Play Market Completes Acquisition of Denim Manufacturing Factory

Rhea-AI Summary

Universal Power Industry Corporation (UPIN) has finalized its acquisition of Guangzhou Fang Ya Denim Co., Ltd., a denim manufacturing facility in Guangdong Province, China. This acquisition is expected to enhance production capabilities and increase revenues by 16-18%. Guangdong’s economic zone status offers tax incentives and access to skilled labor, aiding in operational control over manufacturing and logistics. The president, Tony Chiu, indicated plans to seek additional facilities in China or Vietnam for diverse product lines.

Positive

• Acquisition expected to increase revenue by 16-18%.
• Complete control over denim manufacturing and cost management.
• Access to skilled labor and favorable economic conditions in Guangdong.

Negative

• None.

Play Market Completes Acquisition of Denim Manufacturing Factory

GREAT NECK, NY / ACCESSWIRE / July 20, 2021 / Play Market a subsidiary of Universal Power Industry Corporation (OTC PINK:UPIN) today reports that it has completed the previously announced acquisition of Guangzhou Fang Ya Denim Co., Ltd. a denim manufacturing factory.

The factory is located within the Guangdong Province a coastal province in South China on the north shore of the South China Sea. Guangdong is a Special Economic Zone designated by the country to attract foreign investment with special tax incentives for companies that export their products.

Along with financial incentives offered by the government, Guangdong offers a large pool of experienced labor and the largest economy of any other province with easy access to shipping. Play Market estimates with its own denim manufacturing facility and controls, along with other potential new avenues of revenue coming online, the company estimates the acquisition will increase volume and the bottom line of between sixteen and eighteen percent.

'The company is pleased that we have finally been able to close this acquisition. The acquisition fits in with our growth plans going forward. With this acquisition our company will now have complete control of its denim manufacturing, scheduling, shipping, and cost controls.' Said Tony Chiu, President.

Mr. Chiu also stated, "The company is seeking another manufacturing facility in China and or Vietnam for the production of other non-denim product lines."

About Universal Power Industry Corporation:

Universal Power Industry Corporation (UPIN) is a diversified holding company that owns, invests and or manages select businesses. Our business objectives cover a wide range of sectors from consumer/industrial products, technology research and development/startups. Please follow us on social media for additional updates at Facebook, Twitter, OTCMarkets or visit our company website UPINholdings.

Statements contained in this release, other than those identifying historical facts, constitute 'forward looking statements' within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies, and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.

Contact Information:

Universal Power Industry Corporation
admin@upinholdings.com

SOURCE: Universal Power Industry Corporation

View source version on accesswire.com:
https://www.accesswire.com/656258/Play-Market-Completes-Acquisition-of-Denim-Manufacturing-Factory

FAQ

What is the significance of Play Market's acquisition of Guangzhou Fang Ya Denim Co., Ltd.?

The acquisition enhances Play Market's control over denim production, potentially increasing revenues by 16-18%.

When was the acquisition of the denim manufacturing factory completed?

The acquisition was completed on July 20, 2021.

What are the expected benefits of the acquisition for UPIN shareholders?

Shareholders can expect a boost in revenue and operational efficiencies from the increased control over manufacturing.

Is UPIN planning further expansions after the denim factory acquisition?

Yes, UPIN is looking for additional manufacturing facilities in China or Vietnam for other product lines.