Business
Movement Industries Corp. (OTC: VSHC) Announces Letters of Intent to Acquire Two Mexican Companies
Movement Industries Corp. (OTC: VSHC) Announces Letters of Intent to Acquire Two Mexican Companies.
About this update from Movement Inds Corp.
[{"type":"text","content":"\n Engages Third-Party Business Appraiser to Verify Assets and Valuations Houston, TX, Aug. 20, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Movement Industries Corp. (OTC PINK: VSHC) announced today that the company has engaged an outside business appraiser to verify the assets of two Mexican companies that have signed Letters of Intent to join the Movement Industries team. The companies being appraised are: Servicios Integrales Tamabra S.A de C.V. (Tamabra) and Integración de Sistemas de Actuación, SA de CV (Intesista). Mr. Linh Nguyen, Movement Industries CEO, stated, “Both of these companies bring strong leadership teams with great vision that will enhance our ability to deploy new technologies that empower industries to move the world. Their seamless operations and commitment to superior quality and customer service are evident by their ISO 9001 certifications. Intesista’s actuators are a perfect complement to our existing valve product lines and Tamabra will give us a nice foothold in the wellhead services space where we have huge plans for future growth.” The two companies had over $8 million USD combined revenues in 2018 and are projecting 25-50% combined growth rates for 2019. Since all their revenues are currently generated in Mexico, we see huge upside potential as we expand their markets internationally and introduce their products and services to a global audience. Assuming both transactions are consummated, Movement Industries will be two steps closer to fulfilling its plan to acquire companies with $100MM in current revenues that each have the potential to at least double in size over the next five years.  Servicios Integrales Tamabra S.A de C.V. (Tamabra), based in Poza Rica, Mexico with offices in Houston, Texas, offers artificial lift, wellhead monitoring and intervention, and 24/7 on-site security presence. Tamabra also offers site design and construction services and transport to and from the production site. Most of Tamabra’s service agreements are long-term contracts that generate revenues based on the amount of production at each site. Tamabra’s integral management and quality systems are certified ISO 9001:2015, ISO 14001:2015 and OSHAS 18001:2007. Integración de Sistemas de Actuación, SA de CV (Intesista), headquartered in Mexico City with four remot...