MARKATECH INDUSTRIES CORPORATION
(the "Company")
1265 West 7th Avenue
Vancouver, B.C. V6H 1B7
Tel: (604) 732-0302 Fax: (604) 732-0377
NEWS RELEASE
Markatech Industries Corporation
VSE TRADING SYMBOL: MKD
November 17, 1998
The Board of Directors of Markatech Industries Corporation (the "Company") is pleased to confirm particular details with respect to its proposed acquisition of Markatech Compact Disc Inc. ("MCDI") - which is engaged in the business of manufacturing and replicating pre-recorded formats including CD-Audio, CD ROM and CD DVD - and the progress of MCDI in developing the business opportunity.
On November 16, 1998, MCDI confirmed that all subjects have been removed in the premises lease agreement for its new CD manufacturing facility to be located at 1610 Powell Street in Vancouver, B.C. The site will provide the facilities for the corporate offices of MCDI and Markatech Industries Corporation.
MCDI reports that the site will comprise of 1800 square feet of office space and approximately 4700 square feet of manufacturing and storage space. The CD manufacturing plant area has 17 feet ceilings and two full size loading doors for shipping and receiving. MCDI has received approval and permits for B.C. Hydro to upgrade the power to 600 volts within next two weeks.
The facility will use the required CD replication, five-colour screen printing and the high speed packaging equipment capable of producing 20,000 discs per day which, if all sold, currently
represents a gross annual wholesale volume in excess of $5,000,000. The planned upgrade of the power capabilities and the space available at the site will accommodate manufacturing equipment
growth which will allow a potential CD production increase of 400%. MCDI is currently scheduled to take possession of the premises on November 18, 1998.
ON BEHALF OF THE BOARD OF DIRECTORS
R. Douglas McLean
Director
The Vancouver Stock Exchange has neither approved nor disapproved the information contained herein. |
