|By Marketwired .||
|December 13, 2012 04:30 PM EST||
NEW YORK, NY -- (Marketwire) -- 12/13/12 -- VuQo Holdings Corporation (PINKSHEETS: VUQO) announced the completion of its acquisition and terms of the transaction of Waste Management Asia Corporation under which VuQo Holdings Corporation will own all of its outstanding shares via an all-stock transaction. VuQo's board of directors has also authorized to include full separation of VuQo Beverages and El Coco Wine and Spirits Distillery through a spin-off and will become private companies retaining Mr. Rene Esteban, who will be the Vice President. Ms. Felicitas Garcia is stepping down as Chief Financial Officer and will be replaced by Mr. Angel Gonzales. Mr. Gonzales is a Certified Public Accountant, who brings over two decades of experience in public and corporate accounting. He will be responsible for VuQo's global finance functions including financial analysis, tax, internal controls, and audit, treasury, and investor relations.
The new Chief Executive Officer will now be Mr. Rolando L. Sianghio, owner administrator of Waste Management Asia Corporation (formerly Lacto Asia Pacific Corporation), an environmental fellow in the United States-Asia Environmental Partnership (US-AEP Program). Mr. Sianghio has a proven track record of execution of over 50 years' business experience having been Chief Accountant and Division Sales Manager for IBM Philippines as well as Methods and Audits Supervisor for IBM World Trade Asia Pacific Corporation covering operations in Singapore, Malaysia, Indonesia and Thailand, and his own family businesses. Adding to his prestigious career was working for an Ayala Corporation financial subsidiary, assigned to rehabilitate three distressed acquired companies. Ayala Corporation is one of the country's oldest and largest conglomerates with a very diversified portfolio including investments in retail, real estate, banking, telecommunications, water infrastructure, renewable energy, electronics, information technology, and management and business process outsourcing.
In view of the major differences between the beverage products and waste industries, Mr. Sianghio stated, "We believe that although the vodka industry has been doing good, focusing on the direction of the waste management will be beneficial to the shareholders as we see significant growth and opportunities both financially and economically."
Solid Waste Industry is a $55 billion dollar market generated from volume of wastes collected and recycled commodities including paper, plastic and steel according to Waste Business Journal's Waste Market Overview & Outlook 2012. Environmental Research and Education Foundation published by R.W. Beck also details the industry's contribution of over $96 billion that created 948,000 jobs which is over one percent of U.S. GDP to the nation's economy involving all direct, indirect and induced effects from solid waste industry activities. That being said, VuQo Holdings Corporation has already lined up organizations in the hauling operations and solid waste facilities both private and in public sectors to potentially diversify its portfolio.
"This acquisition shows flexibility and will give our business greater focus on pursuing our respective growth strategies while potentially giving longer term value to our shareholders," added Mr. Esteban.
About VuQo Holdings Corporation
VuQo Holdings Corporation is a diversified holdings company that acquires emerging companies in key industries where rapid revenue growth and market share penetration are poised for significant gains. Our main focus is to acquire, invest and partner with companies that have competent management teams with provable experience in their industry and have developed products or services that have a unique edge in their marketplace. Our evaluation matrix and consultant screening process help us filter hundreds of opportunities to effectively pick companies that can grow and evolve into high performing growth entities.
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