FARMINGTON HILLS, Mich., May 5, 2009 (GLOBE NEWSWIRE) -- LBO Capital Corp. (Other OTC:LBOA), a Colorado corporation (LBO Capital), announced completing acquisition of 100% of the common shares of subsidiaries Global Tech International, Inc. (Global Tech) and Advanced Digital Components, Inc. (Advanced Digital), Delaware corporations, by an exchange of stock with shareholders.
Longborough Capital plc (Longborough), a publicly listed company in the UK, parent company and majority shareholder of LBO Capital, in 2008 proposed that LBO Capital acquire the balance of common stock of Global Tech and Advanced Digital. In exchange for their shares, shareholders received a total of 9,716,161 shares of LBO Capital common stock, newly issued on March 30, 2009. The purpose of the exchange was to consolidate 100% ownership of patented technologies for Powder Impression Molding (PIM(tm)) and, thereafter, more actively market PIM(tm) licenses with royalty streams.
LBO Capital received a purchase order for $11,000,000 in January 2009. In three phases, subsidiary Global Tech will spearhead manufacture, delivery and installation of three PIM(tm) assembly lines in the State of Georgia Southwest Industrial Zone in Coffee County-Douglas for Green Tech Manufacturing, LLC, a Georgia entity. "PIM(tm)" "fast line" open mold equipment and tooling will convert mixed plastic wastes to encapsulated, recycled plastic products such as roofing tiles and shingles, siding, building panels and sewer pipes. U.S. Quest, LLC by agreement holds distribution rights to Green Tech's output of commercial building materials in the NAFTA region. Project financing and location were obtained with guidance from SEEC Advisory Group, Inc.
CORPORATE PROFILE
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 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.
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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.