PalWeb Corporation Secures Additional $100,000 Line of Credit
DALLAS, Aug. 7 /PRNewswire/ -- PalWeb Corporation (Pink Sheets: PAEB) announced that it has secured a $100,000 line of credit to be used for material purchases to fund ongoing raw material production requirements for Plastic Pallet Production, Inc.
"We're very pleased with the progress we've made in the fourth quarter," said Paul Kruger, PalWeb Chairman. "The new line of credit should help us ensure that we have the necessary funding available to continue production and meet the goals outlined in our business plan."
The Company also announced that it is currently involved in discussions with several regional sales and marketing organizations interested in acting as part of an independent sales force for Plastic Pallet Production, Inc.
PalWeb Corporation develops, manufactures and sells high quality plastic pallets that provide innovative logistics solutions needed by a wide range of industries such as automotive, chemical, and consumer products; grocery, produce and food production; paper and forest products; as well as retailing and steel and metals industries. PalWeb's patented plastic pallet design has passed ASTM (American Society for Testing and Materials) standard industry testing (Standard D1185-98a and D 4728-91) for strength and durability. The company's plastic pallets are 100% recyclable making them a viable alternative to wood pallets with demand for the product driven by growing environmental concerns and new government regulations. For more information about PalWeb visit www.palweb.net.
This press release includes certain statements that may be deemed "forward-looking statements" within the meaning of the Federal securities laws. All statements, other than statements of historical facts that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, including the potential sales of pallets or other possible business developments, are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, including the ability of the Company to continue as a going concern. Actual results may vary materially from the forward-looking statements. PalWeb Corporation is a development stage company, which expects to engage in the manufacture and sale of plastic pallets and plastic injection molding machines and systems.
SOURCE PalWeb Corporation
/CONTACT: Arlin Plender, Investor Relations of PalWeb Corporation,
214-698-8330/
/Web site: palweb.net / |
