Published:
Plasticon Completes Pro Mold, Inc. Acquisition
Plasticon International Inc. (OTC: PLNI) is
pleased to announce that the company has successfully completed the
privately financed and definitive agreement for the acquisition of Pro
Mold, Inc., pending SEC approval. Plasticon will be receiving plant
equipment and current contracts valued at close to $5 Million.
Pro Mold, Inc. is currently profitable and generates revenues of
approximately $5 million annually. Pro Mold, Inc. is one of the premiere
injection molding companies of the Midwest. The Pro Mold facilities will be
wholly owned by Plasticon, and will become the centerpiece for
manufacturing operations. As a result, Plasticon will no longer rely on
contract manufacturers, thus improving the company's bottom line.
The Pro Mold facilities allow Plasticon to greatly advance production
capabilities. 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 sales annually.
"This acquisition symbolizes a move to the next level for Plasticon, we can
now control the future of the company through our own proprietary
manufacturing methodology. This is a great day for Plasticon and our
investors," stated Jim Turek, President and CEO of Plasticon International,
Inc.
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.
For more information, please visit the Plasticon web site online at
www.plasticonintl.com, or Contact Investor Relations at: 1-866 THE APPL(E).
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 which 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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Tags: ,Chemicals:Plastics and fibers, ManufacturingandProduction:ForestandPaperProducts, ManufacturingandProduction:PackagingandContainers, ManufacturingandProduction:Textiles, ,INTHPINK,KY,LEXINGTON, KY
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