Beacon Light Holding Corporation announces Letter of Intent.JERSEY CITY, N.J.--(BUSINESS WIRE)--June 3, 1998--Beacon Light Holding Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB "BLHG") Chairman Jerry Gruenbaum announced that the company has entered into a Letter of Intent to purchase 51% of Shantou S.E.Z. Crescendos Electronic Co., Ltd. The acquisition is subject to an audit of Shantou by Beacon Light's independent auditors Independent Auditor An external auditor with a certified public accounting designation that qualifies him or her to provide an auditor's report. Notes: These auditors aren't affiliated with the company being audited. , to verify the accuracy of Shantou's 22 million in sales, as well as their assets. Shantou currently is a manufacturer and exporter of computer monitors doing business in the U.S., France, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. and other countries. Mr. Gruenbaum was quoted as saying the synergy between Beacon Light's most recent acquisition, the Beacon Light/XINHUI plastic factory, and Shantou will allow for autonomy in the manufacture of the computer monitors because Shantou will no longer need to subcontract sub·con·tract n. A contract that assigns some of the obligations of a prior contract to another party. intr. & tr.v. sub·con·tract·ed, sub·con·tract·ing, sub·con·tracts out for the plastic components. The plastic components will be produced by Beacon Light/XINHUI Plastics. Currently Beacon Light is working with its partner Pinnacle International Corp., to fulfill Pinnacle's purchase orders for the Beacon Light/XINHUI plastics factory located in XINHUI, China.
CONTACT: Jerry Gruenbaum, President
Beacon Light Holding Corporation
860.647.4860 Fax: 860.647.4820
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