NW Tech Capital Increases Stake in China With Plans to Acquire Multi-Million Dollar Exclusive Distribution for Proprietary Enter
August 25 2008 - 8:45AM
Marketwired
NW Tech Capital, Inc. (OTCBB: NWTT) announced today that it is
increasing its stake in the Zhuhai Jialun Guangcai Chain Drug Store
Co., Ltd. ("ZJG Drugstores") by targeting the additional
acquisition of proprietary enterprise software currently in use by
over 2,000 drug stores in China. As previously announced by NWTT on
August 19, 2008 the acquisition was for majority interest in the
400 ZJG Drugstores based in Guangdong Province. The 400 ZJG
Drugstores had revenues over 51 million RMB ($7.4 million USD) in
2007.
Jialun Guangcai Software Co., LTD., specializes in developing
the information technology in the medicine industry. After seven
years of research and development, the company has developed
"Guangcai" Software to establish the logistic and management
platform for the drugstores, wholesalers, manufacturers and
administration. The company is the leader in China and the software
is widely used by over 2000 chain drugstores in Guangdong
Province.
The enterprise software was developed by the founders of ZJG
Drugstores to provide a platform for vendor relationships; accounts
payable; invoice management and sales; inventory; procurement
logistics; and strategic business growth. Today, this enterprise
software gives the ZJG Drugstores a valuable competitive
differentiation and an e-commerce platform for future growth in
China and around the world where the market for Chinese herbal
medicines is becoming widely accepted following clinical studies by
respected medical scientists including teams from the prestigious
U.S. National Institutes of Health and the World Health
Organization.
James Wheeler, CEO of NWTT, stated, "The majority acquisition of
the ZJG Drugstores on its own is a major milestone for us based on
its historic revenue stream and rapid growth potential, both
organic and through consolidation with other drugstore chains in
China. Now with the planned acquisition of the proprietary
enterprise (Guangcai) software we can look for expansion beyond
China and throughout the United States. The software is key to this
expansion since it allows us to manage in real time the supply
chain to a growing number of drugstores."
Mr. Wheeler continued, "The core expertise of NWTT is the
integration of technologies and business models. Our proven
expertise gave us an advantage when we looked at the e-commerce
Guangcai software and realized its potential to be marketed
throughout the United States. We recognized the value of growing a
'brick and mortar' China business model through expansion using
e-commerce. Now with the acquisition of the proprietary enterprise
(Guangcai) software we can overlay our networking skills to reach
out to new customers throughout the world."
About Zhuhai Jialun Guangcai Chain Drugstore Co., Ltd.
Zhuhai Jialun Guangcai Chain Drugstore is a retail and wholesale
for Chinese Traditional Medicine materials, Traditional Chinese
Medicine Patent Prescription, Chinese Traditional Medicine Slices,
biochemical pharmaceutics, biological products (except for the
bio-products for preventive use), chemical, antibiotics; the retail
for foodstuff and health products; the retail and wholesale for
chemical products (except for dangerous chemicals and easy made
drugging chemicals), cosmetic and general goods; the retail and
wholesale for Class II medical instruments (except for the items
with licenses). Additional information regarding the ZJD Drugstores
is available at http://www.gzhuang.cn/zhuhai/e_index.asp.
About NW TECH CAPITAL, INC.
NW Tech trades on the OTC Bulletin Board under the ticker symbol
"NWTT." For more information on NW Tech Capital contact
investor@nwtechcapital.com or visit web sites at
www.nwtechcapital.com
Certain Information
Investors are cautioned that certain statements contained in
this document as well as some statements in periodic press releases
and some oral statements of NWTT officials are "Forward-Looking
Statements": within the meaning of the Private Securities
Litigation Reform Act of 1995 (the "Act"). Certain statements in
this news release may contain forward-looking information and are
based on Management's current expectations, estimates and
projections subject to change. Words such as "anticipates,"
"expects," "intends," "plans," "targets," "projects," "believes,"
"seeks," "estimates" and similar expressions are intended to
identify such forward-looking statements. These statements are not
guarantees of future performance and are subject to certain risks,
uncertainties and other factors, some of which are beyond our
control and are difficult to predict. Therefore, actual outcomes
and results may differ materially from what is expressed or
forecasted in such forward-looking statements. You should not place
undue reliance on these forward-looking statements. Unless legally
required, the Company undertakes no obligation to update publicly
any forward-looking statements, whether as a result of new
information, future events or otherwise. The Company disclaims any
information that is created or distributed by any outside party and
endorses only information that is communicated by its official
Press Releases.
Contact Information: NW Tech Capital, Inc. James Wheeler
Chairman & CEO E-mail: Email Contact
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