ROCKVILLE, MD / ACCESSWIRE / June 30, 2020 / Clancy Systems (OTC PINK:CLSI), has executed a stock purchase agreement to acquire OBOCON LLC, a global commodity and consumer products trading company. Sam Mathew, the President of OBOCON will lead CLSI in the role of President of CLSI. Established in 2013, OBOCON continues to deliver a core group of products on a global scale to its customers all over the world. OBOCON sources, sells, and distributes a variety of products to customers in the USA, Middle East and Africa.
Sam Mathew, founder and President of OBOCON, said that this acquisition by Clancy Systems fits well with our value creation plan for its shareholders. This investment allows us to diversify our customer base and allows us to add new product categories including high value commodities. OBOCON started its trading business by selling chemicals to manufacturers that produce household chemicals. As a company focused on sourcing commodities and finished products at the source, we are able to maintain the level of comfort with all our customers. In 2018 the company decided to diversify by building on its years' worth of experience and network of relationships. Our sourcing and marketing excel in research, evaluation and qualification of products, technologies, organizations and information - particularly for opportunities that are unique from a product availability standpoint.
OBOCON has identified many unique opportunities in the mid-level companies and we are in the process of consolidating these opportunities and streamlining operations through an acquisition-based growth strategy.
Sectors that OBOCON plans to expand through acquisitions that are already lined up:
- Chemicals and Fertilizers including Industrial Products
- FMCG including Specialty Food Items
- Medical Supplies and Pharmaceuticals
- Valued added reselling of IT Products
- Commercial Printing and Bound Books
OBOCON has an extensive portfolio in a variety of industries, and it enjoys direct access to some of the world's strongest providers of commodities such as food, agricultural, and other industrial products, who are prepared to deliver products to qualified buyers on time and as promised. OBOCON aims to assist manufacturers to promote the sale of their high-quality products and materials at competitive prices in the global marketplace, providing profitable export strategies, and developing long-term relationships with foreign buyers, distributors, and agents.
Investor Contact:
Suresh Venkat
Phone - (703) 310-7334
Email - investor.relations@obocon.com
SOURCE: Clancy Systems
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