SPOM - SPO Global signs merger agreement with Shandong Fangyuan Huizhong Intelligent Equipment

2023-03-14 09:08:35 ET

• SPO Global ( OTCPK:SPOM ) and Shandong Fangyuan Huizhong Intelligent Equipment has signed a definitive merger agreement , which brings together SFHI's expertise in food machinery R&D with SPO Global strategic planning and operations services.
• Under the terms, SFHI will become a wholly owned subsidiary of SPO Global and the combined company will be headquartered in Zhucheng, Shandong Providence in China.
• The sales for SFHI through Dec. 31, 2022 were ~$9.29M with net income of ~$1.49M.
• "Together, we will be able to offer a wider range of services to our clients in the food industry, from research and development of new food machinery to strategic planning and operations consulting." said Fang Qiang, the GM of SFHI.

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