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$4 Billion Construction and Repair Bond for Los Angeles Public Schools Passed by Voters PDF Print E-mail
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Written by regional-news.com   
Friday, 18 November 2005
Global Diversified Industries, Inc.
Global Diversified Industries, Inc. (BULLETIN BOARD: GDVI) focused on the modular building industry with emphasis on the education market, announced today that voters passed bond measures valued at $4 billion dollars recently, thereby creating an unprecedented opportunity for the company and its subsidiary, Global Modular, Inc. and the new Aurora product line.

"The impact from previously passed bond measures has already been felt throughout the industry. Our growth over the last 12 months has been positively impacted and we expect to see continued growth for several more years as a result of the enormous money being spent statewide to solve the classroom shortage," stated Phil Hamilton, Chairman and CEO of Global Diversified Industries. "We are better positioned than ever before to bid on and deliver completed projects in a cost-effective and timely manner, and we are winning projects as a result of the capabilities and quality of our recently acquired Aurora product line, which we are extremely proud of."

The Los Angeles school bond measure would provide money to complete an ambitious overhaul and expansion in the Los Angeles school system, which is one of the most overcrowded in the Nation.

Since 1997 voters have supported three similar bonds worth $9.5 billion. The Measure was endorsed by many politicians and civic groups, including Los Angeles Mayor Antonio Villaraigosa.

The project, which is scheduled for completion in 2012, calls for about 160 new schools and extensive renovations to hundreds of others.

Global Diversified Industries, Inc. is a holding company with two wholly owned subsidiaries, Global Modular, Inc. and MBS Construction, Inc. Both are engaged in the modular construction marketplace with an emphasis on educational projects. They incorporate the latest in construction software, allowing them to better manage projects incorporating cost vs. profit ratios, construction and manufacturing schedules, purchasing, receiving and other facets of industrial management. The Company's work is found in Northern and Southern California, with numerous projects currently being considered at school systems throughout the state.

This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.

 
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