Joe you may want to look at our old friend BLHG. Significant news late in the day. It ran hard the last time they had a similar PR that was not as big as this one IMO.
Gary
Wednesday May 26, 3:24 pm Eastern Time
Company Press Release
Beacon Light Announces Completed Acquisition
BLHG Combines Global Marketing with Asian Manufacturing
JERSEY CITY, N.J.--(BUSINESS WIRE)--May 26, 1999--Jerry Gruenbaum, President of Beacon Light Holding Corporation (OTC-BB: BLHG - news) announced today that the Company has completed the acquisition of Wellux Industries Limited, Hong Kong, (Wellux), a firm that designs, manufactures and markets high-end specialty plastic products for the following consumer product sectors: Housewares, Kitchenware, the Adult Leisure market and the Do-It-Yourself market.
Gruenbaum was pleased to add, ''This acquisition was consummated without incurring any debt. BLHG was able to negotiate this purchase on the value of its common stock. With its acquisition of Wellux, BLHG now owns and operates a manufacturing, distribution and marketing company that will have minimum gross revenues for this fiscal year of more than five million dollars (USD) with management projections estimating gross revenues at ten million dollars (USD). BLHG has added Wellux to its corporate portfolio for four million shares of restricted common stock.''
The global market for these types of products is sizable. Wellux focuses its marketing efforts on Europe, North America and Japan serving a client base of wholesalers and distributors to the retail sector, direct sales organizations, large retail chains and Internet sales organizations.
In Europe, Wellux products are sold and distributed by Wellux Netherlands B.V., a wholly-owned subsidiary of Wellux, consisting of a warehouse and physical distribution center, a showroom and offices located in Den Bosch, which is in the southern portion of the Netherlands. From this geographically well positioned center, the marketing, sales and distribution activities for the European market is conducted. In the Benelux countries and Germany, Wellux B.V. sells direct to retail, by means of their own sales force. In the other European countries, marketing agents are appointed, coordinated and supplied by Wellux B.V. Wellux plans a similar distribution center and marketing effort to be implemented in the US market within this fiscal year.
STRATEGY
The management of BLHG and Wellux have developed a strategy that primarily focused on increasing market share and profitability in Europe, developing the US market and, to a lesser extent, the slowly growing Asia market. This strategy is based on the development of new attractive retail value enhancing packaging; introduction of new quality products with added features; very competitive pricing; effective customer service through broader availability of individual items through a larger inventory stocking a wide product assortment in centrally located distribution hubs in Europe and USA; and Globally increasing mail order volume.
MANUFACTURING AND DESIGN
Wellux HKG Ltd., has its own in-house graphic and product designers creating new products and packaging thus shortening the Company's response time of meeting market needs, increasing flexibility in updating products and web sites. All of which has the net effect of increasing margins by lowering costs.
Wellux owns and operates a factory for high-end products, making use of rotation and dipping technology which is situated near its office and showroom in Kowloon Bay HKG. This enables Wellux to produce, at a much lower cost, products with features, that up to now have only available from US and European manufacturers. Wellux Ltd, will manufacture more and more of its own products, thereby improving gross margin and its positioning as a competitive supplier. Wellux's main factory is located in the Shen Zhen province of China. This factory conducts Wellux's injection molding and assembly for the core products of the Wellux product line.
The high quality plastic consumers' goods division has developed as one of the planned business units of Beacon Light Holding Corp., allowing BLHG to become a main player in the manufacturing and marketing of a wide range of plastic consumer goods.
Safe Harbor Disclosure
This Press Release contains or incorporates by reference ''forward-looking statements,'' including certain information with respect to plans and strategies of Beacon Light Holding Corporation. For this purpose, any statements contained herein or incorporated herein by reference that are not statements of historical facts may be deemed to be forward-looking statements. Without limiting the forgoing, the words ''believes,'' ''anticipates,'' ''plans,'' ''expects,'' ''enhanced'' and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause actual events or actual results of Beacon to differ materially from these indicated by such forward-looking statements.
For further information about Beacon Light, please contact Jerry Gruenbaum at 201/876-5077
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Contact:
Beacon Light Holding Corporation, Jersey City
Jerry Gruenbaum, President
E-mail: blhcorp@aol.com
201/876-5077 |
