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International Shoe Manufacturing Corp Update:
International Shoe Manufacturing Corp. (Ticker-ISHO) has acquired the final-stage
financing to begin full-scale production at its plants in India. The $4.75 million is being
used to purchase the final equipment needed to begin production at the company’s existing
plant in India. With equipment in place, the company projects net profits of over $25
million a year within two years.
The company stated that the financing will be followed up by a $9 million dollar IPO in
India, anticipated for March 1999. The IPO will be handled by underwriters in India, and
will leave ISM with control of its wholly owned subsidiary in India. The proceeds of the
IPO will pay off the $4.75 million dollar financing. The balance will be used for the
acquisition of additional shoe manufacturing.
ISHO is in the business of manufacturing athletic footwear for the world’s leading shoe
companies. It owns a 23,000-square-foot plant located in the protected “free trade zone” in
Noida, just outside of New Delhi, India, where skilled labor is plentiful and very
inexpensive. The Indian government recently developed new economic policy to attract
foreign investment that is export-oriented, and could employ large numbers of people.
ISM is the only athletic shoe manufacturer in India directed toward the international
market. It currently has contracts with Adidas and The Pentland Group. These two
companies have agreed to purchase all the shoes ISM can manufacture.
The athletic shoe industry is estimated at $14.25 billion a year. The world’s leading shoe
companies such as Adidas, Nike, and Reebok do not manufacture shoes. They are design
and marketing organizations that spend hundreds of millions of dollars a year getting their
products sold. They then rely on others to manufacture to their specifications. Almost, if
not all athletic shoe manufacturers are privately owned, benefiting from the hundreds of
millions of dollars spent on advertising by the name-brand companies. The result is an
open purchase order where such manufacturers literally can sell every pair of shoes they
can produce. A business like this lends itself to being privately held due to the large cash
flow allowing for internal financing. International Shoe Manufacturing Corp. is the only
company known to exist that offers a public investor the opportunity to own a share of this
highly lucrative business in a pure investment play.
For inquiries please contact the office of the director of investor relations toll free at:
877-ISM-CORP (877-476-2677) or send your e-mail request to nsi at smallcapjournal.com Your request will be handled immediately. Or write to ISM Corp at P.O. Box 520310 Longwood, Florida 32752
Please visit ISM’s web site at www.ismcorp.net
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this press
release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of
1995. Forward-looking statements involve known and unknown risks and uncertainties which may cause the company’s actual
results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things,
product price volatility, product demand, market competition, risk inherent in the company’s domestic and international operations,
imprecision in estimating product reserves and the company’s ability to replace and expand its holdings.
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