ANOTHER NEWS RELEASE FROM BLHG AFTER THE BELL!
Beacon Light Holding Corporation announces Letter of Intent
Business Wire - June 03, 1998 16:31
%BEACON-LIGHT-HOLDING BLHG
JERSEY CITY, N.J.--(BUSINESS WIRE)--June3,1998
Holding Corporation (NASDAQ OTC BB "BLHG") Chairman Jerry Gruenbaum announced that the company has entered into a Letter of Intent to purchase 51% of Shantou S.E.Z. Crescendos Electronic Co., Ltd. The acquisition is subject to an audit of Shantou by Beacon Light's independent auditors, to verify the accuracy of Shantou's 22 million in sales, as well as their assets.
Shantou currently is a manufacturer and exporter of computer monitors doing business in the U.S., France, Hong Kong and other countries. Mr.Gruenbaum was quoted as saying the synergy between Beacon Light's most recent acquisition, the Beacon Light/XINHUI plastic factory, and Shantou will allow for autonomy in the manufacture of the computer monitors because Shantou will no longer need to subcontract out for the plastic components. The plastic components will be produced by Beacon Light/XINHUI Plastics.
Currently Beacon Light is working with its partner Pinnacle International Corp., to fulfill Pinnacle's purchase orders for the Beacon Light/XINHUI plastics factory located in XINHUI, China.
JAY |
