Published: October 18, 2005
Plasticon to Complete Pro Mold, Inc. Acquisition on November 9th
At Closing, Plasticon Will Receive Plant Equipment and Contracts Valued at Close to $5 Million Annually
Plasticon International Inc. (OTC: PLNI) is
pleased to announce that the company will meet with Pro Mold, Inc. on
November 9th to complete the privately financed acquisition.
"This acquisition is truly a new beginning for Plasticon," said Jim Turek,
President and CEO of Plasticon International, Inc. "It brings to closure
one phase of the company, and represents the dawn of the next phase of the
business. Plasticon will no longer rely on contract manufacturers and we
can now control our own destiny through our own proprietary manufacturing
methodology. This is a major milestone for the company and represents a
great advance in our production capabilities."
Mr. Turek also mentioned that Pro Mold, Inc. is currently profitable and
has contracts that are worth close to $5 million annually. "Pro Mold, Inc.
is one of the premiere injection molding companies of the Midwest and we
look forward to welcoming them to the Plasticon family. As of November
10th, the Pro Mold facilities will be wholly owned by Plasticon, and will
become the centerpiece of our manufacturing operations. The Pro Mold
facilities allow Plasticon to produce up to $20 million in production and
sales annually as is. And with the addition of the new high-capacity
molding machine that Plasticon recently purchased, the plant will now be
able to produce up to $28 to $30 million in production and sales annually,"
Mr. Turek said.
For more information about the company and for important updates, please
visit the Plasticon web site online at www.plasticonintl.com. Plasticon was
recently featured in Investor's Business Daily and can be viewed on the
Investors.com web site at:
http://www.investors.com/corporatenews/nw111.asp. It can also be viewed on
the Plasticon International web site at:
http://www.plasticonintl.com/manofrecycledplastic.pdf.
About Plasticon International, Inc.
Plasticon International (www.plasticonintl.com) designs, produces, and
distributes high-quality concrete accessories, transportation signage,
plastic lumber, and office supplies which are all produced from recycled
and recyclable plastics. Plasticon is a leader, an innovator of
cutting-edge design, engineering, and production of industrial and
commercial products. Plasticon is a green Company, environmentally
friendly, using recycled plastics to produce its line of products.
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934, and
1995 for all public news releases. Statements, which are not historical
facts, are forward-looking statements. The Company, through its management,
makes forward-looking public statements concerning its expected future
operations, performance and other developments. Such forward-looking
statements are necessarily estimates reflecting the Company's best judgment
based upon current information and involve a number of risks and
uncertainties, and there can be no assurance that other factors will not
affect the accuracy of such
forward-looking statements. It is impossible to identify all such factors.
Factors whish could cause actual results to differ materially from those
estimated by the Company include, but are not limited to, government
regulation, management and maintaining growth, the effect of adverse
publicity; litigation, compensation, and other factors which may be
identified from time to time in the Company's public announcements.
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