Plasticon International, Inc. Signs Letter of Intent to Acquire AV-CB Developments
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LEXINGTON, KY--March 12, 2007 -- Plasticon International, Inc. (OTCPK:PLNI - News) is pleased to announce that the Company has signed a Letter of Intent to acquire AV-CB Developments. AV-CB Developments is a joint-venture between Avest Limited Partnership and Christian Brothers Construction. AV-CB Developments, located near Boise, Idaho, is primarily a construction company that builds residential and commercial developments in the Idaho area. Based on the due diligence completed by Plasticon to date, we believe that AV-CB Developments has several projects whose future prospects may hold multi-million dollar values.
"Plasticon International, Inc. has the intention of acquiring 100% of AV-CB Developments, which will add more than $80,000,000 in sales to the Company. One of the most unique factors about AV-CB Developments is that they lock in their pricing and sell out their projects prior to construction commencing. AV-CB Developments is a green company that makes every effort to comply with all environmental issues as well as to use green products as much as possible in their projects," stated Jim Turek, CEO and President of Plasticon International, Inc.
Plasticon International, Inc. recently announced that they have increased its revenues by $3,431,647 for the six months ending June 30, 2006 to $3,566,891 from $135,244 recorded for the six months period ending June 30, 2005. This is over 2537% increase in revenues. Plasticon International, Inc. has posted their second quarter 2006 unaudited financial statements on www.pinksheets.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
or Call
Investor Relations
1-866-THE-APPL(E)
