LandStar Inc. (LDSR) Releases the Name of Its Second of Three Merger Candidate

BEIJING, Feb. 2 /PRNewswire-FirstCall/ - LandStar Inc. (LDSR; http://www.landstarcorp.com) proudly announces the name of the second China-based merger candidate in company's efforts to close its 4-way mega merger.

In Press Release on January 26, 2010, LDSR identified the first merger candidate as Hubei Sheng Di Vessel Manufacturing Co., Ltd., with market size about 10 times larger than whole of LDSR. With both merger negotiations progressing well, LDSR names the second targeted merger candidate: Wu Xin Stainless Steel Co., Ltd. This merger candidate shows gross annual revenues in range of $8 million USD and profits in range of $2 million USD. The company also demonstrates strong growth potential on Chinese heavy industry installations' market. LDSR merger negotiations with Wu Xin Stainless Steel Co., Ltd. represent another significant event for LDSR, promising to bring exceptional value into the LDSR group holdings.

Mr. Lee Congtang, CEO and Chairman of LDSR, said, "Negotiations advance as scheduled. Assuming we finalize mergers with these strong industry players, our shareholders will soon see a fundamentally different LDSR company. We are still in talks with the USA company (see filings Pink Sheets) and they are not out of the loop. We'll release their name as soon as the negotiations progress further. We are doing everything to finalize these mergers and restore the LDSR share price back where it belongs. We believe that everything happens for a reason. Our previous auditor resigned due to the harassing calls and threats made by anonymous callers and alias emails they received. This subsequently placed Hubei Chuguan industry CO.LTD audit on temporary back burner. This actually worked in our favor. Now, we are back on track with the audit. We intend to jointly (all 3 or possibly 4 companies) completed our audit and either complete the merger in LDSR and begin the process of up listing to OTCBB. Another option was presented to us is simply roll up all three audited companies into an existing OTCBB company. We wish to do whatever will give us and our shareholders the greatest return. We will examine and study all options before making that decision. An OTCBB company has been identified and is in a holding pattern for us awaiting the completion of the audit. I can assure our followers that this is being done as quickly as possible and is our top priority."

To receive future updates via email, including quarterly newsletters and company updates that may not be newsworthy, however important to the reader and followers of the company, please sign up today free at www.minamargroup.com/updates.

Safe Harbor Statement

Information in this news release may contain statements about future expectations, plans, prospects or performance of LandStar Inc. that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project" and similar words and phrases are intended to identify such forward-looking statements. LandStar Inc. cautions you that any forward-looking information provided by or on behalf of LandStar Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. LandStar Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond LandStar Inc.'s control. In addition to those discussed in LandStar Inc.'s press releases, public filings, and statements by LandStar Inc.'s management, including, but not limited to, LandStar Inc.'s estimate of the sufficiency of its existing capital resources, LandStar Inc.'s ability to raise additional capital to fund future operations, LandStar Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match LandStar Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. LandStar Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.

CONTACT: For any investor relations matters, please contact www.minamargroup.net/helpdesk, Investor Relations Department, 1st Level Support Retail Clients General Inquiry, www.minamargroup.net (IR); For (M&A) and Corporate Matters, www.minamargroup.com

SOURCE Land Star Inc.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED