Astika Holdings Inc. announced today that, as part of the Company’s growth strategy through the acquisition of service, agriculture and industrial companies, it has authorized the execution of a letter of intent to begin negotiations with Nantong Dredging Machinery CO LTD, a limited liability company and joint venture of Great Britain and China.
Nantong is a private company engaged in Mechanic Ships for Underwater Dredging, Grain Seeder with High Accuracy, Cement Construction Tool in Dark Drains and also undertakes construction for river canal dredging and cement construction in dark drains.
Mark Richards, the director for Astika Holdings said: “The modernization of agriculture for farmers and increased profit potential has our initial focus on the Nantong Grain Seeder of High Accuracy which meets the requirement of agriculture modernization in China. There are large rural areas and farmers eager to utilize a multi-functional grain seeder to improve yield in seeding rice, oilseed rape, corn, beans and wheat to supply the growing Asia and world markets. Additionally, the Nantong seeder performs a multi-function agriculture process which reduces the utilization of tractors, lowers the associated costs, increases the yield and uses less fertilization. Nantong’s Grain Seeder of High Accuracy also decreases pollution and protects the environment.”
He added: “We are excited about this potential growth opportunity for Astika Holdings and look forward to accelerating our acquisition plans. We appreciate the support and are excited to lead the Company and its shareholders into the future.”
Press Release, February 20, 2014