Bemax Inc. (OTC:BMXC) Stock In Focus After Recent News
The private label development company Bemax Inc. (OTC:BMXC) is involved with disposable diapers and products related to women’s hygiene. On Tuesday, the company announced that it had entered into supply discussions with the original equipment manufacturer, Fujian Zhongrun Paper Co. As per the discussions, the two had been exploring the possibility of creating a long-term to medium-term partnership that would focus on meeting all the possible demand for private label disposable diapers with the Bemax trademark in a fast-evolving market.
The aim of the potential definitive agreement would be to secure factory production with the OEM. Additionally, the agreement would also help in making Bemax trademarked private label products available to customers in the United States and in global distribution chains in a timely manner.
Fujian Zhongrun is the first of the two OEMs that the company seeks to engage. The Chief Executive Officer of Bemax, Taiwo Aimasiko, spoke about the latest development as well. He noted that the move into new distribution markets would potentially boost Bemax’s sales. He went on to call it a significantly progressive move towards hitting its business objectives.
On January 10, Bemax was in the news when it announced that its projected revenue for the full fiscal year of 2024 was $1.73 million. Additionally, the projected fully diluted per share net earnings for the full year were $0.00013. The projected revenue for the full fiscal year reflected a considerable improvement on the revenues of $8100 that had been generated by Bemax in the previous fiscal year.
The gross estimated profit for the fiscal year had been pegged at $1.1 million. The company noted that the profit was mainly going to be driven by the introduction of new private label brands, the signing of a new supply agreement with The Kroger Co., and the expansion of the company’s distribution network.
