MEDIA RELEASE 4 April 2007
BBX acquires quality trade exchange
ASX-listed barter exchange group BBX Holdings Limited (BBX) has announced
the acquisition of Tradex Pacific, which has been operating in Victoria since
BBX Managing Director, Michael Touma, says this latest move provides a
significant boost to the BBX business base in Victoria.
“This acquisition provides a welcome injection of members in established markets
in Melbourne and the outer metropolitan area, and we expect to net about 200
members,” said Touma.
“Trading opportunities will be enhanced for both existing BBX members and new
BBX members from Tradex by the stimulation in trade activity this acquisition is
expected to provide.
“Generally speaking, BBX can add 5 to10 percent to the turnover of member
businesses by introducing new business through the trading system,” he said.
BBX successfully listed on the ASX in August 2005 to become the only publicly
listed barter exchange in Australasia.
The company has moved offshore with the establishment of master franchises in
New Zealand, where it has operated since 2001, India and most recently, China.
Other international franchises are currently being negotiated.
BBX is a membership based barter trade exchange whose primary role is to
generate new business for any type of business and show them how to offset many
current cash expenses by utilising down time or idle inventory in their
The trade exchange uses trade dollars, which have par value with the local
currency, to assign value to the transactions that take place between members.
In essence, the exchange acts as the third party record keeper, similar to a
The company also offers a broader range of financial services in areas such as
mortgage broking via BBX Money, insurance, business finance and financial
planning through their latest initiative, BBX Financial Advisors and property
services through BBX Real Estate and its NSX-listed Property Fund.
BBX has offices and/or franchises situated throughout Australia and operates in
both islands of New Zealand. Member businesses in these two countries traded in
excess of $146 million in the financial year ending 30 June 2006, averaging over
$33,000 per member business.
BBX can be contacted by phoning 1800 222 229 or visiting the website
www.ebbx.com. BBX Money can be contacted by
phoning 1300 200 BBX (1300 200 229).
Released for BBX by Dennis Rutzou Public Relations (www.drpr.com.au).
For further information please call Aleks Czerwinski or Teanne Ryan on (02) 9413