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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.
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."
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FROM DB post PLNI board! millionaireINtheMaking wrote: I just got off the phone with Bill Howe and I asked him a few of the questions that have been asked on this board. I will try to be as detailed as possible about his answers, but we spoke for about 10 minutes and I can't really convey everything in a single post.
First, he said the contract with R&S is bigger than it sounds. R&S is highly regarded in the industry and they supply many smaller companies, which not only gives credibilty to Plasticon, it also will bring in sales. He mentioned something about R&S manufacturing their own stuff, which led to my next question:
Does Plasticon manufacture their own products in house? No, it is currently contracted out and they are in the process of doing it in house. They are looking at two facilities right now (they will choose one) to move into to begin their own manufacturing. He said the facility will be state of the art and will be more cost effective utilizing their new molds (http://biz.yahoo.com/pz/050516/78223.html). I asked him when they planned to do this and his response was "yesterday." In other words, they are working to do it as soon as possible.
He said right now they employ 10 people in their administrative office and 40-50 (sub)contractors who do the production.
I also asked about the Micro-Cap summit in New York and if they were invited or if they applied to be a presenter and he told me they were invited to present. Of course, they are excited about this opportunity. I asked if they would be fully reporting before the summit and he said they can't promise a date to be fully reporting because there are a lot of things beyond their control with the SEC. Went to ask a follow up question and he stopped me and said he wanted to be clear that right now it is the number one priority of Plasticon to be a fully reporting company. They are doing everything they possibly can to finish as soon as possible. The lawyers have been in contact with the SEC getting guidance and counsel to speed the process up. He said the paperwork is already prepared and they are not strangers to the SEC so hopefully, they (the SEC) will approve their application quickly once the audit is complete.
Finally, I asked if the audit would be finished by June 15th for the summit and he said they are doing everything they can to make sure it is. Obviously, it would be best if the audit is finished before their presentation and they are staying on the auditors everyday to make sure it is ready.
He said the next PR would be announcing that they were invited to present at the micro-cap summit, so I think we have until the 15th or maybe a little earlier before we get some good PR. He also said a PR would be released as soon as the audit is complete with the results
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Could some one educate me please? Why is it that with all the news, PLNI can't hit .02. Does the market maker control this?? Seems like it can hit 195 and 199 but for some reason they just won't let it bust .02. Seems very strange and manipulative to me. Let the sucker RUN. (any education for a novice would be helpful)
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Plasticon Announces That They Will be One of Six Presenting Companies at the Wall Street Reporter`s Microcap 5 Investors Summit Conference
June 02, 2005 11:50:16 (ET)
LEXINGTON, Ky., Jun 2, 2005 (PRIMEZONE via COMTEX) -- Plasticon International Inc. (Pink Sheets:PLNI) today announced that the company will be presenting at the Wall Street Reporter's Microcap 5 Investors Summit conference.
The conference, which takes place in New York City on June 15th, will feature 6 CEOs who will present to a distinguished panel for 15 minutes each. The CEOs will then be grilled by the panel regarding their presentations and their company's fundamentals. "I certainly relish the opportunity to tell our story and make our case to some of the most sophisticated investment minds in the country," said Jim Turek, President and CEO of Plasticon International, Inc. "Presenting at this conference is an important step for Plasticon and gives us exposure to a very influential segment of the investment community."
Mr. Turek noted that there are five main points he would like to demonstrate to the panel and conference attendees. "First, Plasticon has superior technology and I would like to relate that to some of our recent product announcements, which put us light years ahead of the competition. Secondly, we have the distribution and partnership relationships in place to become the dominant force in the recycled plastic sector. Third, our management team is seasoned and has the international experience to steer our company to become the top recycled plastics company in the industry. Fourth, we are in the process of making a privately financed acquisition that is crucial to the strategic positioning of the company. And finally, we have launched a new marketing and PR campaign, which is effectively telling our story to our shareholders, customers, and to the general public. We believe that we have a compelling story and serious investors should consider taking a position with our company."
As a final note, Mr. Turek mentioned that he will also be discussing Plasticon's upcoming transition from the Pink Sheets to OTCBB. "Our transition strategy is a very important issue for institutional investors, investment banking firms and high net worth investors," Mr. Turek said. "A full company audit will be completed in weeks, and that is a significant step toward becoming fully reporting, transitioning to the OTCBB and eventually becoming a big board stock. There are many positive developments with Plasticon International to report, and I'm looking forward to presenting at this important forum."
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 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.
quote:Originally posted by GVMOORE: Thanks Pearser for all these great PR updates. This baby should bag a buck by deer season. MRKL may be a 10 pointer too.
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PLNI might just run on Monday. Look at the trend on a bar chart. People should have available funds as more sells have been going through in the last thre days so far and the price is holding above .017
quote:Originally posted by Balder: Its not on the SHO list because (as I understand it) only fully reporting companies are on the SHO list and PLNI is still a month or more out from moving to the OTCBB's.
When they published the first SHO list in January, when they accidently included all the Pinksheets, PLNI was listed.
btw, I am a long time PNLI investor. Currently hold 40mill shares.
Are you a millionaire yet? With that many shares, I believe that your entry price is way below my .0033.
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