New Equipment and Molds Purchased
( Business Wire )
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( BW)(BEACON-LIGHT)(BLHG) New Equipment and Molds Purchased
Business Editors
STAMFORD, Conn.--(BUSINESS WIRE)--August 19, 1998--Beacon Light
Holding Corporation (OTC-BB: BLHG) announced today that its
subsidiary, Beacon Light Xinhui Plastics Corp. has purchased from the
creditors of PSN Group from the Netherlands and the court in Xinhui,
Peoples Republic of China, ten additional plastic injection machines
for its factory plus molds needed in the production of various plastic
products valued at approximately one million US dollars. Beacon Light
Xinhui was able to reach this agreement after lengthy negotiation in
China by its president, Jerry Gruenbaum with the help of Fukman Yip
another Beacon Light board member, a representative of the Company's
CPA firm in China and the special help of Mr. Pan Jian-Wei, Director
of the People's Government of Xinhui City GuangDong, Foreign
Investment Introduction Office.
The machinery and molds are currently in the Beacon Light Xinhui
factory set up and ready for production. According to the Plant
Manager, Meng Tian, the most valuable part of this purchase is the
molds. These newly purchased molds will add to the existing supply of
molds already being used for production in the factory. The new molds
include 20 sets made in Holland for the production of food containers
of various sizes and shapes. Also from Holland are molds for the
production of plastic window blinds. And from China molds for various
other products including salad spinners, waste baskets, mixing bowls
and a beverage cup. These molds fit both the existing plastic
injection machines operating in the Plastics Factory, as well as the
newly purchased plastic injection machines. All of the plastic
injection machines were manufactured in Germany.
Safe Harbor Disclosure
This Press Release contains or incorporates by reference
"forward-looking statements," including certain information with
respect to plans and strategies of Beacon Light Holding Corporation.
For this purpose, any statements contained herein or incorporated
herein by reference that are not statements of historical facts may be
deemed to be forward-looking statements. Without limiting the
forgoing, the words "believes," "anticipates," "plans," "expects" and
similar expressions are intended to identify forward looking
statements. There are a number of important factors that could cause
actual events or actual results of Beacon to differ materially from
these indicated by such forward-looking statements.
For further information about Beacon Light, please contact Jerry
Gruenbaum at 203-921-0310 or go to www.blhg.com
--30--rg/ny*
CONTACT: Jerry Gruenbaum, President
gruenbaum@blhg.com
Phone: 203-921-0310 Fax: 203-921-0361
KEYWORD: CONNECTICUT
INDUSTRY KEYWORD: BANKING |
