Year 2 Sales Revenue Projections in Excess of $23,000,000
Plasticon International, Inc. Announces Intent to Acquire XYLOX of North America, Inc.
Year 2 Sales Revenue Projections in Excess of $23,000,000
LEXINGTON, Ky., Oct. 12, 2004 (PRIMEZONE) -- Mr. James Turek, President of Plasticon International, Inc. (Pink Sheets:PLNI), is pleased to announce that the Company has signed a letter of intent to acquire XYLOX of North America, Inc. XYLOX develops thermoplastic elastomers from crumb rubber and scrap plastic.
Plasticon International, Inc. (under the name Wicklund Holding Company) produces rebar supports, plastic lumber, and other products from recycled and recyclable plastics. The acquisition will allow Plasticon to develop new rubber/plastic composites using 100%-recycled materials, which in turn will be used to fabricate a wide array of finished products.
Mr. Turek stated, "We will be the primary and leading entrant in a new, evolutionary industry developing new, raw materials having significant environmental benefits and economic advantages over virgin resins. The Company's goal is to promote the newly created, raw material resins internationally.
"This acquisition can substantially reduce our material costs for rebar supports as well as our plastic lumbers. This resin may be used in thousands of products with uses worldwide," said Turek. "Preliminary testing is underway in the automotive industry for use in fender liners and grills. Revenues projected by XYLOX management reflect sales in excess of 23,000,000 in the second year."
For additional product information, please visit the corporate website: wicklundholdingcompany.com.
Forward-Looking Statement
This Press Release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the actual results related to the forward-looking statements could differ materially from those anticipated or implied in the forward-looking statements.
CONTACT: Equitilink, LLC
Investor Relations
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