[PLNI]: Plasticon International, Inc. announces that its major distribution agreement with BlueLinx Corp. has been TERMINATED
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In a press release that is shown below, it appears that the much promoted distribution relationship between PLNI and BlueLinx Corp., the largest building products distributor in the United States, has been TERMINATED and settlement arbitration proceedings on this matter are pending.
This announcement by PLNI, together with recent announcements on the increased warehouse space for excess inventory and on the significant cost cutting program are continued signs that big trouble lies ahead for PLNI and its stockholders. More on the warehouse and cost cutting here: http://snipurl.com/14u9g
Would the need for cash due to the lack of business be the reason that PLNI filed with the SEC on November 6, 2006 that it recently completed a $760,000 PIPE financing, possibly diluting PLNI stockholders a further 1 billion common shares? More on the details of the PIPE financing here: http://snipurl.com/14u9j
http://www.marketwire.com/mw/release_html_b1?release_id=193970
Plasticon International, Inc. Negotiating With Multiple National Distributors to Meet Increased Demand for Products
Pro Mold Reports Backlog of Orders in Excess of $960,000 Through January 2007
LEXINGTON, KY -- (MARKET WIRE) -- December 12, 2006 -- Plasticon International, Inc. (PINKSHEETS: PLNI) is pleased to announce that its subsidiary companies, Pro Mold and SEMCO, have reported their largest order backlogs in the history of either company. Pro Mold's current order backlog is in excess of $960,000 through January 2007.
Plasticon International is currently conducting negotiations with several national distributors to support the increased demand for the Company's products. Due to the inability of BlueLinx to meet sales and distribution quotas as agreed upon in their exclusive agreement, Plasticon International has elected to exercise its arbitration rights to seek compensation.
"As we approach the close of 2006, our future has never been brighter. Our companies have achieved record setting order backlogs and we're beginning to receive initial offers from several national distributors. These initial offers are already expected to exceed those that we received from BlueLinx over the entirety of our three-year relationship. We are very excited about a new year and an exciting future for Plasticon and our shareholders," stated Jim Turek, CEO and President of Plasticon International, Inc.
Additionally, Plasticon International is preparing for the annual World of Concrete Expo being held in Las Vegas, Nevada January 23 through January 26, 2006. The Company is planning on displaying its environmentally friendly products in its own booth. Plasticon International will announce more information regarding the show as it becomes available.
About Plasticon International, Inc.
Plasticon International (www.plasticonintl.com) designs, produces, and distributes high-quality concrete accessories, informational & directional signage and plastic lumber, 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.
This press release contains "forward-looking statements." Forward-looking statements are statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, and other factors that may adversely impact us. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements to reflect events, circumstances, or new information after the date of this press release or to reflect the occurrence of unanticipated or other subsequent events.
Contact:
For more information:
Investor Relations
1-866-THE-APPL(E)
http://www.plasticonintl.com
SOURCE: Plasticon International Inc.
___________________________________________________
.
In a press release that is shown below, it appears that the much promoted distribution relationship between PLNI and BlueLinx Corp., the largest building products distributor in the United States, has been TERMINATED and settlement arbitration proceedings on this matter are pending.
This announcement by PLNI, together with recent announcements on the increased warehouse space for excess inventory and on the significant cost cutting program are continued signs that big trouble lies ahead for PLNI and its stockholders. More on the warehouse and cost cutting here: http://snipurl.com/14u9g
Would the need for cash due to the lack of business be the reason that PLNI filed with the SEC on November 6, 2006 that it recently completed a $760,000 PIPE financing, possibly diluting PLNI stockholders a further 1 billion common shares? More on the details of the PIPE financing here: http://snipurl.com/14u9j
http://www.marketwire.com/mw/release_html_b1?release_id=193970
Plasticon International, Inc. Negotiating With Multiple National Distributors to Meet Increased Demand for Products
Pro Mold Reports Backlog of Orders in Excess of $960,000 Through January 2007
LEXINGTON, KY -- (MARKET WIRE) -- December 12, 2006 -- Plasticon International, Inc. (PINKSHEETS: PLNI) is pleased to announce that its subsidiary companies, Pro Mold and SEMCO, have reported their largest order backlogs in the history of either company. Pro Mold's current order backlog is in excess of $960,000 through January 2007.
Plasticon International is currently conducting negotiations with several national distributors to support the increased demand for the Company's products. Due to the inability of BlueLinx to meet sales and distribution quotas as agreed upon in their exclusive agreement, Plasticon International has elected to exercise its arbitration rights to seek compensation.
"As we approach the close of 2006, our future has never been brighter. Our companies have achieved record setting order backlogs and we're beginning to receive initial offers from several national distributors. These initial offers are already expected to exceed those that we received from BlueLinx over the entirety of our three-year relationship. We are very excited about a new year and an exciting future for Plasticon and our shareholders," stated Jim Turek, CEO and President of Plasticon International, Inc.
Additionally, Plasticon International is preparing for the annual World of Concrete Expo being held in Las Vegas, Nevada January 23 through January 26, 2006. The Company is planning on displaying its environmentally friendly products in its own booth. Plasticon International will announce more information regarding the show as it becomes available.
About Plasticon International, Inc.
Plasticon International (www.plasticonintl.com) designs, produces, and distributes high-quality concrete accessories, informational & directional signage and plastic lumber, 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.
This press release contains "forward-looking statements." Forward-looking statements are statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, and other factors that may adversely impact us. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements to reflect events, circumstances, or new information after the date of this press release or to reflect the occurrence of unanticipated or other subsequent events.
Contact:
For more information:
Investor Relations
1-866-THE-APPL(E)
http://www.plasticonintl.com
SOURCE: Plasticon International Inc.
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posted by the_worm06 | 12/13/2006 03:34:00 AM
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