NASDAQ OMX

Update on Perfectus’ Shipment from Port of Long Beach

16.1.2017 05:35 | NASDAQ OMX

Del

ONTARIO, Calif., 2017-01-16 05:35 CET (GLOBE NEWSWIRE) --

Perfectus Aluminum Inc. would like to clarify recent reports regarding export of our product at the Port of Long Beach in California. 

Perfectus has learned this morning through media reports of the seizure of formerly detained product by U.S. Customs and Border Protection (CBP) at the Port of Long Beach. We are surprised to learn about this development as CBP—after inspection—previously released a significant portion of previously detained shipments containing identical product.

Perfectus has the utmost respect and appreciation for the duties and responsibilities of CBP officials. For this reason, Perfectus has made itself available to discuss this matter and potentially address any of the government's questions or concerns.

On December 27, 2016, Perfectus felt it necessary to file legal action (attached) to release our property. This action was filed only after a series of delays, which exceeded the allowable 30-day limit for detention, and a lack of communication. This action, which speaks for itself, was based on a lack of notice and basis for the detention—which has continued to date.

Perfectus will remain available to engage in constructive dialogue with the agencies involved—including to assist in the testing or analysis of the remaining product being held—and looks forward to a speedy and amicable resolution of this matter.

A file archive of the legal action accompanying this announcement is available here http://www.globenewswire.com/NewsRoom/AttachmentNg/d0a7458f-8eb3-4567-ab69-67c84b23c3a0

         Please address any questions to Harris, Baio & McCullough at 215-440-9800.

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