FBC Holding to Investigate Two Potential Acquisitions
NEW YORK – FBC Holding said it is proceeding with its due diligence investigations of two companies with which Letters of Intent have been previously announced.
The first company is FortuneTech, which last year generated $1.3 million in revenue and had an adjusted EBITDA close to $200,000. The company's best year occurred in 2005, when total revenues exceeded $3.2 million. The company is a reseller of used and refurbished machinery.
FBC Holding is also proceeding with its evaluation of a project introduced by Dutch Gold Resources. The companies will investigate opportunities that DGRI has identified and developed preliminary business plans for.
These opportunities are related to gold mining services in Nicaragua. FBC is gathering industry experts and will schedule a trip to the sites in the near future, it says.
