SHENZHEN, China, May 13, 2015 (GLOBE NEWSWIRE) -- via PRWEB - Resort Savers, Inc. (RSSV), a strategic investment and development company, announced today that is has signed a Definitive Letter of Intent to acquire an 80% ownership stake in Kashi Jinju Color Printing Packaging Co. Ltd. (Kashi). Kashi, based in Northwest China, is a large, industrial scale cardboard processing and packaging company with an estimated $9 Million USD in net assets. By acquiring a majority stake in Kashi, RSSV is taking a major step in building its portfolio of high demand, revenue generating assets.
Kashi has been conducting cardboard processing and packaging operations in China for sixteen years. Kashi's lightweight, low-cost and high-strength cardboard materials are a cost effective choice for companies shipping food and beverage products across the Chinese market. Kashi is currently expanding its operations to cover over forty acres of production and packaging facilities, which will allow Kashi to produce an estimated 40 million square meters of cardboard annually.
China is the world's largest producer and consumer of cardboard boxes, with over 10 million tons produced monthly. This demand has created an industry valued at over $80 Billion USD. Kashi's production and facilities expansion will allow it to more effectively service China's growing cardboard demand.
Zhou Gui Bin, President of RSSV said, "We are very excited to announce this definitive Letter of Intent to acquire a majority stake in Kashi and consolidate their operations under RSSV. Kashi is a company on the rise, with an estimated $9 Million USD in net assets and expanding operations. Once Kashi completes its production expansion over the next twelve months, we forecast over $24 Million USD in annual sales."
Zhou continued, "By acquiring Kashi, RSSV will be strategically positioned to capitalize on China's booming packaging industry that is valued at over $80 Billion USD. Kashi is a cutting edge operation, with over 100 employees and multiple production lines of German made, state of the art industrial binding and printing machines. Kashi and RSSV are ready for a very profitable future together."
Zhou concluded, "Kashi represents a major acquisition opportunity for RSSV and shows the success of our strategic acquisition and development model. RSSV will acquire Kashi pending the completion and confirmation of Kashi's audit, which we expect to be complete within sixty days. By acquiring Kashi, RSSV is showing its commitment to building value for our dedicated shareholders."
Sources:
http://www.foodandbeveragepackaging.com
Rox Asia Consultancy Ltd.
About Resort Savers, Inc. (http://www.resortsaversinc.com)
Resort Savers, Inc. (RSSV) is a strategic acquisition and development company focused on identifying and acquiring high demand, revenue generating assets. RSSV is currently developing and investing in the oil and gas industry, real estate development and is set to enter the cardboard packaging industry by acquiring Kashi.
Kashi Jinju Color Printing Packaging Co. Ltd. (http://www.Kashipackaging.com)
Kashi Jinju Color Packaging Co. is a cardboard packaging and production company serving the Greater China market. Kashi utilizes state of the art production and assembly lines to produce durable, light-weight and low-cost cardboard boxes for shipping food and beverage products. Kashi is currently expanding its operations to over 40 acres of facilities.
Contact: Rex Cheung 852-2531-3511
Forward-Looking Statements
Except for the historical matters contained herein, this release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts, including, without limitation, statements that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development, may be deemed to be forward-looking statements. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. These statements are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. Except as may be required under applicable law, we assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. This release should be read in conjunction with Resort Savers' Annual Report on Form 10-K and its other filings with the U.S Securities and Exchange Commission through the date of this release, which identifies important factors that could affect the forward-looking statements in this release.
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