Published: October 27, 2005
Plasticon to Complete Acquisition of SEMCO Manufacturing on November 17th
CEO Jim Turek: SEMCO, a Pioneer of Resurfacing Technology, Will Be a Major Profit Center for Plasticon
Plasticon International Inc. (OTC: PLNI)
announced today that the company will meet with SEMCO Manufacturing, Inc.
on November 17th, 2005, to complete the privately financed acquisition.
"The final product review stage of SEMCO's surfacing technology is finished
and we look forward to completing this acquisition on November 17th," said
Jim Turek, President and CEO of Plasticon International, Inc. "This
acquisition has generated a lot of excitement because the industry realizes
that Plasticon's rebar support products and SEMCO's surfacing products,
offered together, will represent the most advanced waterproofing solution
in the marketplace today for the construction industry. SEMCO's products
are recognized as the best of breed surfacing products and technology in
the United States. SEMCO's reputation as a
cutting-edge surfacing technology company has also extended oversees. As a
result they have opened offices in Japan, China, Singapore, and Australia
to meet demand."
Because SEMCO's advanced surfacing technology is both unique and essential,
Mr. Turek believes that SEMCO Manufacturing will add tremendous value to
Plasticon's bottom line. "SEMCO's
water-based resurfacing products, which
cross-link chemically to any material they are being bonded to, reinforces
the density of virtually any surface, including concrete, tile and wood to
name a few. There are almost endless applications for their
cutting-edge products. That's why we are confident that SEMCO will be a
major profit center for Plasticon."
According to Mr. Turek, Plasticon has already received serious inquiries
from
ten major licensees who are interested in distributing SEMCO's products.
"Since our announcement about the letter of intent to acquire SEMCO, we
have been inundated with phone calls and inquiries about SEMCO's product
line. In fact, we already have ten potential regional licensees lined up to
distribute SEMCO's products. The reason for this is simple: SEMCO's
products are both essential and unique. They have the only product on the
market which truly prevents water damage. This problem has always plagued
the construction industry and costs the U.S. billions of dollars annually."
Mr. Turek noted that the product synergies with Plasticon's existing
recycled plastic rebar support product line and SEMCO's surfacing products
will allow Plasticon to immediately begin offering SEMCO's products to
existing customers. "SEMCO's surfacing products add years to the life of
the structure by eliminating the absorption of water into concrete. Until
now, water damage has corroded the metal rebar support which has been used
in bridge construction in the past. The combination of Plasticon's rebar
supports, which are impervious to water because they are made from recycled
plastic, and SEMCO's surfacing products, which completely waterproof the
structure they are bonded to, is unprecedented in our sector," Mr. Turek
said. "These two products, offered together, give Plasticon an enormous
competitive advantage. We will be the only company in our sector that can
offer a truly comprehensive waterproofing solution to the construction
industry."
SEMCO Manufacturing, based in Las Vegas, Nevada, since 1981, has provided
their surfacing products to many of the city's most impressive showcase
projects, including the world-famous fountains at the Bellagio, Las Vegas's
premier hotel-casino, the MGM Grand and The Venetian Hotel-Casino. Their
eclectic customer base also includes high-profile commercial, public and
private clientele. Projects have ranged from critical government facilities
(the flooring of the Pentagon) to elementary schools, community centers and
many prominent parks and public works projects to the Bioshpere project,
where the SEMCO team provided the materials for the creation of a lush,
fully functioning indoor rainforest. SEMCO's product line is noted for its
incredible durability which is why it is used on heavily trafficked
walkways, in extreme outdoor weather conditions, in chlorinated pool water
and on rugged exteriors.
For more information about the Plasticon International 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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