Plasticon Announces Major Contract With R&S Manufacturing, One of the Largest Manufacturers and Suppliers of Concrete Post-Tension Construction Cable in the U.S.
Contract with R&S Manufacturing Mirrors Industry Shift From Metal Rebar Support to Plastic Rebar Support
LEXINGTON, Ky., June 1, 2005 (PRIMEZONE) -- Plasticon International Inc. (Pink Sheets:PLNI) today announced that the company has signed a major contract to supply R&S Manufacturing with nearly a half million dollars of recycled plastic rebar supports. Plasticon's patented rebar supports will be supplied to R&S's customers with their post-tension cable products.
"We are thrilled about this contract with R&S," said Mr. Jim Turek, President and CEO of Plasticon International. "But more importantly, we are very excited about establishing and growing the relationship with R&S Manufacturing. We believe that this deal, combined with our existing contract with the largest distributor of building materials in the U.S., will give Plasticon the ability to dominate our sector. Not only do we have an edge with product development and technology, we also have a definitive edge in terms of our distribution relationships and our partnerships with companies such as R&S."
R&S Manufacturing, which has been in business for over 20 years, is one of the leading post tension cabling suppliers in the United States. Post tensioning, which is used in slab construction, is a method of strengthening and reinforcing concrete using steel cables. "R&S's products and Plasticon's products will work together seamlessly, and will provide construction companies with the best in breed solution for strengthening concrete," Mr. Turek said.
Additionally, R&S Manufacturing has indicated an interest in supplying their clients with Semco, Inc.'s line of surfacing products, which reinforce and completely waterproof concrete. Plasticon recently signed a letter of intent to acquire Semco in a privately financed cash transaction. "Of course we are very encouraged to see that our new clients and partners are so interested in Semco's surfacing products. We are seeing the potential importance of that acquisition on the street level every day," said Mr. Turek.
Mr. Turek also noted that as an industry trend, it's significant to see companies like R&S Manufacturing moving towards recycled plastic rebar supports. "Of course, R&S manufactures and supplies steel cable. But it's notable that for rebar supports they are now shifting to recycled plastic supports which provide construction companies with a more durable, dependable, cost-effective solution. R&S Manufacturing, as one of the oldest, most trusted names in post tensioning cable sector, will have a major impact in our industry in terms of the acceptance of recycled plastic rebar supports as the industry standard."
About Plasticon International, Inc.
Plasticon International (www.plasticonintl.com) designs, produces, and distributes high-quality concrete accessories, transportation signage, plastic lumber, and office supplies which are all produced from recycled and recyclable plastics. Plasticon is a leader, an innovator of cutting edge design, engineering, and production of industrial and commercial products. Plasticon is a green Company, environmentally-friendly, using recycled plastics to produce its line of products.
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934, and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, management and maintaining growth, the effect of adverse publicity; litigation, compensation, and other factors which may be identified from time to time in the Company's public announcements.
CONTACT:
Plasticon International, Inc.
Jim Turek, President and CEO
3166 Custer Drive, Suite 101
Lexington, Kentucky 40517
www.plasticonintl.com
Bill Howe, Investor Relations
(800) 889-0915 |
