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J.A. INDUSTRIES ANNOUNCES LETTER OF INTENT WITH CAPITAL CITY PLASTICS

 NEW YORK, Nov. 18 /PRNewswire/ -- Management of J.A. Industries Inc. (NASDAQ: JIND) announced today that it has entered into a letter of intent with Capital City Plastics Ltd. of Edmonton, Alberta, to acquire all of Capital City's assets. The deal calls for the issuance of 600,000 common shares of the company in exchange for all of the assets of Capital City Plastics. The particulars of the deal also include moving the equipment to Mexico and setting them up to be used to manufacture plastic moulded parts for the southern market. The company will pay $50,000 (U.S.) to the principals of Capital City Plastics when the equipment is transported to Mexico. In addition, the agreement calls for two $25,000 payments 90 days after the initial payment and 180 days after the initial payment. The master mould maker will move to the new manufacturing location to ensure a continuance of quality products.
 Capital City Plastics is an injection moulding operation with expertise in mould making. It is anticipated that Capital City's revolutionary plastic water pump system shall provide $10,000,000 in sales over the next three years for J.A. Industries. The equipment will also augment the existing business of J.A. Industries by providing moulded parts for the wire harness and electronics division.
 -0- 11/18/93
 /CONTACT: J.A. Michie, Public Relations, of J.A. Industries, 604-644-8496/
 (JIND)


CO: J.A. Industries Inc.; Capital City Plastics Ltd. ST: New York, Edmonton IN: SU:

JH-AL -- SE007 -- 6135 11/18/93 14:54 EST
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Publication:PR Newswire
Date:Nov 18, 1993
Words:258
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