[September 02, 2014] |
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VRC Selected to Value the Panama Canal
MILWAUKEE --(Business Wire)--
Valuation Research Corporation (VRC), a leading provider of independent
valuations, has been engaged by the Panama Canal Authority to value the
locks, dams, power plants and other structures of the canal for
insurance purposes. This is VRC's second valuation engagement with the
authority. In 2004, VRC was engaged to provide a comprehensive valuation
in connection with financing the Canal's expansion.
"We are very pleased to once again work with the Panama Canal
Authority," said Richard Nordberg, Managing Director. "Our past
valuation of the underlying assets and canal business enterprise has put
us in a good position to provide a current value for the physical assets
of the canal."
In its 100th year, the Panama Canal is still considered one
of the argest and most difficult engineering projects ever undertaken.
The Canal extends approximately 50 miles, through the Isthmus of Panama,
from the twin ports of Cristobal-Colón on the Atlantic Ocean side to the
port of Balboa (near Panama City) on the Pacific Ocean side. It is a
globally significant landmark that benefits from the exponential
increase in global trade.
In its last engagement for the Panama Canal Authority, VRC provided
valuations of the operating assets, including the power generation and
transmission lines, the water utility system, the lock system and the
railroad assets, to help the Authority obtain financing for its
expansion.
"This engagement is an important undertaking for our firm and we
appreciate the opportunity to assist the Canal Authority in the
valuation of an asset that is a tremendous engineering achievement and
provides a significant economic contribution to the region," said
Nordberg.
About VRC
VRC furnishes expert and independent opinions of value for solvency,
fairness, business enterprises, intangible assets, capital stock, equity
interests, real estate, and fixed assets. VRC has provided valuations
worldwide since 1975. VRC has locations in Boston, Chicago, Cincinnati,
Milwaukee, New York, Princeton, San Francisco, and Tampa; as well as
international affiliates in Argentina, Australia, Brazil, Canada, China,
Germany, Luxembourg, Mexico, Spain, and the United Kingdom.
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