BLHG--News
BLHG--News
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Posted by STOK2 on June 15, 1998 at 07:34:05:
PRESS RELEASE
Beacon Light Holding Corporation
2 Stamford Landing, Suite 100
Stamford, Connecticut 06902 -7649
FOR MORE INFORMATION CONTACT:
Jerry Gruenbaum, President
Beacon Light Holding Corporation
203.921.0310 Fax: 203.921.0361
FOR IMMEDIATE RELEASE
Beacon Light Holding Corporation Announces Initial Purchase Order
Stamford, Connecticut, June 15, 1998 - Beacon Light Holding Corporation (OTC:
BB BLHG) jointly, along with Pinnacle International, it's minority partner, in
the Beacon Light/XIN HUI Plastics factory, announced today, that it has
received an initial purchase order for plastic take- out food containers from
Southeastern Foods. Southeastern Foods is a restaurant supply wholesaler
operating in Florida and southern Georgia. The initial order will be for two
shipping containers per month with a dollar value of $25,000 per shipping
container, or $600,000 annually.
Pinnacle International, Beacon Lights minority partner, announced through its
chairman, Winchell Woo that this order represents a very small percentage of
this market, nationally. Mr. Woo expects to be able to obtain additional
orders from distributors similar to Southeastern Foods throughout the U.S.,
and is currently negotiating with several distributors for additional orders.
Production will be increased to accommodate the very large market for take-out
food containers.
Further, Beacon Light announced that Chairman Jerry Gruenbaum has scheduled a
trip to China to finalize the agreement for Beacon's second acquisition, 51%
of Shantou S.E.Z. Crescendos Electronic Co., Ltd. a manufacturer of computer
monitors in Shantou, China. Currently, Shantou S.E.Z. has $22,000,000 in sales
annually. Representatives of the Company's Investment Banker, Lloyd Wade
Securities of Dallas, Texas, will accompany Mr. Gruenbaum to China.
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