Land Star Inc. (LDSR) Foshan City New Projects And USA Merger Update
WUHAN, China, Feb. 9 /PRNewswire-FirstCall/ - Landstar Inc.'s (LDSR; http://www.landstarcorp.com) subsidiary Hubei Chuguan Industrial Co., Ltd. met with the representatives of the Municipal Government of the Foshan City, Guangdong Province, to discuss the use of Hubei Chuguan technology across Foshan City.
Hubei Chuguan Director and the marketing team met with the Mayor of Foshan City to discuss possible cooperation between the Hubei Chuguan and Foshan City. The company presented its plan to the Mayor of Foshan and carried out a detailed discussion on the economic and ecological benefits of this oil and gas recovery technology for the city. The parties also discussed detailed cooperation issues of a possible contract. The Hubei Chuguan Director submitted a proposal for installation of Hubei Chuguan oil and recovery technology and infrastructure upgrades for the city, and the parties agreed to continue this dialogue in the near future.
Mr. Lee, the Director of Hubei Chuguan said, "Our talks with the Foshan Mayor went well and there is a great will for cooperation. We offer people outstanding opportunity to save money and save the planet one drop of oil at the time. Things are happening for Landstar Inc. and we are marching forward, because the opportunities for our technology in China are endless."
Hubei Chuguan Industry Co. Ltd., a subsidiary of LandStar Inc., provides recycling solutions on settlement and reconstruction for oil and gas. With the technologies of Nippon Oil Corporation at its core, Hubei Chuguan Industry Co. Ltd. purchases parts and assembles these recycling units in China.
In other updates, as previously announced discussions for a four way merger with two separate China based companies is progressing rather well. Our representatives held a very productive and lengthy discussion with a USA Georgia State energy company. While the USA company is reviewing the proposal put forth by LDSR, LDSR management is also looking at various options available to either take the entire Georgia project under its wing or as a majority stakeholder. Mr. Lee, the Director of Hubei Chuguan and CEO of LDSR concluded "It appears that all four entities' minds and heart are in this mega merger. Now the focus is on the logistics and operational matters and what LDSR will look like after this is all complete. As a company we remain committed to keep our followers advised and we intend to do so via news or Pink Sheets filings as soon as any material or substantial update becomes available."
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Information in this news release may contain statements about future expectations, plans, prospects or performance of LandStar Inc. that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project" and similar words and phrases are intended to identify such forward-looking statements. LandStar Inc. cautions you that any forward-looking information provided by or on behalf of LandStar Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. LandStar Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond LandStar Inc.'s control. In addition to those discussed in LandStar Inc.'s press releases, public filings, and statements by LandStar Inc.'s management, including, but not limited to, LandStar Inc.'s estimate of the sufficiency of its existing capital resources, LandStar Inc.'s ability to raise additional capital to fund future operations, LandStar Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match LandStar Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. LandStar Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
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SOURCE Land Star Inc.
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