Intermost Acquires APT Paper Products in China
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Intermost Corp.(IMOT), Shenzhen, China, reports that it is in the process of acquiring Shenzhen-based APT Paper Product Co., a manufacturer of "honeycomb" packaging materials for LED and plasma products for several large companies and fragile product clients such as Wal-Mart, Costco, Sam's Club, Sony, Nokia, DHL, Haier, and Hisense. With the acquisition, IMOT takes over an estimated total asset value of around $22 million, depending on the final audit and valuation result, with additional share issuance. Based on the forecast of $6 million profits after tax per annum, the ROI is around 27% per annum. IMOT notes that the acquisition "represents a breakthrough" for the company to become "an incubator for the modern green packing and honeycomb paper products packing industry in the next three years." IMOT expects to spin the project off for IPO within a three-year period.
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