The Company believes that sales revenue in the die and injection mold industry has been expanding at an average annual rate of some 20 percent in recent years in China. The country grossed about 7.52 billion U.S. dollars in domestic sales of die and injection molds last year, up some 25 percent from a year ago. Customs statistics also show that China exported 740 million U.S. dollars worth of die and injection mold products last year, comparing 490 million U.S. dollars in 2004.
"We believe that to maintain and increase business, we need to be able to provide injection mold solutions off-shore. China's technical ability has improved, while short production lead times, allow products to enter the marketplace in a very short time span," stated Jim Turek, CEO and President of Plasticon International, Inc.
Plasticon International, Inc. recently announced that the Company's wholly owned subsidiary, Pro Mold has implemented a cost reduction program set in place by the management team at Pro Mold. The cost reduction plan may result in anticipated annual savings of approximately $500,000 a year under current projections.
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.
THIS PRESS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS." FORWARD-LOOKING STATEMENTS ARE STATEMENTS CONCERNING PLANS, OBJECTIVES, GOALS, STRATEGIES, EXPECTATIONS, INTENTIONS, PROJECTIONS, DEVELOPMENTS, FUTURE EVENTS, OR PERFORMANCE, UNDERLYING (EXPRESSED OR IMPLIED) ASUMPTIONS AND OTHER STATEMENTS THAT ARE OTHER THAN HISTORICAL FACTS. THESE FORWARD-LOOKING STATEMENTS ARE ONLY PREDICTIONS. NO ASSURANCES CAN BE GIVEN THAT PRO MOLD WILL ACCOMPLISH ITS OBJECTIVES OR THAT SUCH PREDICTIONS WILL PROVE CORRECT. ACTUAL EVENTS OR RESULTS MAY DIFFER MATERIALLY. FORWARD-LOOKING STATEMENTS SHOULD BE READ IN LIGHT OF THE CAUTIONARY STATEMENTS AND RISKS THAT INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH A SMALL COMPANY, OUR COMPARATIVELY LIMITED FINANCIAL RESOURCES, AND OTHER FACTORS THAT MAY ADVERSELY IMPACT US. THESE OR OTHER RISKS COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE FUTURE RESULTS INDICATED OR IMPLIED IN SUCH FORWARD-LOOKING STATEMENTS. WE UNDERTAKE NO OBLIGATION TO UPDATE OR REVISE SUCH STATEMENTS TO REFLECT EVENTS, CIRCUMSTANCES, OR NEW INFORMATION AFTER THE DATE OF THIS PRESS RELEASE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED OR OTHER SUBSEQUENT EVENTS.
For more information: