Peacock Financial Corp. Acquires 30 Percent Stake in Valley Lumber &
Ironwood
BusinessWire, Tuesday, February 02, 1999 at 10:20
SAN JACINTO, Calif.--(BUSINESS WIRE)--Feb. 2, 1999--Peacock
Financial Corp. (OTC BB:PFCK) Tuesday announced that it has acquired
an initial 30 percent interest in Valley Lumber and Ironwood Co.
Valley Lumber is based in Las Vegas and imports treated and
untreated lumber product using U.S. Department of Agriculture permits
owned by Valley Lumber. An example of product that Valley Lumber will
begin importing and that is in very high demand is replacement
railroad ties for the nation's railroads.
At a later date, Peacock intends to exercise its option to
acquire an additional 15 percent of Valley Lumber, bringing its stake
to 45 percent.
Ray Allen, president of Valley Lumber, commented: "By working
with Mr. Peacock, we have been successful in obtaining financing our
initial purchase orders from railroads and a lumber products
wholesaler, and our first shipment of untreated lumber is expected to
be shipped this month. Substantial future orders are standing by for
this first shipment to arrive."
Steven R. Peacock, president of Peacock Financial, stated: "Some
of the unique aspects of this operation are the 100 percent financing
available for credit-worthy purchase orders and the availability of
Compliance Guarantee Insurance, which insures that the product being
shipped meets the specifications of the purchase orders. We expect to
be making some exciting additional announcements regarding this
investment quite soon." |
