WorldSource Inc. Acquires Tubert International
January 03 2007 - 8:30AM
PR Newswire (US)
Investment Bank KMA Capital, Inc. Structures $6M Agreement PALM
DESERT, Calif., Jan. 3 /PRNewswire-FirstCall/ -- WorldSource, Inc.
(Pink Sheets: WDSC) today announced that it has acquired Tubert
International, LLC, a contract manufacturer based in Los Angeles,
California. KMA Capital Partners, Inc. (Pink Sheets: KMCP) of
Orlando, Florida, structured the $6-million acquisition of Tubert
International as a wholly owned subsidiary for WorldSource. "We, at
WorldSource, along with the key strategists of KMA Capital have put
together an aggressive growth plan for WorldSource, and the
acquisition of Tubert International is the first and most important
step of our plan," stated Brian Jue, CEO of WorldSource. "With this
acquisition complete, we are now a revenue-generating, profitable
company with a significant upside. Beyond the fundamentals this
transaction adds to WorldSource, we are now tapped into a network
that yields countless opportunities for future growth." Tubert
International was formed in 1998 and is a USA-based company
dedicated to the overseas manufacturing of various industrial and
consumer goods to its clients' specifications. Headquartered in Los
Angeles, it has production offices in Hong Kong and
import/export/manufacturing facilities in Ningbo, Wuhan, Hangzhou
and Shanghai, China. The Company provides globally competitive
manufacturing to a diversified U.S. and foreign clientele base,
ranging from start-up companies to Fortune 500 and multi-national
companies. Tubert International's manufacturing specialties are
metals and plastics, and they are also able to produce components
and finished goods of rubber, textiles, leather, glass, ceramics,
composites, milled softwood, hardwood & bamboo products, and
complete, packaged, point-of-purchase-ready products. Maurice
Tubert, president of Tubert International, said, "In 1998 we set
out to build a world-class supply chain by maximizing our global
relationships. We hit a million dollars in sales by year 2 and have
grown every year since with 2006 revenue to eclipse $4.5 million.
We've been profitable every year. By inserting our
revenue-generating engine under the hood of WorldSource's machine,
we believe the necessary components are in place to build a
substantial company." CEO C. Phillip Tubert of Tubert
International, added, "WorldSource's acquisition of Tubert
International represents the inception of a powerhouse company. The
significance of this transaction is the fusion of substantial,
diverse and complimentary networks and capabilities, plus the
combined track record and highest ethical character of the
management team. We anticipate constant project and deal flow that
will propel the new WorldSource to the next level." "The
acquisition of Tubert International by WorldSource is a key
component of our plan for WorldSource," said Doug Calaway,
president of KMA Capital. "It is of considerable benefit to KMA
Capital since we can now offer world-class product design,
manufacturing, and distribution services to our clients." "We are
extremely excited about this transaction," added Bob Harrick,
president of WorldSource, "and we would like to thank KMA Capital
for its assistance in putting together this acquisition for us in
such a rapid manner. They were the key to us getting this deal
done." WorldSource is a developer and distributor of products for
the consumer marketplace. It has established an experienced
management team with considerable expertise in the development,
manufacturing, marketing and distribution of consumer products.
WorldSource is structured to quickly and efficiently bring unique,
beneficial products to consumers worldwide by utilizing a
well-connected marketing network and extensive distribution
channels. Management is actively seeking opportunities to develop
product lines and distribute products. For more information, please
visit http://www.worldsource.us/. Tubert International is a U.S.
company dedicated to overseas manufacturing and supply of
components and finished goods to its clients' design and
specification. It offers a robust and diverse manufacturing
resource and supply chain to its clients. It brings globally
competitive and sustainable pricing together with the quality,
dependability, accountability and dedication to detail and
communication that comes by dealing with an American supplier --
without the pitfalls typically associated with overseas production
and supply. The Company is headquartered in Los Angeles, with
production offices in Hong Kong, import/export/manufacturing
facilities in Ningbo, Wuhan, Hangzhou and Shanghai, China. For more
information, please visit http://www.tubertinternational.com/. KMA
Capital Partners, Inc. is a merchant banking firm that engages in
investment banking, financial consulting, negotiations of mergers
and acquisitions, portfolio management, turnaround services,
"business development" company services and commercial ventures
focusing on mid-cap private and public companies. Utilizing its
Capital Protection Program, KMA Capital has created a win-win
environment for companies and investors. KMA Capital, headquartered
in Orlando, Florida, has nine field offices throughout the United
States with expansion underway in the Northeast, West and Southwest
areas of the US. For more information, please visit
http://www.kmacapital.com/. Contact: WorldSource (877) 777-WDSC
WorldSource Investor Relations InvestSource (949) 200-7669 Tubert
International (310) 410-7200 KMA Capital Partners, Inc. Jack Craig,
Investor Relations 407-370-4300 Note: Certain statements in this
news release may contain "forward looking" information within the
meaning of rule 175 under the Securities Act of 1933 and Rule 3b-6
under the Securities Act of 1934 and are subject to the safe harbor
created by those rules. All statements, other than statements of
fact, included in this release, may include forward-looking
statements that involve risks and uncertainties. There can be no
assurance that such statements will be accurate and actual results
and future events could differ materially from those anticipated in
such statements. DATASOURCE: WorldSource, Inc. CONTACT:
WorldSource, +1-877-777-WDSC, , or WorldSource Investor Relations,
InvestSource, +1-949-200-7669, ; or Tubert International,
+1-310-410-7200, ; or Investor Relations, Jack Craig of KMA Capital
Partners, Inc., +1-407-370-4300, Web site:
http://www.worldsource.us/ http://www.tubertinternational.com/
http://www.kmacapital.com/
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