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(PR NEWSWIRE) DJ: Joint Venture Closing Announced
DJ: Joint Venture Closing Announced
XIN HUI, China--(BUSINESS WIRE)--May 20, 1998--The Chairman of Beacon Light
Holding Corporation (NASDAQ OTC BB "BLHG") Jerry Gruenbaum, announced today
that the financing is in place for the Company to move forward with the
closing of its Joint Venture with Xin Hui Orient Light Company, a company
owned by the Chinese Government . The closing of the Joint Venture with this
Chinese Government owned company has been scheduled for Friday, the 22nd of
May, 1998.
This previously announced Joint Venture between Beacon Light, (BLHG), (the
managing partner of the Joint Venture), Pinnacle International Corporation
and Xin Hui Orient Light Corporation will allow the Company to operate a
plastic injection molding factory in the Guang Dong province of the Peoples
Republic of China. The factory is currently operational and is producing
plastic products. The joint venture partner managing the business of the
factory, Pinnacle, has secured potential clients for the factory including
those in the Food Supply industry, Governmental parties of various
countries, the Forest Products industry and the Medical industry. With this
closing, Beacon hopes to fulfill the purchase orders which were discussed in
prior press releases.
Mr. Gruenbaum and the representatives of Pinnacle are expected to stay in
China to attend the closing with various governmental officials, including
the Governor of the province.
Additional information, including previous press releases, on Beacon Light
can be found on the Internet at www.wallstreetdaily.com
CONTACT: Jerry Gruenbaum, President
Beacon Light Holding Corporation
860/647-4855
Fax: 860/647-4820
13:29 EDT MAY 20, 1998
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