May 7, 2009 (Filing Services Canada) -- Minaean International Corp. (MIB - TSX Venture, NJA - FWB, NJA - BSE), is pleased to announce that the Company, through its wholly owned subsidiary, Minaean Building Structures Inc. ("MBS"), has commenced its first construction project in downtown Vancouver.
MBS has maintained its core competence in the supply and manufacture of light gauge steel wall panels which, along with the Hambro steel joist floor decking system, form a steel superstructure of a building within weeks using the Company's Artisan Quik Build System. The 'Artisan Quik Build' is characterized by various high efficiency qualities extending from a 'green' building system to considerably low manufacturing costs for the developer. The prime niche for Artisan Quik Build is projects ranging from four to eight stories where the system achieves maximum cost effectiveness combined with a stout structure providing sustainability, high sound and fire ratings, comparatively very low building time and minimal waste on-site which is 100% recyclable.
The Company received an order valued at $521,500 from Kerosiotis Developments for the supply and installation of wall panels for its condominium project in August, 2008. The project, located on the crossroads of Waterloo Street and West Broadway in Vancouver, has been designed as a four-story residential and commercial development consisting of two 2,750 square-foot commercial units and 16 residential units ranging from approximately 620 square feet to 1,050 square feet.
The project has now commenced and the first set of light gauge steel wall panels were installed on April 23rd. The second set is scheduled to be supplied and installed in the 2nd week of May. This order represents Minaean's first construction project in Vancouver with the Company already in discussions with other developers who are keen on the triple benefits - time efficient, cost effective and environmentally friendly construction -- as offered by the Minaean construction system.
MBS has already completed various projects around the state of Oregon. The Company is also marketing its product in the state of Washington and is currently in talks with various developers and architects within and around Seattle. The Company anticipates securing further orders within the next few months in both states.
About Minaean
Minaean International Corp., manufactures rapid, efficient building systems using light-gauge steel. Minaean's Vesta Quik-BuildTM, Artisan Quik-BuildTM construction systems are available for houses and buildings of up to eight stories. The launching of "modular buildings and structures" designed, engineered and prefabricated in the factory environment, capable of being assembled and delivered within the shortest period has proved the Company's pioneering capabilities in innovative construction technologies. The strong, affordable, ecologically sustainable structures present a promising solution to the mass housing shortages in developing countries and disaster-stricken areas, in addition to a range of conventional applications.
Shares of Minaean International Corporation (parent company) are publicly traded on the TSX Venture Exchange under the symbol "MIB" and on the Berlin and Frankfurt Stock Exchanges under the symbol "NJA". For more information, please visit www.minaean.com.
On behalf of the Board of Directors
MINAEAN INTERNATIONAL CORP.
" Mervyn Pinto "
Mervyn Pinto
President & Director
"The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release."
MINAEAN INTERNATIONAL CORP.
Contact: Investor Relations
Phone (604) 684-2181
investors@minaean.com
Source: Minaean International Corp. (MIB - TSX-V)
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