LEXINGTON, Ky., May 24, 2005 (PRIMEZONE) -- Plasticon International, Inc. (Pink Sheets:PLNI) today announced that it has entered negotiations to acquire Semco, Inc., a Nevada-based company that is a pioneer in resurfacing technology.
"We are very excited about this potential acquisition," said Jim Turek, president and CEO of Plasticon International. "If you looked up synergy in the dictionary, this deal should be cited as the example. There are many parallels between Plasticon and Semco. Semco's products are the most technologically advanced surfacing products in the industry. Plasticon has the most technologically advanced recycled plastic products in the construction industry. Their products have been used on government buildings, many hotels in Las Vegas, and other large commercial projects and in residential settings as well. Plasticon's products are used to support many of the most important facilities in North America and around the world. It would be the perfect synergy."
Mr. Turek said that when this deal is signed, he expects Semco's product line to become a major profit center for Plasticon. "This deal would not only be important to Plasticon in terms of the synergy of our products," Mr. Turek said. "It would also have a major impact on our bottom line."
Mr. Turek also cited the fact that Semco, Inc. is environmentally friendly as a major plus for the potential acquisition. "Any acquisition we make has to fit in with our corporate mission and our manufacturing process and principles. As a leader in environmentally friendly manufacturing, it's important for us to maintain that status as we continue to grow the company. Like Plasticon, Semco, Inc. is a proven leader in their sector and has maintained an environmentally friendly manufacturing process."
Semco, Inc.'s water-based resurfacing products, which cross link chemically to the material they are being bonded to, are used on similar applications as Plasticon's products, such as bridges and other critical infrastructure projects. "Plasticon's rebar support products are used as a more durable, dependable, cost-effective alternative to steel in the reinforcing of concrete," Mr. Turek said. "They are used not just on buildings, but on other critical infrastructure such as bridges and roads. Semco's products reinforce the density of the surface they are being bonded to, which in this example would lead to maximum concrete durability. There would be many immediate applications where our products would work perfectly together, and as we expand our product base, there would be many applications down the road as well."
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.
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