Business & Finance

Ramoil Management Affirms Bid to Acquire Pacific Dunlop Automotive Divisions

BusinessWire - July 18th, 2001

Nevada, Las Vegas-based Ramoil Management Ltd. received the collateral today from Century Capital to buy the Pacific Automotive Divisions of Pacific Dunlop in Australia.

Gary W. Walters, chairman/chief executive officer of Ramoil, said, "We have the management team in place for developing new marketing strategies who have been in Australia several weeks trying to work out final details of the purchase."

Walters' idea has been to create a global automotive marketing group which would necessitate a name change to "Jump Automotive Experts" which would have a potential $9 billion market cap.

When Walters accepted the CEO position of Ramoil Management Ltd. late last year, the debt was enormous; lawsuits were numerous. Today the debt is within reason, less than $175,000, and there is only one lawsuit.

Upon completion there will be $6 billion in cash flow, $2.9 billion in assets, and an EBITDA of approximately $240 million annually. The intention of the merger is to create an exciting stock investment eventually paying a cash dividend.