Company engages New York City Blockchain consulting and development firm, Blockchain Driven to assist with its strategy
Sterling Merged Corp. (OTC: STCC) (The Company), a leading supplier of hydraulic and pneumatic seals to the automotive and industrial marketplace, recently declared another forward step in its planned growth strategy. The Company has declared plans for DiMO, a decentralized international marketplace for O-rings.
“We believe that, based on its highly fragmented structure with thousands of distributors and very few suppliers in Asia, the O-ring industry lends itself perfectly to utilization of the Blockchain and smart contract technology,” said Darren DeRosa, the Company CEO. “Our aim is to solve a problem for the entire O-ring industry and bring a new technology to a mature industry. Presently there are very high inventory carrying costs, and international suppliers require up-front payments on purchases which take months to deliver. Both of these factors put great stress on the cash flow of the average O-ring distributor. With DiMO we believe we can reduce financing costs and inventory carrying costs for the distributor and create better and faster service for O-ring customers.
Sterling has partnered with an expert Blockchain tech agency, BlockchainDriven (www.blockchaindriven.com) to lead their integration efforts. “We consider that BlockchainDriven is the leader in the Blockchain space,” said DeRosa. “Their team will assist take our planned aims and integrate them on the Blockchain, utilizing the most recent industry research and technology.”
About Sterling Merged Corp.
Sterling Merged Corp., through its wholly-owned partner, Sterling Seal and Supply has been a leading supplier of hydraulic and pneumatic seals to the automotive and industrial marketplace for more than 40 years. Through a combination of leveraging its logistical expertise and sophisticated, practiced administration, the company intends to be an active and planned consolidator of small- and mid-sized businesses within the highly-fragmented, multi-billion dollar seal industry. Presently serving more than 3,000 customers, Sterling offers acquisition targets an exclusive growth opportunity and competitive advantage through logistical expertise, strong regional branding and industry-specific distribution center.