Astika Holdings Inc. plans to enter the growing China dredging sector as part of the strategy through the acquisition of service, agriculture and industrial companies with Nantong Dredging Machinery Co. Ltd.
“The growth of shipping commerce in conjunction with the population increasing throughout the Nantong Region offers Astika Holdings additional growth potential in pursuing Nantong Dredging’s special techniques in underwater dredging utilizing mechanical ships for construction of river canal dredging. We believe that an acquisition of Nantong Dredging’s extensive mechanical engineering experience and network throughout China will work with Astika’s plans to expand into the dredging sector. We are excited to begin these growth opportunities which accelerate our acquisition plans. We appreciate the support and are excited to lead the Company and its shareholders into the future,” said Mark Richards, the director for Astika Holdings.
Nantong Dredging is located in an industrial zone of Shuangdian Town, Rudong County, Nantong City founded in 1998. Nantong employs senior engineers, junior engineers, economic engineers, specialized workers and senior executives who have developed special techniques in underwater dredging utilizing mechanical ships for construction of river canal dredging.
In Hebei Province, Nantong owns a technology complex building and a workshop for parts manufacturing and assembly. Additionally, in Henan Province, Nantong owns dock yards for repairing and building ships.
Press Release, February 25, 2014