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Featured Company News - Hebron Technology Announced Joint Venture with BioPromin; Set to Enhance Medical Devices Portfolio

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LONDON, UK / ACCESSWIRE / June 28, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Hebron Technology Co., Ltd (NASDAQ: HEBT), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=HEBT. The Company, which is a developer, manufacturer, and installer of valves and pipe fittings, announced on June 26, 2017, that it has signed a framework cooperation agreement to form a joint venture with Research and Product Complex BioPromin Ltd, a Ukraine-based Company specializing in noninvasive blood analyzing medical devices. For immediate access to our complimentary reports, including today's coverage, register for free now at: http://protraderdaily.com/register/.

Discover more of our free reports coverage from other companies within the Diversified Machinery industry. Pro-TD has currently selected Actuant Corporation (NYSE: ATU) for due-diligence and potential coverage as the Company announced on June 21, 2017, its financial results for Q3 which ended on May 31, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Actuant when we publish it.

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The Announcement

Subject to the terms of the agreement executed on June 16, 2017, both Hebron and BioPromin have agreed to develop, manufacture, and market BioPromin's proprietary noninvasive blood analyzing devices in China. The joint venture will be based in Konggang New Area, Longgang District, Wenzhou City, Zhejiang Province, with a registered capital of $5 million and a total investment of up to $50 million. According to the announcement, Hebron will own 80% of the Joint Venture, where BioPromin will hold the remaining 20% of the venture and the right of first refusal to acquire an additional 5% ownership in the venture from Hebron.

Hebron views this agreement as a step to penetrate into the China's huge medical devices industry. Through the joint venture, the Company plans to integrate deep ties to the pharmaceutical industry and strong capabilities in manufacturing and marketing with BioPromin's innovative blood analyzing techniques. Hebron plans to bring BioPromin's clinically-proven blood analyzer products to the Chinese market, through this step.

BioPromin's portfolio includes products like Automatic Noninvasive Express Screening Analyzer ("ANESA"), Noninvasive Hemogram Analyzer AMP, Low-Intensity Microwave and Decimeter Wave Therapy Apparatus "BIOL", and Star device.

Hebron Technology

Hebron Technology deals in the development, manufacture, and delivery of customized installation of valves, and pipe fittings. It additionally offers pipeline design, installation, construction, and ongoing maintenance services. For the six month period, ended December 31, 2016, the Company reported that its net revenues surged 17.9% to $16.4 million, with revenues from installation services and fluid equipment sales increasing 19.7% and 5.9% respectively.

Prior to the announcement, on March 10, 2017, the Company announced that it has entered into a non-binding Letter of Intent (LOI) pursuant to which Hebron acquired a majority equity interest in Shanghai Xinxiao Co., Ltd. Xinxiao currently operates one of the largest marketplaces for equipment and products used in the pharmaceutical, biological, chemical, food and beverage, and environmental industries. Hebron viewed this agreement as a definitive plan to expand its ecommerce business while leveraging the extensive database and strong relationships with leading Companies in the particular industry.

On May 24, 2017, Hebron Technology announced that it has won a bid on the design and implementation of an oil-free compressed air pipe project at a pharmaceutical production facility, currently owned by Tianjin Chase Sun Pharmaceutical Co., Ltd. Chase Sun currently operates through its 6,000 employees and reported net annual sales of RMB 3.9 billion. This project was viewed as the development of Company's pharmaceutical product portfolio, as per the demand pertaining from the leading Pharmaceutical Companies in China. Hebron plans to leverage Chase Sun's expansion strategy to enhance the scale of its business and establish itself as the leading product manufacturer and deliver in the country.

Last Close Stock Review

At the close of trading session on Tuesday, June 27, 2017, Hebron Technology's stock price rose 3.91% to end the day at $2.92. A total volume of 33.42 thousand shares were exchanged during the session. The Company's shares are trading at a PE ratio of 5.92. At Tuesday's closing price, the stock's net capitalization stands at $44.03 million.

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SOURCE: Pro-Trader Daily