Re: Kalistani Republic
Posted: Sun Aug 26, 2018 2:58 am
KalMD welcomes Manon-Maison to Kalistan
CFO Michelle Marks-Bennots opens new offices in Joint Venture with Lourennaise Firm
Kaliburg, Ananto
December 12, 4444
New KalMM CEO Michelle Marks-Bennots
Kalistani tech firm will conclude a deal this month which will open a long-sought after joint venture between Kalistani and Lourennaise investors in Kalistan. The New Joint venture will become an autonomous division of KalMD, and KalMD investors will capitalize 51 percent of the corporation. Lourennaise tech giants Manon-Maison will supply 49 percent of the capital for the firm. The new spin off will tentatively be called KalMM, and shall operate two manufacturing facilities in the Sulari-Yoshimi corridor.
Michelle Marks-Bennots, current CFO of Kalistani Microdivisions, will be appointed CEO of the new division, with the CFO to be named by the Lourenne. For all intents and purposes, the firm will be operated by Manon-Maison within Kalistan, and shall grant Lourenne access to Kalistani markets and resources for the first time in more than four decades.
Marks-Bennots was on hand for comment on the Joint Venture: "We've made sure that we've got our i's dotted and our t's crossed on this deal. The law requires Kalistani capital to control a majority stake in all firms operating in Kalistan, and so the way we accomplish this with Lourenne is to build a joint venture here where we hold 51% of the interest and the Lourennaise hold 49%. If this partnership is positive and profitable for Kalistan, KalMD will then reciprocate and offer to open a Lourennaise Branch where Kalistani interests hold 49% and Lourenne holds 51%. The one operation offsets the other and so forth, and the profit is split right down the middle over the entire conglomerate."
When asked whether KalMM will compete with KalMD, Banks was adamant: "No, in fact, KalMD would not have gone into the deal if we thought that. We expect KalMM to compliment the work of KalMD. Manon-Maison has a long standing track record of quality and dependable products. They have years of expertise, and will bring next generation research and development to the Kalistani market. Our consumers are looking beyond the Model 1 already, and this new influx of capital and expertise is exactly what is needed to kick the tech sector into high gear."
When asked if she thought her new division would eventually outperform the parent company, she said "It would be amazing if we did. But our success is their success, and so it is in everyone's interest to ensure that KalMM does well, both the Kalistanis and the Lourennaise."
KalMM has recently signed a lease on a 10,500 square feet office building outside of Kaliburg and will establish Corporate HQ there. OEM facilities will be established next year.
KalMM will be listed independently in the Kalsie, under the symbol stock KMM.