A post By: downdraft33319 on RB
11 Oct 2005, 12:58 PM EDT
Msg. 15641 of 15641
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PLNI, I feel it is looking good...!
Hi All,
I have just returned from the meeting with PLNI President, Mr. Turek. First, As I have stated before, my intentions were to come here and get some nuts and bolts answers about the business, which I have done. Second, I am interested in distributing some of their products myself.I thought I would put a few things here just to help you guys out since I was here anyway.
Here are some of the highlights:
1. A 500 ton Toyo injection molding machine was delivered last Monday to Pro
Mold to add to the other 9 mold machines 75, ton 450 ton and others. “Fact” I saw the picture of the machine on the semi truck.
2. I asked about the Semco and Pro Mold, Inc. acquisitions and Mr. Turek stated they were in the final stages; we will have to wait for more official work.
3. The DOT Road sign business was something that Mr. Turek worked very hard on for many years getting approved by all 50 States. Any PLNI is going to venture more in that direction hopefully, next year. But, the timing was the only question first quarter, mid, but hopefully next year he said.
4. Mr. Turek mentioned #m has had the market tied up for years but now new technology has made plastic to reflective on it’s own without 3m reflective material. This opens up the sign business.
5. BlueLinx distribution in 63 warehouses. PLNI can supply 300 K per month inventory capacity and Bluelinx anticipated re-orders once established in outlets of 4 to 6 times per year. This is an ongoing process getting rebar supports in outlets nationwide.
6. The rebar support is the heart of PLNI and to provide a good base, cash flow said Mr. Turek. The rebar supports are approved in the CRSI Manual of practice standards Chap. 3-11 to be used as an alternative to Steel.
7. Plastic lumber is another area being explored by PLNI
8. Semco once the acquisition is complete will be another profit center than will be important to PLNI. The process is profitable and will be setting of installation and training courses at Semco.
9. Mr. Turek was very careful and when I asked a question, across the line, he was quick to say, I can’t answer that, meaning it would have to come through official channels. I respected that and moved on to other questions.
10. An important thing he said was it is a Green company, and he wants to keep it that way, PLNI is for long term investors and he feels the future is bright. He is not selling personal shares and also restricted by law.
11. Pro Mold and Semco will be holly owned considerarys of PLNI. They were financed privately by Mr. Turek
12. Mr. Turek could not go into the audit timing, I personally felt he didn’t know and was at the mercy of the auditors. He did say, the numbers will support the OTC but the audit takes more time than anticipated. The reason is beside recent financial they have to go back to 1994 and find records.
13. The Spain team is back and it looks good but he didn’t mention anything.
I asked for what about this in 2 years, the price of stock etc. and Mr. Turek would not speculate but did show a real excitement about the future of PLNI.
I feel the company is real and the people are sincere, especially Mr. Turek (nice guy) who took 2 1/2 hours out of his day to speak with me. I think the company is in it's early start of growth phase and hold on for the long term.
I hope this information helps....
