Plymouth Rubber Company, Inc. to Form Joint Venture in China
22 Diciembre 2004 - 3:36PM
PR Newswire (US)
Plymouth Rubber Company, Inc. to Form Joint Venture in China
CANTON, Mass., Dec. 22 /PRNewswire-FirstCall/ -- Plymouth Rubber
Company, Inc. (AMEX:PLR.AAMEX:PLR.B) today announced that it has
reached agreement with Hebei Huaxia Group on the formation of a
Joint Venture company to manufacture PVC (vinyl) adhesive tapes in
China. The deal is expected to close within 30 days. Hebei Huaxia
will provide the new company with manufacturing assets and
management, and knowledge of the Chinese market; Plymouth will
provide advanced PVC technology and marketing support for
international companies with operations in China. "We believe that
the combination of Plymouth's and Huaxia's strengths will make our
Joint Venture a high-quality, low-cost, and very effective
competitor in the marketplace", said Maurice Hamilburg, Plymouth's
President and co-CEO. The new company, to be called Plymouth Yongle
Tape (Shanghai) Co., Ltd., will occupy a new manufacturing facility
currently under construction near Shanghai, and is expected to be
in production early in 2005. Other details were not disclosed.
Plymouth Rubber Company, Inc. manufactures and distributes plastic
and rubber products, including automotive tapes, insulating tapes,
and other industrial tapes and films. The Company's tape products
are used by the electrical supply industry, electric utilities, and
automotive and other original equipment manufacturers. Through its
Brite-Line Technologies subsidiary, Plymouth manufactures and
supplies highway marking products. This release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities and
Exchange Act of 1934. The Company's actual results could differ
materially from those set forth in the forward-looking statements
as a result of various factors, including those referenced in the
"Management's Discussion and Analysis" section of the Company's
most recent Annual Report on Form 10-K, which is on file with the
SEC. Contact: Joseph J. Berns Vice President - Finance (781)
828-0220 Ext. 1377 DATASOURCE: Plymouth Rubber Company, Inc.
CONTACT: Joseph J. Berns, Vice President - Finance of Plymouth
Rubber Company, Inc., +1-781-828-0220 Ext. 1377 Web site:
http://www.plymouthrubber.com/
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