China Direct Trading Company Announces Focus of 2006 Strategic Plan
Posted on: Thursday, 26 January 2006, 09:00 CST
China Direct Trading Corp. (OTC BB: CHDT) announced today that integral to the company's 2006 strategic plan it will seek to initiate strategic investment, acquisition and merger opportunities with domestic distribution companies that can leverage China Direct's extensive sourcing network of China-based manufacturers.
"We have decided that expanding domestic distribution opportunities through strategic investment and acquisition provides significant potential for enhancing revenue, net worth and cash flow," stated Howard Ullman, Chairman and CEO of China Direct. "Our board has created and funded a credit line of $637,000 to implement this objective. The souvenir, promotional and gift segment will remain an important part of our core business while we expand distribution channels for the products we source from over 30 Chinese manufacturing companies."
China Direct has traditionally been a trading company with low overhead focused on exploiting its sourcing ability to meet China Direct's customer needs. Ownership of, or investment in, companies that are established distributors in the U.S. and potential distribution channels of Chinese-made products in the U.S. will now be considered as part of the company's long-term growth strategy.
China Direct Trading Corp. (www.chinadirecttradingco.com) is a holding company creating vertical subsidiaries that generate trade between the US and China. The Souvenir Direct Inc. (SDI) subsidiary is engaged in product development, manufacturing, distribution and product placement into mass retail of souvenir and gift items, selling products to importers in 29 countries, theme parks and direct to retailers worldwide. The Overseas Building Supply (OBS) subsidiary is engaged in manufacturing, distribution, and logistics of Chinese made building materials including generators, roof tiles, interior doors, and insulation materials.
FORWARD-LOOKING STATEMENTS
This press release includes "forward-looking statements" within the meaning of the federal securities laws. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Many factors are beyond the company's and its subsidiaries' control. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's existing and future filings with the Securities and Exchange Commission.
Contact: Howard Ullman China Direct 954-252-3440
SOURCE: China Direct Trading Corp.
Source: MARKET WIRE
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