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[QUOTE]Originally posted by casviper: [QB] This is old news but I'm watching MLXO closely. Michelex, Corp. Hires NY Investment Banking Firm JH Darbie & Co. Inc. to Complete the Purchase of AGPro Soybean Processing and Oil Assets as Well as to Fuel Anticipated Ramp Up in Business MASSENA, N.Y., Jan 25, 2007 (*********wire via COMTEX) -- Michelex Corp. (Pink Sheets:MLXO) ("Michelex" or the "Company"), a plastic manufacturing company with its offices in Utah, and an audio record production group located in New York announced today that it has signed an Exclusive Investment Banking agreement with JH Darbie, located 99 Wall Street New York, to arrange financing for up to $5 million, in order to consummate the purchase of the AGPro soybean crushing and soybean oil refining assets located at Massena, New York in St. Lawrence County. JH Darbie has stated several factors that lend insight toward their confidence in carrying out this raise, geared to enable Michelex to enter the rapidly growing soybean oil refining and processing business. The soybean market has been bolstered primarily due to recent trans-fat replacement regulations, as well as momentum towards alternative fuel and increased demand for Bio-diesel. St. Lawrence County is an ideal location for operating a Soybean Processing Plant as it provides among the lowest electrical power cost in the country; St Lawrence County has readily available farmland, and enjoys proximity to the country's largest East Coast population. Thomas Gramuglia, Chief Executive Officer of Michelex also commented from its head quarters in Utah; "Sales in our plastics business continue to ramp up nicely now that we have eliminated our debt to Wells Fargo Business Credit. We are also excited about our Plastics' Business Outlook for 2007, and share JH Darbie's enthusiasm for value driven opportunities." [/QB][/QUOTE]
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