LEXINGTON, Ky., June 17, 2005 (PRIMEZONE) -- Plasticon International Inc. (Pink Sheets:PLNI) today announced that a review of the financials for the first and second quarter of 2005 demonstrate that Plasticon has achieved profitability as of the end of the second quarter of 2005.
"Our momentum has been incredible over the last few months," said Jim Turek, President and CEO of Plasticon International, Inc. "As the technology leader of the recycled plastics sector, we developed several major innovations which led to substantial cost savings and leaps in productivity. We announced our exclusive contract with the largest building materials distribution company in the U.S., which makes us the largest supplier of rebar supports in the country. We also built some very important partnerships, which will allow us to continue to aggressively grow the company. All of these developments contributed to our profitability. So we are thrilled to announce that Plasticon International is profitable as of the second quarter of 2005."
Mr. Turek said that the company's top priority right now is to have the company audit completed by the end of July. "I am confident that we can meet this deadline. This is a very important step for us. Once the audit is completed we will immediately file the necessary documents with the SEC, in order to move Plasticon to the OTCBB. We expect this to be accomplished in the next 30 to 90 days. "
Mr. Turek emphasized that there will be many exciting announcements in the coming weeks and months, and noted that investors and shareholders should visit www.plasticonintl.com frequently for updates. "We approach communications with our shareholders and the public very seriously and we feel that it's very important to bring openness and integrity to the process. For news about our company, we urge investors to rely on trusted sites only. It has come to my attention that there is a lot of misinformation being bandied about on the internet regarding PLNI. If you are an existing shareholder or are considering buying stock in Plasticon, please consider very carefully the source of information you use to make your investment decisions. I urge all investors to make their decisions based on sound fundamental information and not on rumor, conjecture, or innuendo. It's unfortunate that there is so much incorrect information on the internet, but again we would caution investors to only rely on trusted sites and other offline sources for investment information."
Strong fundamentals for Plasticon International give Mr. Turek a very optimistic outlook as the company moves forward. "We are certainly in a very promising period of growth right now," Mr. Turek said. "The company is on very solid footing and is positioned for tremendous growth. PLNI offers serious investors strong fundamentals, superior patented products, an unprecedented distribution network in our sector, low overhead and positive earnings. We are grateful for the support of our existing shareholders and welcome those of you who are new owners of the Company," Mr. Turek said.
For more information, please visit Plasticon International online at www.plasticonintl.com.
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.
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934, and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, management and maintaining growth, the effect of adverse publicity; litigation, compensation, and other factors which may be identified from time to time in the Company's public announcements.