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Friday, November 11, 2005 9:31:58 PM
Dalian Fushi signed agreement with S3 Investment Subsidiary
2005-4-8 8:00:24
TEMECULA, Calif.--April 7, 2005--S3 Investment Company (OTCBB:SEIH) today announced that its portfolio investment company, Redwood Capital, Inc., has entered into an initial agreement with its first investment banking client, DALIAN FUSHI Bimetallic Products, Ltd., China's market leader in the manufacture of copper wire and cable.
DALIAN FUSHI is a private company located in Liaoning province that generated almost $16 million (USD) in 2004 revenues and, with increased capacity, projects over $50 million for 2005.
The initial agreement calls for Redwood to manage a reverse merger of DALIAN FUSHI into a public U.S. company and obtain funding in U.S. capital markets through an initial Private Investment in Public Equity (PIPE) followed by a listing on a U.S. national market and a subsequent secondary registered offering.
DALIAN FUSHI is the market leader in China, with over 50% of the domestic supply of wire and cable widely used in network signal transmission, cable TV and distribution lines. This includes Local Area Networks (LANs) and access networks, telephone cable lines, patch cord for electric components, power supply systems, sliders and electrified railroads.
The company's products are based on its proprietary "Copper-clad Steel and Copper-clad Aluminum" composite conductor technology. In addition to the Chinese domestic market, DALIAN FUSHI is targeting international expansion. The company's international customers already include: Andrew Telecommunications (China) Co., Alcatel International Finnish NK Cables, Commscope, Hongxin, Largetech, Youzhan Enterprise and The Yongming Group.
"DALIAN FUSHI is an excellent client for Redwood Capital with a strong organization and solid financials that has a need to increase its present production capacity to meet a market demand greater than its current capacity. With greater capital resources, DALIAN FUSHI can add focus to the international markets and more aggressively leverage the price advantages over the current market leaders to gain market share globally. The company's 3-4 year goal is to be the worldwide market leader in supply of copper covered wire products," commented Chris Bickel, Chief Executive Officer of S3 Investment Company.
"DALIAN FUSHI meets the gold standard qualifications that Redwood has identified for its ideal client and is expected to be an attractive funding candidate for the U.S. investment community. When working on behalf of our clients, Redwood generates revenue from multiple sources, including transaction fees and a calculated fee structure for capital raises," added Mr. Bickel.
About The Company
S3 Investment Company Inc. (http://www.s3investments.com) is a Business Development Company regulated by the Investment Company Act of 1940. Its first operating subsidiary, Securesoft Systems Inc. (http://www.securesoftsystems.com), was acquired in April 2003.
S3 Investments has subsequently acquired 100% of Redwood Capital to participate in the fast-growing investment banking market in China and 51% of SINO UJE, a non-stocking distributor of medical and industrial high-tech products to markets throughout China. S3 is currently seeking to acquire additional synergistic companies and is focused on assembling a portfolio of investments that will provide value to its shareholders.
Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements. S3 Investment Company, Inc. undertakes no obligation to update any such statements to reflect actual events.
(Editor:Farah Song) (From:BUSINESS WIRE)
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