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http://www.omniture.com --> Sections Home Page Local News AP News Blogs Archives Business Classifieds Event Calendar Forums Life Opinion Obituaries Multimedia Photo Gallery Readers Photo Gallery Sports Tempo Weather Road Cams Special Coverage 2006 Britt Festivals --> Shop Our Valley AutoFinder HomeFinder JobFinder Search Our Valley Special Sections Distinctly Northwest Readers' Choice Homelife Magazine Joy Magazine Oregon Golf Info Oregon Wine Info Other Publications Local Links Ashland News eSouthernOregon Newspapers In Education Personals Moving Here Movie Listings TV Listings Volunteer Customer Service Advertise With Us Media Kit Place Classified Ad Contact Us FAQ's Home Delivery Site Map --> Email Story to a Friend January 26, 2007 Bill Patridge, president of 360 Interchange of Ashland, announces that the company that brokers goods from China has begun selling shares publicly. (Mail Tribune / Roy Musitelli) TRADING FIRM GOES PUBLIC The Ashland company matches goods from Asian manufacturers with U.S. retail and wholesale outlets By Greg Stiles Mail Tribune Ashland-based global trading firm 360 Interchange said Thursday that it has begun selling its shares publicly. The firm matches high-volume quality manufacturers, primarily in China, with high-volume retailers and wholesalers, primarily in the United States. It anticipates raising $1 million in the next 60 to 90 days. In its first full year of operation, the company produced $1.8 million in revenue. Founder and Chief Executive Bill Patridge projects revenue of about $20 million in 2007. Unlike Lithia Motors or Harry & David Holdings, 360 Interchange doesn't aspire to be traded on the New York Stock Exchange. Instead it will be available through securities brokers in what is known as over-the-counter trading. Small bank stock is frequently traded in that manner. "With all of the new laws and restrictions involving public companies, it's cheaper and a simpler to go this route and it accomplishes the same thing," Patridge says. Advertisement Initially shares can only be sold through Nevada securities dealers, but it will soon be available in New York state and then the rest of the country, Patridge said. The company expects to sell 6 million shares, priced at 15 cents. This is the fifth time Patridge, who moved to Eagle Point in 1973, has taken a company public. He took Southern California ventures Future Communities and Data Link Corp., public before moving north and taking Southern Oregon companies Patco Industries and Applied Laser Systems public. The difference in past and present ventures, Patridge says, is that 360 Interchange "will be substantially larger in size and I will own controlling interest in it." The company has aggressively developed relationships with mainland China manufacturers and is getting involved in shipping across the Pacific as well. At first, the idea was to match factories making products such as flooring and plastics with major buyers. More recently, however, the company altered its plan slightly. "We're looking for proprietary positions, combining China and U.S. markets," Patridge said. "Our relationships are unique so we're not in the middle of the fray between competing Chinese factories." To that end, 360 Interchange has signed a deal with Micro Cell, a plastics manufacturer that produces a cutting-edge ecologically approved biodegradable plastic that is produced both in Wenchou, on the mainland, and in Taiwan. "We've had contact from major toy manufacturers, shoe manufacturers and flooring manufacturers," Patridge said. "This stuff will replace vinyl throughout the world and we have an exclusive agreement for marketing and product development." A shipping company deal and other acquisitions are in the works as well, Patridge said. "The stock offering will help fund that," he said. In recent weeks, 360 Interchange has brought on Robert Bury as vice president of product development and Greg Morrison as building products VP. "We hired the guy that developed (national outdoor equipment retailer) REI and took it from one store to hundreds of millions in sales," Patridge said of Bury. Greg Morrison has worked with 50 major manufacturers, the company president said, "resulting in millions of dollars in deals." Reach reporter Greg Stiles at 776-4463 or at [email protected] Would you like to respond to this story? If so Click Here to visit our forums. Advertisement Copyright © 1997-2007 Mail Tribune, Inc. All rights reserved. Privacy Policy | Terms & Conditions | Website Feedback online casinos news Home Security Systems Online Casino Reviews Fundraisers UK Homeowner Loans Casinos Canada Cord Blood Banking Entertainment Guide Texas Electric Choice Compare Electric rates in Texas Windermere Van Vleet Trunks, Footlocker Men's Clothing Debt Help