Plasticon's acquisition of Semco will be privately financed cash transaction
LATEST NEWS
May 27, 2005
Plasticon International Inc.'s acquisition of Semco Inc. will be a privately financed cash transaction, according to a news release.
"There will be no dilution of Plasticon's stock as a result of this transaction," Jim Turek, president and CEO of Plasticon International, said in the release. "This acquisition will add tremendous value to Plasticon. Semco's ... surfacing products are unique, and they fill an extremely important and profitable niche."
Plasticon announced earlier this week that it was in negotiations with Semco.
On May 31, Turek will discuss the acquisition and other recent developments at Plasticon in a webcast at www.thegreenbaron.com.
Plasticon International (Pink Sheets: PLNI), based in Lexington, Ky., develops uses for recycled plastics and is the owner of a patented line of recycled plastic rebar supports, among other products.
Semco Inc., which makes water-based resurfacing products, is based in Las Vegas
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