Plasticon International, Inc. Increases Profits By More Than 77% While Reducing Operating Expenses
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LEXINGTON, KY--March 20, 2007 -- Plasticon International, Inc. (OTCPK:PLNI - News) is pleased to announce that the Company has filed their financials and has realized a gross profit of $392,886 for the third quarter 2006, which is a 77% increase over the second quarter 2006 gross profit of $221,065. Plasticon International, through the cutback of operating expenses, reduced the Company's net loss by more than 70%.
Plasticon International, Inc. recently announced that the Company intends to make an application for listing of its common stock on the American Stock Exchange. Upon the successful acquisition of AV-CB Developments, Plasticon believes that its balance sheet will satisfy the capital requirements that will allow the Company to submit an application for listing of its common stock on the American Stock Exchange. If current plans continue to hold and subject to further negotiations, the Company anticipates that the acquisition of AV-CB may be completed within the next 30 to 60 days.
"This financial statement represents the dedication of our team to the continued improvement of our company, as well as reflects our veracity and ability to follow through. We have set a goal for ourselves and we are working diligently to accomplish our ambition of obtaining a listing on the American Exchange," stated Jim Turek, CEO and President of Plasticon International, Inc.
The Company also announced that their wholly owned subsidiary, SEMCO Manufacturing, Inc., has completed surfacing the concrete embankment on the I-515 Beltway Interchange for the Nevada Department of Transportation. The $241,000 contract called for the application of SEMCO's proprietary concrete sealants and anti-graffiti coating. Pictures of the completed project can be viewed at www.plasticonintl.com.
About Plasticon International, Inc.:
Plasticon International (www.plasticonintl.com) designs, produces, and distributes high-quality concrete accessories, informational & directional signage and plastic lumber, 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.
For more information, please visit:
http://www.plasticonintl.com
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Investor Relations
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