FARMINGTON HILLS, Mich., March 9, 2009 (GLOBE NEWSWIRE) -- LBO Capital Corp. (Other OTC:LBOA), a Colorado corporation ("LBO Capital"), announces receipt of a purchase order dated January 23, 2009 for manufacture, delivery and installation in Douglas-Coffee County, Georgia of Powder Impression Molding ("PIM(tm)") custom made fast line machinery, molds, tooling systems and factory equipment in the total amount of US$11,000,000 from Green Tech Manufacturing, LLC ("Green Tech"), a limited liability company in Georgia. Green Tech is a wholly owned subsidiary of Gulf Coast Arms, a non-profit trust based in Texas. Project financing and location were obtained with guidance from SEEC Advisory Group, Inc. (http://seecadvisors.com).
On March 10th, Green Tech will conduct a grand opening and ribbon-cutting ceremony at the Emerson Building, a 103,000 sq.ft. recycling and materials manufacturing facility in the Southwest Industrial Park of Douglas, to be occupied also by Premiums Waters, American Wire and Blueberry. James Salvagio, Managing Trustee of Gulf Coast Arms, will greet Governor Perdue, state and local elected officials, dignitaries, local business people, media and representatives from LBO Capital.
Green Tech will publicly announce its partnership with the State of Georgia and Douglas-Coffee County to provide over 350 jobs in The Douglas-Coffee County Industrial Authority established to attract cutting edge, clean technology businesses to Georgia. Implementation will be assisted by FacilliTECH, an engineering team from Georgia Tech, this assistance paid for by the State of Georgia on behalf of Green Tech. James Salvagio and Green Tech will be recognized as private sector leaders providing economic opportunity.
An initial partial release of funds will allow custom made PIM(tm) fast line, wall panel, roofing, siding, tooling systems and other equipment to be assembled in southeastern Michigan by engineers experienced with the PIM(tm) process and its commercial applications. Unlike conventional plastics processes which utilize closed molds and the pure polymer stream outflow of current plastic recycling and waste sectors, the PIM(tm) process is capable of quicker conversion of mixed waste plastics into commercially viable products by using open molds and its innovative, patented encapsulation and molding technology. Green Tech and SEEC Advisory Group anticipate that this cost-effective, environmentally responsible process of pre-engineering composite products for onsite assembly will establish a new frontier in building construction.
LBO Capital's CEO, Thomas W. Itin, commented: "Green Tech's purchase order for PIM(tm) fast line and tooling systems further confirms to our shareholders the value and wisdom of acquiring patents and patent pending technology to license to others. We consider licensing rights to the PIM(tm) process, a ready-to-use 'green' technology, to be well timed among worldwide efforts to divert mixed plastic wastes away from dumps and overburdened landfills."
LBO Capital Corp., founded in 1987, and its subsidiaries, Global Tech International, Inc. and Advanced Digital Components, Inc., strive to acquire proven and attractive intellectual property and technology, and to capitalize on them through licensing arrangements with operating companies which recognize benefits from access to carefully selected assets of LBO Capital Corp.
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 involve subjects 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.