Joint Venture Closing Announced
( Business Wire )
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( BW)(BEACON-LIGHT)(BLHG) Joint Venture Closing Announced
Business Editors
XIN HUI, China--(BUSINESS WIRE)--May 20, 1998--The Chairman of
Beacon Light Holding Corporation (NASDAQ OTC BB "BLHG") Jerry
Gruenbaum, announced today that the financing is in place for the
Company to move forward with the closing of its Joint Venture with Xin
Hui Orient Light Company, a company owned by the Chinese Government .
The closing of the Joint Venture with this Chinese Government owned
company has been scheduled for Friday, the 22nd of May, 1998.
This previously announced Joint Venture between Beacon Light,
(BLHG), (the managing partner of the Joint Venture), Pinnacle
International Corporation and Xin Hui Orient Light Corporation will
allow the Company to operate a plastic injection molding factory in
the Guang Dong province of the Peoples Republic of China. The factory
is currently operational and is producing plastic products. The joint
venture partner managing the business of the factory, Pinnacle, has
secured potential clients for the factory including those in the Food
Supply industry, Governmental parties of various countries, the Forest
Products industry and the Medical industry. With this closing, Beacon
hopes to fulfill the purchase orders which were discussed in prior
press releases.
Mr. Gruenbaum and the representatives of Pinnacle are expected to
stay in China to attend the closing with various governmental
officials, including the Governor of the province.
Additional information, including previous press releases, on
Beacon Light can be found on the Internet at www.wallstreetdaily.com
--30--bk/ny*
CONTACT: Jerry Gruenbaum, President
Beacon Light Holding Corporation
860/647-4855
Fax: 860/647-4820
KEYWORD: NEW YORK
INDUSTRY KEYWORD: BANKING
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