Victory Marine Holdings (OTCPK.VMHG) announced today their attendance at the International Boatbuilders Exhibition Conference (IBEX) located in Tampa, Florida. The attendance at this show coincides with the Company’s efforts to continue developing a key component of the corporate growth strategy, to begin manufacturing the company’s own line of boats.
Orlando Hernandez, CEO of Victory Marine Holdings, stated, “This show is the beginning of a very busy month for the company. I am leaving next week to go to meet with a boat manufacturer in China and to do a sea trial on a vessel that is ready to market immediately. From there I will be travelling to the United Arab Emirate (UAE) to attend the Abu Dubai International Boat Show (ADIBS) and then will be back in Florida at the end of the month for the Fort Lauderdale International Boat Show (FLIBS). All of this travel is to finalize the contracts and to begin production of our own line of boats.”
The Company stated that its growth strategy is focused on three key elements. First, the expansion of the sales team and current inventory, as announced last month with the addition of Mr. Gary Beaver. Secondly, the Company is very active to begin manufacturing its own line of boat trailers and has already established a wholly owned subsidiary called Excalibur Trailers USA, Corp. “Our plan for the trailer manufacturing is to lease a facility in this quarter so that we can begin manufacturing our own trailers to immediately market and sell,” continued Mr. Hernandez. “Another reason we brought a team to this IBEX show was to see the new advances in components and systems for our trailer manufacturing company. We expect to be in production before the end of the year.”
The third emphasis for growth is to begin to manufacture and sell the Company’s own, unique line of boats. Mr. Hernandez addressed this opportunity specifically, “This is truly the most ambitious portion of our growth strategy, but with most boat manufacturers operating way beyond their capacity and extreme wait times for new boats coming off the assembly line, we have a real opportunity to enter the market at a very competitive price point and still preserve a very strong profit margin. We are in a time where the market is demanding more production and more product. We feel like we have the right contacts and relationships to bring a new line of boats to the market and to win strong market share and demand. I am hoping we can sign a deal regarding this during my time in China.”
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Press release: globenewswire.com