SOUTHCORP CAPITAL, I (OTCMKTS:STHC) said that it entered into a deal to develop two weight loss products for a firm that will produce air infomercials. It intends to start with the production process within next 75-90 days. As per a market research report, the industry of global weight loss is anticipated to cross $206.4 billion by 2019. The industry was worth $148.1 billion in 2014.
Also, the North American market will constitute for almost 43% of the total revenues. Southcorp is constructing a factory in Indiana to support production of weight loss products. As of now, it will outsource the production to external laboratories and factories.
The details
On February 19, Southcorp proposed an offer to buy almost 20,000 square foot facility based in Indiana. The company wanted to construct a new factory that was completely dedicated for manufacturing of weight loss products. As per the estimates, the factory would produce up to 50 million cans in a year for only Nate’s Foods Co (OTCMKTS:NHMD).
The order would result in revenue generation of approximately $25 million per year. The production facility also has additional 5 acres that can be used to expand the capacity to 250 Million cans per year. The latest acquisition is in addition to the other property filed on February 17, 2015. The company is in the initial stage of the erection of a factory.
The profile
Southcorp Capital, Inc. is a reputed corporation that focuses on buying industrial, residential and commercial properties. It is a OTC traded company that has been supported by several pumps in past. Last October, there were as many as five mails circulated at a same time to tout the company’s stock. In last trading session, the stock price of Southcorp surged more than 3% to close at $0.0264.
