PLNI Plasticon International, Inc.'s Wholly Owned Subsidiary, Pro Mold, Inc., Implements Cost Reduction Program
Tuesday December 5, 9:24 am ET
LEXINGTON, KY--(MARKET WIRE)--Dec 5, 2006 -- Plasticon International, Inc. (Other OTC:PLNI.PK - News) announced today that the Company's wholly owned subsidiary, Pro Mold has implemented a cost reduction program set in place by the management team at Pro Mold. The cost reduction plan may result in anticipated annual savings of approximately $500,000 a year under current projections.
The Company is currently planning to focus the cost reduction program on reducing labor and re-aligning production schedules. The management team will also focus on the introduction of lean manufacturing principles and techniques and the implementation of a 5S program. Lean manufacturing can improve material handling, inventory, quality, scheduling, personnel and customer satisfaction.
"This is another step toward enhancing Plasticon International, Inc.'s performance. We plan to continue to maximize efficiency at every opportunity. By implementing this program, we anticipate that quality will improve and production time and costs may be reduced," stated Jim Turek, CEO and President of Plasticon International, Inc.
Plasticon International, Inc. recently announced that the Company's wholly owned subsidiary, Pro Mold has recently leased an additional 15,000 sq. ft. warehouse. The new warehouse is located within a mile of the Company's manufacturing facility in St. Louis, MO. The warehouse contains Pro Mold's inventory that is valued at approximately $360,000. |
