Sep 24 2010
Biomagnetics Diagnostics Corp. (PINK SHEETS:BMGP), a developer of revolutionary diagnostic systems and technology for HIV, hepatitis, tuberculosis and malaria detection, and other innovative technologies, recently announced its formal signing of a merger agreement between Biomagnetics Diagnostics Crop. and Hubei Tianyuan Chemical Co., Ltd.
Biomagnetics has signed a formal merger agreement with Hubei Tianyuan Chemical Co., Ltd., with a closing date set for September 30th, 2010. This merger brings 42 million dollars in assets, including land to expand, when necessary, to meet future production levels to fill anticipated market demands.
Clayton Hardman, President of Biomagnetics, states: “This merger is the king pin to our marketing and manufacturing of Bio-Fuels. With their existing foundations and similar vision we have dramatically reduced our lead time to market and revenue streams.”
Clayton continues, “Doing business overseas has always been a stressful experience, but the experienced management staff Chairman Yu has assembled will provide strength and stability in moving forward.”
Our team is currently traveling to Fuzhou, China to meet with potential customers for the Hubei Chemical’s existing product line and our newly added Bio-Fuels.