Trading Symbol: TSX-V: AHL
VANCOUVER, June 19 /CNW Telbec/ - Ameriplas Holdings Ltd. ("Ameriplas" or the "Company") (TSX-V: AHL) announces that the Company's wholly owned subsidiary, Ameriplas International Inc. has recovered $25,068 during the 2007 fiscal year (advanced $62,620 during 2006) from a related limited partnership, of which Ameriplas is the general partner. The Company leases its production facilities from the limited partnership and has endorsed and guaranteed a loan liability of the limited partnership, which loan had a balance of $555,940 as at November 30, 2007 (2006 - $599,260). The loan was used to buy the land and construct the facilities for the Company. The loan is guaranteed by a 2nd rank chattel mortgage on the Company's property, plant and equipment and Messrs Clement and Andre Lussier, directors of the Company, have also personally guaranteed the loan. Rental charges pursuant to the lease agreement are deducted from any advances and the funds advanced to the limited partnership are non-interest bearing with no specific terms of repayment.
The Company has appointed Mr. Edouard Bonaldo as a director, effective June 16, 2008. Mr Bonaldo is the general manager of the Centre d'Aide aux Entreprises Haut-Richelieu, QC. and replaces Mr. Mark T. Brown who was a director from August 2002 until March 17, 2008.
AMERIPLAS OPERATIONS
Ameriplas has been in the business of manufacturing plastic preforms for the Canadian and U.S. water and soft drinks bottling industry since December 1999. Preforms are made from plastic PET (polyethylene teraphthalate) pellets and sold to beverage companies that heat and blow them into the form of bottles used for their beverages. PET preforms are used industry wide in the production of plastic beverage containers to avoid the costs and difficulties of shipping bulky plastic bottles. A primary use of these bottles is for bottled water, which is the fastest growing segment of the beverage industry. Other uses include soft drinks, sports drinks, and beer.
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