Ameriplas announces new director and recovery of funds from limited partnership

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[{"type":"text","content":"\n\n\n\nTrading Symbol: TSX-V: AHL\n\n\nVANCOUVER, June 19 /CNW Telbec/ - Ameriplas Holdings Ltd. ("Ameriplas" or\nthe "Company") (TSX-V: AHL) announces that the Company's wholly owned\nsubsidiary, Ameriplas International Inc. has recovered $25,068 during the 2007\nfiscal year (advanced $62,620 during 2006) from a related limited partnership,\nof which Ameriplas is the general partner. The Company leases its production\nfacilities from the limited partnership and has endorsed and guaranteed a loan\nliability of the limited partnership, which loan had a balance of $555,940 as\nat November 30, 2007 (2006 - $599,260). The loan was used to buy the land and\nconstruct the facilities for the Company. The loan is guaranteed by a 2nd rank\nchattel mortgage on the Company's property, plant and equipment and Messrs\nClement and Andre Lussier, directors of the Company, have also personally\nguaranteed the loan. Rental charges pursuant to the lease agreement are\ndeducted from any advances and the funds advanced to the limited partnership\nare non-interest bearing with no specific terms of repayment.\n\n\nThe Company has appointed Mr. Edouard Bonaldo as a director, effective\nJune 16, 2008. Mr Bonaldo is the general manager of the Centre d'Aide aux\nEntreprises Haut-Richelieu, QC. and replaces Mr. Mark T. Brown who was a\ndirector from August 2002 until March 17, 2008.\n\n\nAMERIPLAS OPERATIONS\n\n\nAmeriplas has been in the business of manufacturing plastic preforms for\nthe Canadian and U.S. water and soft drinks bottling industry since December\n1999. Preforms are made from plastic PET (polyethylene teraphthalate) pellets\nand sold to beverage companies that heat and blow them into the form of\nbottles used for their beverages. PET preforms are used industry wide in the\nproduction of plastic beverage containers to avoid the costs and difficulties\nof shipping bulky plastic bottles. A primary use of these bottles is for\nbottled water, which is the fastest growing segment of the beverage industry.\nOther uses include soft drinks, sports drinks, and beer.\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\n\n\nresponsibility for the adequacy or accuracy of this release.\n\n\n","length":2283,"tagName":"div"}]

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