First National Panel Company Completes Retrofit of Lindstrom Manufacturing Facility
First National Panel Company, Inc.
Production Resumes and Orders are Being Accepted and Fulfilled
LINDSTROM, Minn., Nov. 20, 2008 (GLOBE NEWSWIRE) -- First National Panel Company, Inc. (Other OTC:FNPN) - a leading manufacturer of high-performance pre-cast residential and commercial concrete panel wall systems - today announced completion of the first phase of retrofitting its Lindstrom manufacturing facility.
The company has resumed production and is now accepting and fulfilling orders. An initial contract for 260 panels, costing over $36,000, allows both fine-tuning and final process adjustments that will, in turn, pave the way for numerous larger orders now being negotiated.
Plans to dramatically expand manufacturing capabilities are also in progress. Negotiations are currently underway to purchase a batch plant that will substantially increase FNPC''s production. State-of-the-art electronic weigh batching also provides extreme precision in formulation and greater accuracy in weights and measures for all of FNPC''s products.
"We are very pleased at the tremendous amount of interest being shown in utilizing our panel systems and technologies to defend homes and businesses against various destructive forces of nature... such as high wind velocities and wildfires, to name but a few," states CEO and President, Ricci D. Null. "The strength, durability, fire-resistance and documented ability to withstand wind forces up to 300-plus miles per hour make First National Panel systems a sound choice in many areas of the country where natural disasters are a repetitive problem."
The company has also retained legal counsel to prepare and implement 15c filings for FNPN to trade on the larger Pink Sheet Exchange. This will be beneficial to share holders and will also serve as a major stepping-stone for both near-term expansion and future planned growth.
About First National Panel Company, Inc.
With over 30-years experience in concrete product research and development, and manufacturing process leadership, First National Panel Company, Inc. (Other OTC:FNPN) has recently established its world headquarter operations in Lindstrom, Minnesota. Based on proprietary formulation and cutting-edge production technology, the company manufacturers high-performance pre-cast residential and commercial exterior/interior concrete panel wall systems - capable of withstanding 200 to 300+ MPH sustained winds - as well as numerous other concrete building products including fencing, patio bricks and pavers, sound barriers and retaining walls. Reconstruction in areas enduring recent and recurring natural disasters is but one channel of FNPC''s rapidly expanding, aggressive distribution for its revolutionary light-weight panel system technology. For further information visit www.fnpc.net or call (651) 314-4142.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the company''s current expectations, estimates and projections, management''s beliefs and numerous assumptions, all of which are subject to change. Forward-looking statements maybe identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions: "may," "could," "should" or "might occur." Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized.
CONTACT: First National Panel Company, Inc.
Ricci D. Null, President / CEO
(651) 314-4142
info@fnpc.net