Intermost Corporation (OTC Bulletin Board: IMOT, which filed an application to change its name to Uni Core Holdings Corporation, and referred to as "UCHC"), an experienced 'company doctor' and aggressive 'incubator' of mid- to large-size companies in China, is pleased to announce that IMOT is in the process of acquiring one of the leading Environmental Paper Products companies in China, APT Paper Product Company (referred to as "APT").
APT is based in Shenzhen, with over 19 years history in the industry in China. Being an OEM, APT manufactures "Honey Comb packaging materials" for LED and Plasma products for a lot of big companies and expensive and fragile product clients, such as Wal-Mart, Costco, Sam's Club, Sony, Nokia, DHL, Haier, Hisense and other well-known companies.
Background of the Acquisition
In March 2009, one of the investors, FFBC Group from Taiwan, approached IMOT to discuss this acquisition which was concluded in September 2009.
IMOT considered this project to have good potential since all the products are environmentally designed and will never become obsolete. Besides, the products are made according to clients' designs and requirements, so they will always meet client needs.
Honeycomb paper products packing industry has a huge market with big potential and wide prospects, and considering APT's industry knowhow, experience and the advanced machinery from Holland, we are confident that the company can be groomed as the market leader in "Honey Comb" products. This is the common goal of both APT and IMOT in this acquisition.
Return on Investment (ROI)
IMOT shall take over an estimated total asset value of around US$22 million, depending on the final audit and valuation result, with additional share issuance.
Based on the forecast of US$6 million profits after tax per annum, the ROI is around 27% per annum. For details, please refer to the Financial Forecast posted on the IMOT website.
This acquisition represents a breakthrough of IMOT's business to become an incubator for the modern green packing and honeycomb paper products packing industry in the next three years. Again, we expect to spin this project off for IPO within a 3-year period.
About Intermost Corporation (with plans to change its name to Uni Core Holdings Corporation)
Founded in the USA in September 1998, Intermost Corporation was the first Chinese Internet company listed on the US OTC Bulletin Board (stock symbol: IMOT) in December 1998. Intermost Corporation (with plans to change its name to Uni Core Holdings Corporation) has evolved into a 'company doctor' and 'incubator' of mid- to large-size companies that have good potential and profitable products in the market which are desperate for help from experts who can help them grow by assisting them in obtaining public or private financing in China, including company diagnosis services; consulting services; mergers and acquisitions; incubating; raise fund or financing; assistance to get public listing for mid- to large-size companies, etc.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks, uncertainties and assumptions that, if they never materialize or if they prove incorrect, could cause the Company's results to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenue, or other financial items, any statements of the plans, strategies, and objectives of management for future operations, any statements concerning proposed new products, services or developments, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations as of the date of this press release. Actual results may differ materially from those projected because of a number of risks and uncertainties, including those detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. The Company assumes no obligations and does not intend to update these forward-looking statements.
SOURCE Intermost Corporation