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Neways was sold to Golden Gate Capital in 2006 and considering that the exchange, Golden Gate has sold off assets like the corporate headquarters and manufacturing facilities in Utah. Much like its purchase of Herbalife, this indicates Golden Gate are liquidating Neways in planning of a utilize the funds raise.. or off as a former shell of it self.
Sisel International released a press release on 8 June 2007 in a reaction to the suit issued against them by Neways International.
Neways was sold to Golden Gate Capital in 2006 and because the order, Golden Gate has sold off assets like the corporate headquarters and production facilities in Utah. Much like its acquisition of Herbalife, it appears Golden Gate are liquidating Neways in planning of a make use of the funds raised for other take-overs or off as a former shell of it self.
Sisel International is run by Darrick Mower and Tom Mower Junior, the daughters of Tom and Dee Mower have been the pioneers of Neways International. It has a little range of nutritional products available but plans to create to market a bigger range of personal and nutritional health products that they claim could be the highest quality with regards to efficiency and safety for customers. Additionally, it claims to truly have a compensation program that's ironed out all of the foibles of other compensation plans currently available.
Neways International was the initial business built by Tom Mower Senior and Dee Mower. It was sold to Golden Gate for an estimated $US700 million. Whilst the Mower Mission was the core of building Neways, a threat is posed by Sisel to Neways due to the devoted rep bottom following the Mower Mission and not the brand new Neways under Golden Gates control.
Tom Mower Junior explained We will aggressively defend our right to give you the best products anywhere. We arent enthusiastic about taking inexpensive shots at our competitors. This seems to be the Mower way, getting on with the job. Further Darrick Mower stated We recognize this suit for what it is: a transparent attempt to slow by litigation the progress of what could become the best network marketing business in history.
Golden Gate had no opinion preferring to let their attorneys do the talking in court.
In any event, the suit isn't great for an incredible number of Neways suppliers who remained faithful throughout the takeover. The complete business is dependent on the suppliers continuing to market services and products through their systems. These distributors have become devoted to harmful- ingredient-free products and now that the manufacturing facility has been sold, the integrity of the products themselves is in doubt.
Total it appears as if Neways is actually a house of cards prepared to are categorized as Golden Gates administration. visit link
