UPIN Acquires The Import Export Group, Inc.

Rhea-AI Summary

Universal Power Industry Corporation (OTC:UPIN) announced the acquisition of The Import Export Group, Inc. for approximately $2.1 million, combining cash and stock. This strategic move is designed to enhance operational control and reduce outsourced logistical costs, potentially adding $1.6 to $1.8 million in revenue. Operating as a wholly owned subsidiary, the acquisition aligns with Universal's goal of becoming self-reliant while increasing margins. The company's president expressed enthusiasm for the acquisition, highlighting its role in their broader growth strategy.

Positive

• Acquisition of The Import Export Group, Inc. for $2.1 million enhances in-house control.
• Expected additional revenue of $1.6 to $1.8 million enhances financial outlook.
• Reduction in outsourced logistics costs improves overall margins.

Negative

• None.

GREAT NECK, NY / ACCESSWIRE / April 7, 2022 / Universal Power Industry Corporation (OTC:UPIN) ("Universal Power" or the "Company"), a diversified holding company with an emphasis on the manufacturing and the importation of denim clothing and other apparel items for the private label and retail sectors as well as the company's own Indigo Brands label, today announced that it has acquired The Import Export Group, Inc. a Global Supply Chain Logistics Company based in Los Angeles, CA. The acquisition was made with a combination of cash and stock for approximately $2.1 million dollars.

The acquisition is part of Universal's overall strategic growth plan of controlling all aspects of its business in house and becoming 100% self-reliant while increasing margins. The Import Export Group, Inc. will add approximately $1.6 to 1.8 million dollars of revenue to the company at this time while reducing logistical costs currently being outsourced by the company. The company will operate as a stand-alone wholly owned subsidiary with an eye towards continued growth.

"We are very excited about this acquisition and the opportunity it provides Universal to have control of our own logistics internally. We are continuously looking for opportunities to strategically increase our global assets while increasing revenues and margins. The more in house control of our operations we have, results in increased control and margins." stated Mr. Chiu President of UPIN. "Our aggressive but cautious strategy will complement other upcoming acquisitions and new contracts that are in the pipeline."

ABOUT UNIVERSAL POWER INDUSTRIAL 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 www.upinholdings.com.

ABOUT THE IMPORT EXPORT GROUP, INC.

Started in 2013 The Import Export Group, Inc. is one of the fastest growing firms in the field of Import & Export logistics in the U.S. With years of experience of servicing retailers and wholesalers within the United States, Canada and throughout the world, The Import Export Group Inc. stands ready to supply businesses and enhance the profitability with our direct sourcing strategies. Through our flexible and efficient structure, we offer our clients a wide range of services.

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 and performance may be 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 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

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https://www.accesswire.com/696575/UPIN-Acquires-The-Import-Export-Group-Inc

FAQ

What is the purpose of Universal Power's acquisition of The Import Export Group?

The acquisition aims to enhance operational control and reduce logistics costs while increasing revenue.

How much did Universal Power pay for The Import Export Group?

Universal Power acquired The Import Export Group for approximately $2.1 million.

What revenue impact is expected from the acquisition?

The acquisition is expected to add approximately $1.6 to $1.8 million in revenue.

What is the strategic importance of this acquisition for Universal Power?

The acquisition supports Universal Power's strategy to become fully self-reliant and improve profit margins.