Rochester, NY, Jun 01, 2005 (M2 PRESSWIRE via COMTEX) --
OTCStockExchange.com's "Stock Watch Alert" this morning are BICO, Inc. (Pink Sheets: BIKO), ERHC Energy (OTCBB: ERHE), Plasticon International Inc. (Pink Sheets: PLNI), BNP Petroleum Corporation (Pink Sheets: BPET).
Plasticon International Inc. announced that the acquisition of Semco, Inc. will be a privately financed cash transaction. Private financing has been arranged due to the profitability of Semco.
''There will be no dilution of Plasticon's stock as a result of this transaction,'' said Jim Turek, President and CEO of Plasticon International. ''This acquisition will add tremendous value to Plasticon. Semco's ground-breaking products literally have no competition in the marketplace. Our current distributor is the largest building materials distribution company in the nation. Should our distributor agree to distribute Semco's product line, the impact on our sales would be absolutely staggering. Their surfacing products are unique and they fill an extremely important and profitable niche. They have the only product on the market which truly prevents water damage. This problem has plagued the construction industry and cost the U.S. billions of dollars annually. Semco's products completely waterproof the structure they are bonding to.''
Semco's products are able to waterproof the structure they adhere to because of the advanced technology behind their product line. Their products chemically link and bond with the surface they are applied to, which makes them essential to construction companies and distributors.
''Not only are their products unique,'' Mr. Turek said, ''they also perfectly compliment our recycled plastic rebar support products. This would be product synergy at its best. A perfect example of this would be the application to bridge construction, which is a huge segment of construction industry. A very high percentage of bridges are plagued with water damage problems, and that's why companies increasingly have turned to Plasticon's rebar support products. Now we have the opportunity to sell Semco's concrete coating products to those same customers, which adds a critical layer of waterproofing protection.''
Semco's 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. Water damage costs the U.S. billions of dollars annually. ''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, are the next killer application for the construction industry.''
On May 31st, Mr. Turek will be featured on a webcast at http://www.*************.com to discuss the acquisition and other recent developments at Plasticon International. For more information about Plasticon International, please visit http://www.plasticonintl.com .
BNP Petroleum Corporation, an independent oil and gas company, announced today restarting of "Hooks" lease located on Wichita county Texas, after accomplishing few modifications and upgrades on some wells, on the last few months. The shallow wells previously had been producing oil and water at low rates due to low bottom pressure, which is normal for the area. Steadily increasing rates of production for Hooks lease are expected.
BNP Director, Rafael Pinedo said today, "BNP Petroleum will begin immediately to restart other leases in our portfolio of properties and complete all necessary work to assure that BNP's properties are in full compliance with the regulations of the Texas Railroad Commission and re- establish oil production on BNP's leases over the coming months."
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we should keep a .015+ base. that was our close over the long weekend. should be a strong support level. doubt many selling today that were holding before long weekend. probably yesterdays winners.
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Plasticon Announces Major Contract with R&S Manufacturing, One of the Largest Manufacturers and Suppliers of Concrete Post-Tension Construction Cable in the U.S. via COMTEX
June 1, 2005
Contract with R&S Manufacturing Mirrors Industry Shift from Metal Rebar Support to Plastic Rebar Support
Plasticon International, Inc.: Jim Turek www.plasticonintl.com or Investor Relations: Bill Howe, 800-889-0915
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Plasticon Announces Major Contract with R&S Manufacturing, One of the Largest Manufacturers and Suppliers of Concrete Post-Tension Construction Cable in the U.S. Wednesday June 1, 11:20 am ET Contract with R&S Manufacturing Mirrors Industry Shift from Metal Rebar Support to Plastic Rebar Support
LEXINGTON, Ky.--(BUSINESS WIRE)--June 1, 2005-- Plasticon International Inc. (Pink Sheets - PLNI) today announced that the company has signed a major contract to supply R&S Manufacturing with nearly a half million dollars of recycled plastic rebar supports. Plasticon's patented rebar supports will be supplied to R&S's customers with their post-tension cable products.
"We are thrilled about this contract with R&S," said Mr. Jim Turek, President and CEO of Plasticon International. "But more importantly, we are very excited about establishing and growing the relationship with R&S Manufacturing. We believe that this deal, combined with our existing contract with the largest distributor of building materials in the U.S., will give Plasticon the ability to dominate our sector. Not only do we have an edge with product development and technology, we also have a definitive edge in terms of our distribution relationships and our partnerships with companies such as R&S."
R&S Manufacturing, which has been in business for over 20 years, is one of the leading post tension cabling suppliers in the United States. Post tensioning, which is used in slab construction, is a method of strengthening and reinforcing concrete using steel cables. "R&S's products and Plasticon's products will work together seamlessly, and will provide construction companies with the best in breed solution for strengthening concrete," Mr. Turek said.
Additionally, R&S Manufacturing has indicated an interest in supplying their clients with Semco, Inc.'s line of surfacing products, which reinforce and completely waterproof concrete. Plasticon recently signed a letter of intent to acquire Semco in a privately financed cash transaction. "Of course we are very encouraged to see that our new clients and partners are so interested in Semco's surfacing products. We are seeing the potential importance of that acquisition on the street level every day."
Mr. Turek also noted that as an industry trend, it's significant to see companies like R&S Manufacturing moving towards recycled plastic rebar supports. "Of course, R&S manufactures and supplies steel cable. But it's notable that for rebar supports they are now shifting to recycled plastic supports which provide construction companies with a more durable, dependable, cost-effective solution. R&S Manufacturing, as one of the oldest, most trusted names in post tensioning cable sector, will have a major impact in our industry in terms of the acceptance of recycled plastic rebar supports as the industry standard."
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.
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