SOURCE: Plasticon International, Inc.

June 08, 2007 08:30 ET

Plasticon International, Inc. Postpones Share Exchange Program

LEXINGTON, KY--(Marketwire - June 8, 2007) - Plasticon International, Inc. (PINKSHEETS: PLNIQ) announced today that the Company has postponed its share exchange program until further notice. Plasticon has postponed the exchange in order to allow the Company to coordinate its capital stock reorganization with the restructuring of its debt.

Preparations were made earlier this year for Plasticon to reorganize its equity structure by offering to its shareholders of record the opportunity to exchange Common Stock for a newly created class of Convertible Preferred Stock. On May 16, 2007 the Company filed a Chapter 11 corporate reorganization proceeding in order to preserve the value of its subsidiary, Pro Mold, Inc., whose assets were in jeopardy. Chapter 11 allows a company to reorganize while it continues to operate and grow its business, as opposed to liquidation.

"The Board of Directors of the Company has decided to take advantage of the opportunity presented by the Chapter 11 proceeding to restructure its capital stock at the same time it restructures its debt through a plan of reorganization. We expect to proceed with the exchange program at a later date. Shareholders should visit the Company's Web site for updates on this and other news about the Company," stated Jim Turek, CEO and President of Plasticon International, Inc.

Plasticon International, Inc. recently announced that the Company's wholly owned subsidiary, SEMCO Manufacturing, is in the final stages of installing flooring in a Lexington, KY, Cadillac and Volvo dealership. The project is valued at an estimated $30,000 in revenue and is expected to be completed in approximately two weeks.

About Plasticon International, Inc.:

Plasticon International ( designs, produces, and distributes high-quality concrete accessories, informational and directional signage and plastic lumber, which are all produced from recycled and recyclable plastics. Plasticon is a leader and an innovator of cutting-edge design, engineering, and production of industrial and commercial products. Plasticon is an environmentally friendly company 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) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given 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.

To automatically receive instant updates, press releases, and other information on this and other Big Apple Consulting USA companies, please visit and download your FREE copy of Big Apple ComPro.

Contact Information