Wednesday, June 1, 2005
Pittsburg, CA: Hunter Paine Enterprises (HPE) announced recently that it is initiating a limited equity offering of up to 700,000 additional preferred and common units raising up to an additional seven and a half million dollars to support the company’s continued development growth and market launch. A privately held materials technology company, Hunter Paine is currently developing Lexite™, a structurally superior wood replacement composite lumber made from recycled materials. The Company has an identified customer base and has attracted a number of individual investors as well as a large corporate sponsor and low interest loans from local and state authorities.
Lexite™ development continues to be championed by the Executive Management Team and Board of Managers. The company continues to receive endorsements for Lexite™ from customers, congressional representatives, suppliers and potential business partners. “Lexite™ is a revolutionary product for a multitude of industries. “I receive calls and letters on a daily basis from prospective customers inquiring about the availability of Lexite™ for their current businesses as well as for new applications,” said Company Founder and Executive Vice President of Operations, Patrick Winters.
Hunter Paine has installed one experimental production line in its current facility and plans to set up three additional production lines. Product from this experimental line has been tested both in-house and at outside accredited engineering test labs. Lexite™ continues to exhibit durability and strength characteristics that exceed industry standards for wood and other composite materials. Lexite™ will be launched initially into the pallet market to be followed by additional logistics applications, construction materials, and decking. The company intends to continue its market and production expansion in the U.S. and abroad once the manufacturing process and equipment are fully established.
Interested investors are encouraged to contact Danna Glauser at (925) 432-9100 or dglauser@hunterpaine.com for additional information and to schedule a plant tour or management briefing.
About Hunter Paine Enterprises
Established in 1999, Hunter Paine Enterprises, LLC (HPE) is a privately held company committed to developing innovative, cost effective and patented technologies that will be used as replacements for wood in commercial and industrial applications. The company’s first product offering is Lexite™, a structurally superior wood replacement composite lumber. Launched initially into the transportation and logistics industry, Lexite™ will be used to build pallets and to supply replacement boards for pallets. Made from recycled post consumer waste including scrap tires, Lexite is 100% reusable and recyclable. As a company, Hunter Paine is committed to innovating traditional businesses with sustainable, ecological and pollution free products. The company headquarters and manufacturing facilities are both located in Pittsburg , CA.
Contact
Hunter Paine:
Danna Glauser
1-888-lexite1 (or 1-888-539-4831)
dglauser@hunterpaine.com ### |
