**LTGL** Just want to put this one back on the table...
This company is setting themselves up to be strong and profitable.
This might be a good time to get back in.
Remember do your own DD and invest wisely.
Thursday March 26, 4:06 pm Eastern Time
Company Press Release
Liteglow Industries Inc. Announces Chinese Joint Venture
POMPANO BEACH, Fla.--(BUSINESS WIRE)--March 26, 1998--Spencer Krumholz, president and CEO of Liteglow
Industries Inc. (BB:LTGL) announced Thursday that he will be arriving in China March 30th to consummate a Joint Venture
agreement to open a manufacturing facility.
The new facility will allow Liteglow to expand its capacity for products, to accommodate the influx of new business. While in
China, visits will also be made to several existing factories and suppliers to review 20-30 new automotive and electronic items
to be added to Liteglow's product line.
This new facility will allow Liteglow to manufacture their own line of special driving lights, fog lights, coated bulbs, and other 12
volt mobile electronic products. Liteglow will own one half of the facility, allowing the company to bring new products to the
mass market quicker and at less cost. Liteglow has several contracts that are in progress, and hopes to disclose the names of
these large retail customers within a very short time. Liteglow will also explore the selling of Liteglow products into the Chinese
market.
The joint venture manufacturing facility should take approximately 4 months to become fully operational, and will add additional
profits to Liteglow's bottom line starting in the 3rd quarter of 1998. Liteglow has also announced plans for a larger line of
credit, with more attractive terms, to be established with a major banking firm. Three banks are presently competing for
Liteglow's business. This larger credit line will allow Liteglow to increase its inventories to service several major chain stores,
that should be ''on board'' sometime in the second quarter of 1998.
Liteglow is a manufacturer, designer, and importer of products for the automotive and electronic specialty markets. The U.S.
automotive and electronic aftermarkets should exceed 300 BILLION in combined revenues this year.
Requests for an investor information package should be made by calling Liteglow Industries Inc. at 800-801-GLOW, or by
e-mail at Spencer@liteglow.com. You can also visit Liteglow at www.liteglow.com.
Contact:
Liteglow Industries Inc., Pompano Beach
800-801-GLOW
www.liteglow.com |
