Plastics Recycling Company Announces Acquisition

Plasticon International, Inc. announce that it has signed a letter of intent to acquire XYLOX of North America, Inc.

XYLOX develops thermoplastic elastomers from crumb rubber and scrap plastic.

Plasticon International, Inc. produces rebar supports, plastic lumber, and other products from recycled and recyclable plastics. The acquisition will allow Plasticon to develop new rubber/plastic composites using 100 percentrecycled materials.

James Turek, Plasticon’s president and CEO, said, "We will be the primary and leading entrant in a new, evolutionary industry developing new, raw materials having significant environmental benefits and economic advantages over virgin resins. The company's goal is to promote the newly created, raw material resins internationally.

"This acquisition can substantially reduce our material costs for rebar supports as well as our plastic lumbers. This resin may be used in thousands of products with uses worldwide," said Turek. "Preliminary testing is underway in the automotive industry for use in fender liners and grills. Revenues projected by XYLOX management reflect sales in excess of 23,000,000 in the second year."