Intermost Corporation (OTCBB: IMOT) confirmed today that it is in the process of acquiring one of the “leading Environmental Paper Products companies in China”, APT Paper Product Company (“APT”).
APT is based in Shenzhen, manufactures "Honey Comb packaging materials" for LED and Plasma products for a number of large companies, including Wal-Mart (NYSE: WMT), Costco (NASDAQ:COST), Sam's Club, Sony (NYSE:SNE) and Nokia (NYSE:NOK).
“In March 2009, one of the investors, FFBC Group from Taiwan, approached IMOT to discuss this acquisition which was concluded in September 2009,” IMOT stated. “IMOT considered this project to have good potential since all the products are environmentally designed and will never become obsolete.”
“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.” http://www.proactiveinvestors.com/companies/news/3491/intermost-corp-agrees-to-acquire-chinese-honeycomb-packaging-company-3491.html
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