New Venture's First Year Sales Projected at Over 50 Million Dollars
( Business Wire )
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( BW)(BEACON-LIGHT-HOLDING)(BLHG) New Venture's First Year Sales
Projected at Over 50 Million Dollars
Business Editors
JERSEY CITY, N.J.--(BUSINESS WIRE)--April 20, 1998--The Chairman
of Beacon Light Holding Corporation (NASDAQ OTC BB "BLHG") Jerry
Gruenbaum announced today that Pinnacle International Corporation, the
managing partner of its joint venture which owns and operates a
plastic injection molding factory in Xin Hue, China, received initial
purchase orders for the factory valued at nearly $50,000,000 for the
first year of operation.
These orders are from Southeastern Food Supplies, Indonesian
W.L.S. International, Heritage Forest Products and National Boston
Medical, Inc. Southeastern Food Supplies is a company that caters
exclusively to the Chinese restaurant community all over the State of
Florida with affiliated warehouses in Tampa, Orlando, Del Ray Beach
and Miami. Southern Food is new to the American market and is
expanding it's operations from Florida into the State of Georgia. They
have requested, subject to price verification, an initial order of
four shipping containers monthly of various sizes of plastic food
containers with matching lids. Indonesian W.L.S. International, a
company with close ties to the Indonesian government, has submitted a
purchase order for 1,200,000 pens every 3 months at $0.75 apiece.
Heritage Forest Products, an affiliate of Baillie Lumber Company of
New York, one of the biggest lumber companies in the United States,
has also submitted a purchase order for plastic protective edges to be
used for shipping its lumber. National Boston Medical, Inc., a
developer and manufacturer of a unique product called "Virushield"
which is certified by the FDA. This product, designed to stop
cross-contamination, has received substantial interest in the medical
and food processing industries. National Medical has signed an
agreement with Pinnacle International which grants Pinnacle the
exclusive right to manufacture all four sizes of their dispensers.
The Company believes that these initial purchase orders, valued
at over $50 million will generate a projected $12.5 million to the
bottom line of the joint venture. The Company projects its earnings
from the plastics venture to be approximately $6.9 million. This
equates to projected earnings of $2.05 per share on a non-diluted
basis and $.82 per share on a fully diluted basis. (Presently, there
are approximately 3.35 million common shares outstanding and
approximately 8.35 million shares outstanding including the
preferred).
Additional information, including previous press releases, on
Beacon Light can be found on the Internet at www.wallstreetdaily.com
--30--rc/ny*
CONTACT: Beacon Light Holding Corporation
Jerry Gruenbaum, 860/647-4855
Fax: 860/647-4820
KEYWORD: NEW JERSEY
INDUSTRY KEYWORD: BANKING
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