The news are out:
Friday June 2, 12:52 pm Eastern Time
Company Press Release
PDC Innovative Industries, Inc. Presents New Product to Home Depot
CORAL SPRINGS, Fla.--(BUSINESS WIRE)--June 2, 2000--The Board of Directors for PDC Innovative Industries, Inc.
(OTCBB:PDCI - news) this morning released information on agreements still developing, the most important of which relates
to an investment of $1 million into the organization and the presentation of product to Home Depot who have recently shown a major interest in the company's
five construction level types. Home Depot is one of the nation's largest retailers of homeowner and professional construction products.
An agreement has been reached with Millennium Marketing of Boca Raton, Fla. who are already representing the PDCI high quality construction levels to
numerous national market vendors of hardware products. Millennium Marketing principals told PDC Innovative Industries that Home Depot Purchasing had
recently shown considerable interest in the levels as a product for their stores. The company stated it would produce whatever was required to meet the orders
of a Home Depot or other large retailer. Recognizing that demand would be in the marketplace, the company had purchased two new CNC computer driven
machines to increase production levels to three times their previous schedule.
Over the past few months the company (PDCI) had more than doubled its production staffing with concentration on the assembly and packaging of the five
different construction levels that were being built at the plant in Coral Springs.
The issue of the $1 million arose from an offer made by an investment group in New York who were previous lenders to the company and were subsequently
paid back with options to convert into PDCI shares. Company attorneys and consultants are currently reviewing the new offer and have indicated they would
like to see an appreciation in the shares value of PDCI before the investment is accepted, and added that shareholders will have a say in the arrangement. The
consensus of early judgment from advisors is that the receipt of the money is a virtual guarantee of better operations and production to the company and
shareholders, also permitting completion and a production schedule for the Sterile-Box 2000 which the company has in prototype development, nearing its
completion. The box disposes of syringes and other medical contaminants after sterilization and crushing syringe and needle to the size of an American quarter
piece.
The company has increased machine production and assembly manpower to an all time high on the plant floor with the purchase of the two new computer
operated CNC Multi-Processor Milling machines at a cost of $150,000, to handle higher production needs expected as the result of latest business relationships
brought to PDCI by Millennium Marketing of Boca Raton, Fla. level.
Sales from in-house during the last few months have also refocused the company's interest in the smaller retail market. The continuing comment from retailers
about the unique quality of the levels has been backed up by sales to smaller stores in Florida. This marked the first attempt to sell to small and mid-sized
retailers. It was the apparent success of this project further which allowed the company to engage a major associate to handle marketing and distribution across
the country and spawned the agreement with Millennium Marketing of Boca Raton, Fla.
The principals of Millennium, Joseph Colangelo, a very successful South Florida entrepreneur and Dave Rossi, another well known South Florida businessman,
are already representing the company's high quality construction to their relationships across the country. PDCI had been gearing up with the expectancy that
major representation would strongly develop a demand for product. Millennium will handle the levels now, and later this year, the expected Sterile-Box 2000
product for sale within the United States. Company advisors have been handling the interest in Sterile-Box 2000 outside the United States.
Contact:
PDC Innovative Industries, Inc., Coral Springs
Harold Harris, 954/341-0092 |
