GREAT NECK, NY / ACCESSWIRE / February 18, 2021 / Play Market a subsidiary of Universal Power Industry Corporation (OTC PINK:UPIN) announced today that it has begun negotiating the acquisition of a garment manufacturing factory.
The factory located in the Guangdong Province a coastal province in South China on the north shore of the South China Sea. Guangdong is the first Special Economic Zone designated by the country to attract foreign investment with special tax incentives for companies that export the manufactured products. Guangdong has benefited from its proximity to the financial hub of Hong Kong, which boarders to the south. Guangdong also hosts the largest import and export annual fair in China.
Along with financial incentives offered by the government, Guangdong offers a vast pool of experienced labor and the largest economy of any other province, with easy access to shipping. The company estimates with its own manufacturing facility and controls, along with new avenues of revenue coming online, the acquisition will result in increased volume along with an increase in the bottom line of between sixteen and twenty percent.
'We are extremely excited about this opportunity. As China is one of our supply countries already, this acquisition will fit right in with our growth plans. It will afford our company complete control of manufacturing, scheduling, shipping, and cost controls.' Said Tony Chiu, President.
About Universal Power Industry Corporation:
Universal Power Industry Corporation (UPIN) is a diversified holding company that owns, invests and or manages select businesses, and on special opportunities will provide financing solutions to companies at various developmental stages. 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.
Universal Power Industry Corporation
SOURCE: Universal Power Industry Corporation
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