Couldn't find the info about the share buy back but I found the boat.
OLYMPUS VENTURES INC. OTCBB--OLPV
SHARES OUTSTANDING- 6.4 MILLION
ESTIMATED FLOAT -- 2.0 MILLION
RECENT SHARE PRICE $0.50
SYMBOL--- OLPV
THE COMPANY
Olympus Ventures is a Fort Lauderdale, Florida based company, comprised of two wholly owned subsidiaries, Olympus Mills and CEA.
Olympus Mills, formed by merging six independent garment companies together; Bamma Textile, Cullman Industries, KoKo Wear, Inc., Nelson International Fashions, Barron's International and H&D Fashions has become a force to be reckoned with in the garment industry. With the mixture of these six companies, each with their own specialties, from dyeing, to cutting to knitting and sewing, makes for a well rounded company in all phases of the garment production industry.
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Olympus Venture's second subsidiary is CEA Shipping line. CEA owns and operates the ship named "Pilar del Caribe", a 2000+ ton, 272 foot vessel that delivers raw materieals to their textile subsidiaries and provides Olympus with a very commpetitive edge when processing orders on a timely baises. With frequent visits to all ports of business the company can keep a grasp on the market pulse and needs.
RECIPE FOR SUCCESS
The company is comprised of an experienced management team, long term contracts with well financed major apparel clients, very low labor costs, a fully integrated textile manufacturing and shipping operation and an exceptional quality control program.
MANAGEMENT
Recently Olympus announced the addition of Mr. Gary Russell Morgan as their new Chief Executive Officer. Mr. Morgan brings to the company 27 years of diversified management experience, with a strong background in international contract negotiations and investments.
"We're delighted to have him with us," says Roland Breton, President of Olympic Mills USA, a wholly owned subsidiary of Olympus Ventures. " His business acumen on the international front is vital to the success of the company. We needed that kind of management experience to oversee CEA, our shipping line in the Caribbean, as well as our offshore facilities in Nicaragua and the Dominican Republic. Now we can expand our interests to anywhere in the world with confidence. He adds a dimension to the company that can make us a formidable competitor in a very diversified international market."
Gary Morgan's restructuring and aggressive business plan for Olympus Ventures, Inc. was given a major vote of confidence by the new management team. Roland Bretton, President of Olympus Mills, consulting accountant Joel Marcus, Mr. Morgan, and several other key executives agreed to work for shares in lieu of salaries. This strong commitment displayed by the management team should help to add to share holder confidence.
The Competitive edge
While most of the other manufacturers send their work out, Olympus owns and operates their own knitting mills, and performs the cutting, sewing, washing, pressing, labeling hanging, boxing and shipping for their customers which allows Olympus to keep their costs at a minimum.
LOOKING TO GROW...
With all of Olympus's facilities running at full capacities, the company is actively seeking the acquisition of a new one, and is currently in negotiations with a facility that would triple its capacity at on of their Central American units.
Olympus is in the process of starting up the production of their own line of ladies and children's sportswear and active wear under the label of "OLYMPUS USA", and is expected to be in the store by Spring of 1997. Management predicts their own Olympus label will enable them to increase profitability by up to 10% on top of the 18-30% margins that are forecaster for the company by the end of the year. |
