CRNC numero dos news for today:
Chronicle Communications Inc., Places New Printing
Press Order for January Delivery
TAMPA, Fla.--(BUSINESS WIRE)--Jan. 5, 2000--Chronicle Communications Inc., (OTCBB:CRNC - news),
(http://www.chronicleinc.com) announced Wednesday, it has ordered a brand new 6-unit Raghbeer Web-Offset printing press.
Chronicle purchased the press from Intercontinental Engineering Co., Inc., of Taylor, MI. The new press, which is a Raghbeer
FAST-300 is being prepared for shipment and delivery to Chronicle's new facility in Tampa by the third week of January.
Chronicle expects the press to be fully operational by February 15, 2000.
''This press, coupled with an aggressive marketing program to be implemented, is capable of producing revenues approaching
three million annually. Chronicle believes it can optimize revenue on the new press by operating two shifts, six days per week.
We are pleased that the press has finally been ordered. We are excited that Raghbeer has agreed to finance the equipment
under very favorable terms for Chronicle,'' said Chronicle CEO, John V. Whitman Jr.
''All of us at Intercontinental Engineering are proud to be joining forces with Chronicle Communications Inc., to install our
FAST-300 press in the prestigious new Sable Park facilities. Not only will this installation represent our most impressive
installation in North America, but the modern, scenic and truly first-class building environment will offer a reference site for our
printing press which is second to none. We are most excited to see the completion of this, our first installation in the new
millennium become a reality,'' said Michael Schwartz, CEO Intercontinental Engineering.
Special Note: Management believes certain statements in this press release may constitute ''forward-looking statements'' within
the meaning of the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of management's
views and assumptions regarding future events and business performance as of the time the statements are made. Actual results
may differ from those expressed or implied. Such differences may result from actions taken by the company prior to its current
fiscal year end, as well as from developments beyond the company's control, including changes in global economic conditions
that may, among other things, affect the performance of the company's anticipated acquisitions or future business. In addition,
changes in domestic competitive and economic conditions may also affect performance of all significant company businesses.
Contact:
Chronicle Communications Inc., Tampa
David Salmon, 813/248-0100 |
