Vmoto accelerates expansion plans

IN a bid to accelerate the international expansion of its subsidiary, Vmoto, Subiaco-based Optima Corporation Ltd is positioning itself to acquire its Chinese-based distribution partner. Optima has signed a letter of intent to acquire Freedomotor Company Ltd, an international scooter/motorcycle trading and distribution company. The deal is forecast to add total revenues of approximately $20 million for the six months ended June 30 2007, and an estimated $50 million for the year ended June 30 2008, generating NPAT of about $1.8 million and $4.1 million respectively. Freedomotor has an office based in Shanghai and has more than 30 clients in Europe, Australia, North America, South America and South Africa. Last month, in line with its strategy to foster international opportunities, Vmoto signed a distribution agreement with The Sharaf Group, headquartered in Dubai, United Arab Emirates.


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Vmoto (VMT)

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