Yesterday, China Crescent Enterprises, Inc. released an on-demand Webcast presentation featuring CEO Paul Danner with a review of the company’s recently announced acquisition plans. The webcast featured China Crescent’s announcement last week of its intention to acquire a subsidiary of China Radio Technology, Ltd.
A Hong Kong-registered company, China Radio Technology Ltd. is a mobile communication hardware and software company. The subsidiary is anticipated to bring in $20 million in annual revenue. China Crescent currently generates approximately $40 million in annual revenue; therefore the contemplated acquisition could increase annual revenue in 2010 by approximately fifty percent. The company also anticipates that it could increase China Crescent’s product offerings in the growing mobile technology industry, in addition to expanding the Company’s geographical footprint in China.
A link to the Webcast is now available at the corporate website www.chinacrescent.com under ‘Recent Webcasts’ titled ‘China Crescent – China Radio Technology Ltd’.