Shenzhen, China, 03 February 2010 -- /PRNewswire-Asia/ -- Intermost Corporation (OTC Bulletin Board: IMOT, which filed an application to change its name to Uni Core Holdings Corporation, and referred to as UCHC), is in the process of acquiring APT Paper Product Company, one of the leading environmental paper products companies in China.
APT is based in Shenzhen, and has more than 19 years history in the industry in China. APT manufactures honey comb packaging materials for LED and plasma products for many large companies and product clients, such as Wal-Mart, Costco, Sam's Club, Sony, Nokia, DHL, Haier, Hisense, and others.
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 because all the products are environmentally designed, will not become obsolete, and are made according to clients' designs and requirements.
Honeycomb paper products packing industry has a large market, and considering APT's industry knowhow, experience, and the advanced machinery from Holland, IMOT anticipates that the company can be groomed as the market leader in honeycomb products. This is the common goal of both APT and IMOT in this acquisition.
IMOT shall take over an estimated total asset value of around USD 22 million, depending on the final audit and valuation result, with additional share issuance. Based on the forecast of USD 6 million profits after tax per annum, the ROI is around 27% per annum. For details, refer to the Financial Forecast posted on the IMOT Web site.
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.
Founded in the United States in September 1998, Intermost Corporation was the first Chinese Internet company listed on the U.S. 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 seek 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; fund-raising or financing; and assistance in obtaining public listing for mid- to large-size companies, etc.