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Westbond completes equipment purchase...
September 19th 2005
WestBond Enterprises Corporation ("WestBond") is pleased to announce that it has purchased equipment from a California based paper converter which will greatly expand the company's product mix, capacity and operating efficiency.
With the added capacity and the ability to provide a complete product line, WestBond will now focus on markets and distributors which it has not previously serviced. In addition to the full line of medical and clinical paper disposables, the company will be able to offer all personal hygiene products for the away from home market such as bathroom tissue, roll and folded towels, facial tissue, napkins, and wipers.
WestBond has already started the process of supplying distributors in the California market. With a population base of 54 million within easy shipping means, sales for the company are expected to increase significantly in the next 6 months.
The equipment was purchased for US$425,000 and was partially financed through a Cdn$465,000 term loan at prime plus 3/4% repayable over 5 years. The balance of the purchase price, shipping and installation costs will be paid from cash flow. Installation and start up of the equipment at WestBond's Delta manufacturing facility are expected to be completed in the next 60 days.



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