I found the article that Michelex was using the Cornell Financing for, but put it on hold after getting shafted by Cornell.
Michelex to Make Major Expansion in Production by Acquiring Equipment from Nepco, SA
Business Wire, Oct 22, 2004
MASSENA, N.Y. -- Michelex Corporation (OTCBB:MHXC) is pleased to announce that it has finalized agreements to acquire equipment from Nepco, SA, a major plastics products fabricator located in the Lisieux Region of France.
Michelex expects to boost capacity by 5-6 Million units per month. The additional equipment will primarily expand the production of CD packages. The extra fabrication capacity should result in an increase in annual revenues of approximately $9-10 Million.
"I believe this acquisition is a significant milestone for Michelex, which has nearly 35 years of history, and is part of our on-going strategy to grow the company into a dominant plastics manufacturing company. We feel we have the best products available, now we'll be able to better meet the needs of future and existing clients. Because current global demand for our products is so strong, this transaction will help improve the bottom line, due to enhanced margins and added revenues," said Tom Gramuglia, Michelex director and vice president.
About Michelex
Michelex Plastics -- Founded in 1972, is a manufacturer/importer and distributor of C-Zero's, C-Shells, Norelco Boxes, Jewel Boxes and other related specialty plastic products. The company has manufacturing facilities and distribution points in New York and Salt Lake City. The company employs over 100 people who are committed to the customers and to the operations of the business. Michelex offers a full range of products through its divisions to make it a one-stop shop for its customers.
Michele Audio -- Audio duplication services and an exclusive rights holder of a large catalog of music and spoken word recordings.
Michelex Media Products -- Producer, supplier and distributor of paper multimedia packaging products, also offering complete fulfillment services to its customers.
For further information, www.michelex.com
Safe Harbor:
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports.
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