); while expanding its operations in these sectors through acquisitions primarily in emerging markets. For more information, visit www.globenewswire.com/newsroom/ctr%3Fd=243406%26l=7%26a=diversifiedglobalholdings.com%26u=http%253A%252F%252Fdiversifiedglobalholdings.com%252F">diversifiedglobalholdings.com.
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.
The Diversified Global Holdings Group logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11065