PLACERVILLE, CA, March 8, 2018 /PRNewswire/ - IMD Companies, Inc. (OTC Pink: ICBU) Board of Directors announced today that the company has signed an MOU to acquire LCG Plastech Company as a wholly owned subsidiary of the company. LCG Plastech is an audited PVC Pipe manufacturing company and owns a manufacturing plant in Orissa, India. LCG is a great compliment to IMD's other companies and has revenues in the millions. The company has been an acquisition target of the company for several months due to the demand for PVC pipes and contractual partnerships which LCG has.
Mr. Ranjit Pattnaik, Managing Director of LCG stated, "We are excited to form this partnership with IMD Companies Inc. We feel that being part of a public company like IMD will give us more exposure and will also give us more visibility for business expansion with the other mining companies that IMD owns. We look forward to working with the IMD team and feel that we can greatly benefit each other in our desire to grow both companies' revenues and profits." Once the due-diligence process is complete the board of directors of IMD Companies, Inc. will review the report and enter in to a definitive agreement. When the definitive agreement is completed the company will announce its completion immediately.
About iMD Companies, Inc. www.imdcompaniesinc.com
IMD Companies, Inc., (ICBU) is a Florida corporation, engaged in the manufacturing, extraction and distribution in mining, hydroponics industries, and asset accumulations of revenue producing companies. The company is positioned to be a holding company for acquisitions in the medical, mining and hydroponics industries. Acquisitions in those areas are R-Quest Hydroponics from Anything Technologies Media (EXMT). The company and the principals of the management team have extensive backgrounds in finance, manufacturing, marketing and distribution. ICBU's goal is to create and increase shareholder value by tactically growing our business while strategically seeking to acquire new business and create other business alliances, which generate increased revenues and earnings.
About KRSNA Minerals:
KRSNA MINERALS currently has contracts with the Chinese government to supply manganese and Iron ore to China. The recoverable asset values are in excess of 700 million dollars for the total claims owned by KRSNA MINERALS. The Current Claims mined produced revenues in excess of 30 million dollars in 2016 KRSNA MINERALS plans to dramatically increase the number of claims being mined in 2017 to increase revenues exponentially for the company. KRSNA MINERALS is now a wholly owned subsidiary of ICBU and all financials of KRSNA MINERALS will be represented into ICBU financials statements.
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