Jeff Bender stated from Beijing, China, that he will continue as chairman of Nemdaco and chairman and chief executive officer of NCVI
Jeff Bender, chairman of Nemdaco and chairman and chief executive officer of NCVI stated from Beijing, China, that the company's participation in the joint venture brings NCVI's brewing capacity to over 50 million gallons of beer per year.
Nemdaco and NCVI have agreed to invest $10 million over the next six months to expand the brewing capacity to 31.
Nemdaco and NCVI have agreed to invest $14 million over the next 10 months to complete "Ice Beer" production facilities and to provide working capital for ongoing operations.
Any NCVI shareholder wanting their shares registered will pay a portion of the cost of the registration.
The company, through NCVI
, will own 65% of the brewery and will be responsible for its day-to-day operations.
Bender is the only foreigner to serve in this organization and in addition to his duties at NCVI
will be in charge of the organization's U.
is planning a private placement of its common stock to finance the acquisition.