BELGIUM, WI, Feb. 11 /PRNewswire-FirstCall/ -- Mach One Corporation (Pink Sheets: MNCN), a global health company that develops biotechnology based solutions that produce positive, long term benefit to the agricultural and consumer markets, announced today that it has executed its definitive agreement to acquire Modular Process Constructors LLC.
The purchase price of $500,000 in the form of Convertible Preferred Stock with a conversion price of .50 per share will allow Mach One to bring in house the engineering and design experience needed to roll out its capacity expansion on a national basis -- plans that include up to 17 facilities nationally. Bringing needed in-house expertise along with the ability to engineer and design systems for world class customers, Mach One takes an important step in building their internal expertise for organic growth.
Monte B. Tobin, Chairman and Chief Executive Officer of Mach One, said, "We welcome the expertise to facilitate expansion of our business model internally combined with key engineering experts who are able to work externally with world class customers in the biopharmaceutical industry."
"This is yet another major building block Mach One is leveraging to advance our business plan through our new director, Tad M. Ballantyne. Tad joined the board with our recent acquisition of Pacific Rim Foods Ltd. and is also Managing Director of the parent company of Modular Process Constructors LLC. Through these key associations, Mr. Ballantyne has provided both capital and technology to Mach One in the execution of our business model. It's important to see that our acquisition strategy is accretive to our core business by the addition of not only revenues and assets, but of highly specialized knowledge and expertise," added Tobin.
About Mach One Corporation:
Mach One Corporation (www.machonecorp.com
|SOURCE Mach One Corporation|
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