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New York, July 11th, 2007- Factories In Asia Inc., a privately held American business-to-business e-commerce company is planning to spin off its FactoriesInChina.com unit to prepare it for a public offering in the USA. The company plans an initial budget of $1,000,000 for the legal costs and set up of operations. The goal is to raise $30 million to help it expand in China, and the USA.
Factories In China Inc., will be a new American corporation offering services and products to help Chinese and American businesses find, buy, and sell to each other. Besides www.FactoriesInChina.com, the online directory of Chinese factories, other services will include: instant offices and showrooms, marketing services, website designing, logistics, escrow sales, and trade shows. There will also be a companion eBay style website to enable direct business-to-business sales.
The company plans to set up brick-and-mortar China Trade Centers in China and the USA to offer members and visitors sales and service support. To help the new unit get off to a flying start, the company has obtained a confidential database of 1 million of the top factories in China. This will be uploaded into the directory and also used for direct marketing purposes.
All major B2B e-commerce companies in China are based in China. Factories In Asia Inc. is based in New York City and owned by American citizens. Alibaba, the top Chinese company, sold a 40% stake in itself to Yahoo for $1 billion in 2005. In May 2007, media frenzy was raised when rumors of a planned Alibaba public offering surfaced. It was later found to be untrue but showed the extreme interest in China’s huge e-commerce market.
Factories In China Inc. will help both Chinese and American businesses break into each other’s markets. Chinese factories are now overcrowded and need to compete on more than price alone. American businesses that want to break into the huge Chinese market need help with marketing, logistics, and cultural education. Having a staff of Chinese and Americans will make a big difference for ensuring future success.
About Factories In Asia Inc.
Factories In Asia Inc. is a privately held American business-to-business e-commerce company. It has two stated missions. Help factories in Asia and worldwide buyers & suppliers find each other. Help businesses sell more products and make more money. The company has an impressive portfolio of domain names, websites, and business services. It is based in New York City and is focused on developing and improving new markets in Asia and Western countries.
For more information on Factories In Asia Inc., visit the Company’s website at www.FactoriesInAsia.com
For more information on Factories In China, visit www.FIC8.com.
Factories In Asia Inc. Contact:
Douglas H. Tam, VP Business Development dt(at)factoriesinasia.com Telephone (718) 899-1068 Fax (718) 690-2280
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