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iMD Companies Inc (OTCMKTS:ICBU) Completes Acquisition Of A Major Companies In India



iMD Companies Inc (OTCMKTS:ICBU) succeeded in completing the acquisition of two major Indian companies last month. According to reports, iMD acquired SG Minerals Mining Company, a multi-million dollar company as its wholly owned subsidiary in the first half of April 2018 and later on went on to complete the acquisition process of LCG Plastech in the mid of last month.

iMD Aims To Acquire Multiple Mining Companies

SG Minerals is an Indian audited mining company involved in mining Iron ore with a turnover of several million revenue/year. iMB decided to acquire this company because it matched its business profile and together they complement each other with their respective mining projects. Incidentally, SG Minerals has the right infrastructure and manpower to carry out the current ongoing iMB projects in Arizona and Nevada. The Indian company can contribute by helping with the extraction of precious minerals.

Although the Florida-based company is yet to share any details about this new deal with SG Minerals, it is will soon share the updates with the shareholders after the terms of the deal are finalized completely. The acquisition deal with the Indian company is a part of iMD’s mission to keep on adding multiple mining companies so as to increase the value of its shares as it believes that currently the company is being undervalued.

The Director of SG Minerals, Mr. Arsad Hossain said that they are excited about this acquisition deal with the American company and are looking forward to expanding the mining operations together both in the United States as well as in the subcontinent. Hossain added that his company has the expertise and equipment to fulfill the goals of iMD and both the companies are working on including several key new contracts to be fulfilled in the coming 90 days.

iMD Acquires Orissa-Based LCG                                       

LCG Plastech, an audited PVC Pipe manufacturing company owning a manufacturing plant in the state of Orissa in India seems to complement iMD as both the companies work on the same line.  According to Managing Director, LCG, Mr. Ranjit Pattnaik, they are excited about this partnership and feel that it will give them more exposure and visibility for business expansion with other mining companies owned by iMD.

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