The GOM Ministry of Mining estimates that there are approximately $56.96 billion of industrial and infrastructure projects underway in Mongolia.
ULAANBAATAR, Mongolia (PRWEB) May 12, 2014
Consolidation Services Inc (now Mongolia Holdings, Inc. the "Company") (OTCQB: MNHD) and its wholly owned subsidiary, Mongolia Equipment Rental Corporation, announced that 23-year Hertz Equipment Rental Corporation veteran Brad Siniscalchi has been appointed to the Advisory Board of the Company.
Mr. Siniscalchi worked at Hertz Equipment Rental from 1990 to 2013 in a variety of roles, culminating as Division Manager of Franchise Operations from 2011-2013, where he became familiar with Consolidation Service’s large equipment rental opportunity to service the next phase of growth in the construction sector of Mongolia. His career at Hertz Equipment Rental began as a sales coordinator before progressing to Branch Manager and Regional Operations Manager, a role he successfully fulfilled for 10 years.
In addition to his intimate knowledge and expertise in the deployment of Hertz Equipment Rental operations and systems, he is a highly qualified sales and operational leader with expertise in all aspects of business administration, including business development, P&L responsibility, fleet management, cost controls and LEAN practices. Mr. Siniscalchi has hands-on experience in all aspects of equipment rental and in overseeing multiple business units in seven US states.
Company Chairman and Former US Ambassador, E. Michael Ussery stated: “The extensiveness of Bradley’s 23 years of experience at Hertz Equipment Rental is expected to be of immeasurable value to the Company’s management and Board, as we embark on the deployment of our franchise operations throughout the rapidly developing nation of Mongolia.”
Consolidation Services Inc., through its wholly owned subsidiary Mongolia Equipment Rental Corporation, is the Hertz Equipment Rental franchisee in Mongolia. The exclusive franchise for Mongolia allows the Company to operate a business of renting, selling and maintaining equipment for use in construction, mining, materials-handling, commercial and industrial activities under the unique plan and system of Hertz Equipment Rental Corporation and Hertz Equipment Rental System.
Mongolia is one of the fastest-growing economies in the world. With double-digit GDP growth, a predominant mining sector and an influx of outside investment, the country is beginning to experience a boom in commercial and residential construction. Additionally, the Government of Mongolia has committed to significant infrastructure development to enable more efficient extraction and delivery of its natural resources to international buyers - primarily neighboring China. Mongolia is an independent, Western-friendly democracy of approximately three million people, leveraging its natural resource base and creating a thriving modern economy.
Forward Looking Statement:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and under the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release are forward-looking statements. Without limiting the foregoing, the words "believe," "anticipate," "plan," "expect," "seek," "potential", "estimate" and similar expressions are intended to identify forward-looking statements. These statements relate to future events, including the Company’s expectations regarding Mongolia’s economy, development and potential growth and the Company’s and its subsidiaries’ business and operations in Mongolia, or to the Company's or its subsidiaries’ future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements.
Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors which could impact the Company and its subsidiaries and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.