FARMINGTON HILLS, Mich., Aug. 5, 2008 (PRIME NEWSWIRE) -- LBO Capital Corp., (Other OTC:LBOA), a Colorado corporation ("LBO Capital"), announced that it signed a non-binding Letter of Intent ("LOI") with Weldmation, Inc., a Michigan corporation ("Weldmation"), to license a Powder Impression Moulding process ("PIM") and to commence a joint venture. The LOI confirms preliminary discussions and tentative agreements regarding a 50/50 Joint Venture ("JV") for manufacture of industrial products and exploitation of certain Intellectual Property ("IP"), including patents for industrial uses to OEMs and Tier 1 suppliers in the automotive sector, marine, defense and other industries.
LBO Capital and Weldmation will conduct due diligence required for preparation of a final binding Definitive Agreement to be concluded within a 30 day period following full execution of the LOI.
Weldmation is a full service provider of welding, general assembly and modular systems for the transportation, marine and defense industries. The company excels in design, build, installation and launch of automation and tooling assembly processes. Weldmation is an ISO 9001 2000 Standard certified company, having previously received other customer certifications and quality awards. www.weldmation.com
CORPORATE PROFILE
LBO Capital Corp., founded in 1988, strives to acquire proven and attractive intellectual property and technologies; and to capitalize on them through licensing arrangements with operating companies which recognize the benefit from access to these carefully selected assets of LBO Capital Corp. www.lboc.us
The statements included in this news release concerning predictions of economic performance and management's plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1934, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Company's Securities and Exchange Commission filings, economic downturns affecting the operations of the Company or any of its business operations, adequate financing to achieve the new strategic plans, the impact of competition, the success of products in the marketplace and the unavailability of financing to complete management's overall plans and objectives. The forward-looking statements contained in this news release speak only as of the date hereof and the Company disclaims any intent or obligation to update these forward-looking statements, except as required by law.