Caravelle international group's ceo sells company his sawmill and laminate wood flooring factories valued at $30 million for $1

Acquisition could add $150 million in revenue and $30 million in profit when operating at full-scale singapore , april 26, 2023 /prnewswire/ -- caravelle international group (nasdaq: caco), a global ocean technology company, today announced that the company's ceo dr. guohua zhang has sold penxing gabon sarl to caravelle for $1.  penxing gabon sarl owns and operates a sawmill and laminate wood flooring manufacturing facilities in gabon, africa capable of producing 100,000 cubic meters of sawn timber and 2.5 million square meters of wood flooring per year.
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