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(COMTEX) B: Plasticon Completes SEMCO Acquisition ( Market Wire )
B: Plasticon Completes SEMCO Acquisition ( Market Wire )
LEXINGTON, KY, Jan 19, 2006 (MARKET WIRE via COMTEX) --
Plasticon International, Inc. (OTC: PLNI) announced today that the
company has completed the acquisition of SEMCO Manufacturing, Inc.
"The acquisition of SEMCO Manufacturing is an absolutely critical
part of our growth strategy," said Jim Turek, President and CEO of
Plasticon International, Inc. "We are very excited about the
completion of the acquisition, and we are confident that SEMCO will
become the greatest profit center for Plasticon International in the
years ahead. SEMCO is currently profitable and enjoys a stellar
reputation as a technology leader in the surfacing industry. This is
an established company with an outstanding record as a pioneer in
surfacing and the company has proven itself again and again with many
successful high-profile projects. SEMCO's products are the most
innovative and versatile in the surfacing industry today, and the
market potential is staggering. To give you one example, the world
flooring market is a $95 billion industry (Source: The Freedonia
Group, a leading international business research company). If we can
capture merely 1% of this opportunity, that translates into $950
million in sales."
Mr. Turek continued, "And of course, flooring is just one piece of
the massive surfacing industry that SEMCO serves, which is why we
believe that SEMCO will be such a huge profit center for Plasticon.
SEMCO's best-of-breed products, which cross link chemically to
virtually any material they are being bonded to, reinforces the
density of almost any surface, including concrete, tile, wood, foam,
metal, asphalt, rubber, tile of all types, and can even seal off
toxic gases from asbestos, thereby eliminating the need to remove
asbestos. Their product applications are virtually endless and extend
far beyond flooring to wall surfaces, heavily trafficked outdoor
walkways, parks and public works projects, kitchen and bathroom
surfaces, and roadway projects (such as bridge decks and the
beautification of highway dividers). There are tremendous
opportunities for growth, particularly in transportation. The Senate
recently passed a $285 billion transportation bill. As the only
company in our sector that is DOT (Department of Transportation)
approved in all 50 states, Plasticon is in a unique position to offer
both our recycled plastic product lines and SEMCO's innovative
products for potential DOT projects in the future. We believe that
the fact that SEMCO's products are environmentally responsible and
require no waste disposal, will make SEMCO's products a very
attractive choice for the Department of Transportation in the future.
As a green company, SEMCO Manufacturing not only meets national
requirements -- they exceed requirements."
Mr. Turek also noted that the product synergies with Plasticon's
existing recycled plastic rebar support product line and SEMCO's
surfacing products will allow Plasticon to immediately begin offering
SEMCO's products to existing customers. "SEMCO's surfacing products
add years to the life of the structure they are bonding to by
eliminating the absorption of water into the surface they are applied
to. SEMCO has the only product on the market which effectively
prevents water damage. This problem has plagued the construction
industry for years and costs the U.S. billions of dollars annually.
One application where this is critical is with bridge construction
and repair. Until now, water damage has corroded the metal rebar
supports which have been used in bridge construction in the past. The
combination of Plasticon's rebar supports, which are impervious to
water because they are made from recycled plastic, and SEMCO's
surfacing products, which completely waterproof the structure they are
bonding to, is unprecedented in our sector," Mr. Turek said. "These
two products, offered together, give Plasticon an enormous
competitive advantage. We will be the only company in our sector that
can offer a truly comprehensive waterproofing solution to the
construction industry."
SEMCO Manufacturing, based in Las Vegas, Nevada since 1981, has
provided their surfacing products to many of the city's most
impressive showcase projects, including a number of 5 star luxury
resorts. Their eclectic customer base also includes high profile
commercial, public and private clientele. Projects have ranged from
critical government facilities (the flooring of the Pentagon) to
elementary schools, community centers and many prominent parks and
public works projects to the Bioshpere project, where the SEMCO team
provided the materials for the creation of a lush, fully functioning
indoor rainforest. SEMCO's product line is noted for its incredible
durability which is why it is not only extensively used indoors, but
also on heavily trafficked outdoor walkways, in extreme outdoor
weather conditions, in chlorinated pool water and on rugged exteriors.
SEMCO Manufacturing has offices in the U.S., Japan, China, Singapore,
and Australia.
AI
