Nicholas Investment Company, Inc. recently announced that the Company has entered into a preliminary agreement to acquire 85% of SINO UJE, Ltd., a non-stocking distributor that sells and services western designed and manufactured high-tech products to markets in China.
In addition to issuing restricted common stock for its 85% interest in SINO UJE, Nicholas Investment Company also expects to provide working capital and an operating line of credit for SINO to execute its expansion strategy.
Through both direct selling activity and relationships with a nationwide network of local and regional agents, SINO UJE sells its products and services throughout China. Operational offices in Shanghai and Guangzhou are bases for direct sales coordination and the management of the distribution network, which sells and services the products that are supplied by the Original Equipment Manufacturers (OEM's) in the USA, Japan and Europe.
Under terms of the agreement, the companies expect to reach a definitive agreement on the acquisition and close the transaction within the next 60 days.