ComCentral announces joint venture.TAMPA, Fla.--(BUSINESS WIRE)--July 27, 1995--ComCentral Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:COMC COMC Count of Monte Cristo COMC Canadian Open Mathematics Challenge COMC Care of Magical Creatures Class (Harry Potter) COMC Communications Controller ) announced today a strategic partnership between Tianrong Building Materials Building materials used in the construction industry to create . These categories of materials and products are used by and construction project managers to specify the materials and methods used for . Ltd., and Xin Hua United Control Technology Development Company. ComCentral is in the last stages of finalizing its merger with Tianrong Building Materials. The joint venture aims to provide, design, transport, and install steel structures for factory and office buildings to serve Shanghai's economy. The market need for steel structured buildings in China is expected to grow at 20% per year over the next five years. Sales are estimated to grow at an average rate per year of 80% over the next three years. The Tianrong/Xin Hua joint venture's net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight are expected to reach approximately $20 million (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) by year end 1998. Net income is estimated to realize approximately $2 million (USD) by year end 1998. Tianrong Building Materials is a steel structure engineering company with its main business focus in China. The Company's main asset is its 16% interest in Tianrong Building Elements, a Swiss-China joint venture established in 1986. Tianrong Building Materials has an option to purchase an additional 60% interest in Tianrong Building Elements for $3 million (USD). Tianrong Building Elements manufactures high-tech metal faced, insulated panels for roofs and walls. The Chinese Pavilion Chinese Pavilions (Chinese 亭, pinyin tíng) are covered structures without surrounding walls and are a traditional part of Chinese architecture. Pavilions are often found within temples, but are not exclusively religious structures. at the World Exhibition in Sevilla, Spain, was built with Tianrong Building Elements' panels. Tianrong Building Elements recorded sales of $8.2 million (USD) and a net profit of $1.5 million (USD). Xin Hua United is a state owned, Chinese conglomerate. The Company has many market channels and is capable of organizing specialized teams for the design and installation in accordance with the requests of the projects. CONTACT: ComCentral Corp., Tampa Matthew Veal, 813/282-9474 |
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