LEXINGTON, Ky., Sept. 27, 2005 (PRIMEZONE) -- Plasticon International Inc. (Pink Sheets:PLNI) today announced that due diligence has been completed, SEMCO's audit is finalized and reviewed, and Plasticon is now in the final product review stage of the privately financed acquisition of SEMCO, Inc.
"Our attorneys have gone to hard copies on the acquisition documents, and we are optimistic that we will come to an agreement in the very near future," said Jim Turek, president and CEO of Plasticon International. "SEMCO's surfacing products combine beauty, durability, and scientific innovation in a way that we have never seen before in surfacing technology. The rich, vibrant colors of their surfacing products, combined with their unmatched durability and waterproofing properties makes this acquisition extremely attractive for Plasticon."
SEMCO, based in Las Vegas, Nevada since 1981, has provided their products to many of the city's most impressive showcase projects, including the world famous fountains at the Bellagio, Las Vegas's premier hotel-casino, the MGM Grand, and The Venetian Hotel Casino. Their eclectic customer base also includes high profile commercial, public, and private clientele, ranging from critical government facilities (the flooring of the Pentagon) to elementary schools, community centers, and many prominent parks and public works projects to the biosphere project, where the SEMCO team provided the materials for the creation of a lush, fully functioning, indoor rain forest. SEMCO's product line is noted for its incredible durability which is why it is used on heavily trafficed walkways, in extreme outdoor weather conditions, in chlorinated pool water, and for rugged exteriors.
Mr. Turek noted that another major advantage of SEMCO's products is that they are environmentally friendly, which fits in with Plasticon's core values and corporate mission. "SEMCO's installation process allows the customer to apply the new X-Bond surface over any existing surface, without the hassle, cost, and potential health risks of having to remove the original. This helps eliminate potential harmful wastes, while saving time and money. Their environmentally responsible products and procedures ensure that the installation will be accomplished in the minimum amount of time possible. Because of the products' low VOC emissions, isolation of areas is minimized. The innovative X-Bond product eliminates the need for multiple products and time-consuming steps, all of which increase installation time with material handling times and set-times. We intend to move forward with the acquisition as soon as the product review stage has concluded."
Mr. Turek added, "It is also very important to us that SEMCO's products are approved by the AIA (American Institute of Architects). Their products represent the most advanced surfacing technology on the market today and there are incredible synergies with Plasticon's product lines. As soon as the product review phase is completed, we look forward to welcoming SEMCO to the Plasticon family."
SEMCO distributes its products internationally and has offices in Japan, China, Singapore, and Australia.
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.
Plasticon International, Inc. Jim Turek, President and CEO 3166 Custer Drive, Suite 101 Lexington, Kentucky 40517 web site: www.plasticonintl.com
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