Wellex Industries, Inc. (WIN) was originally incorporated on October 19, 1956 as Republic Resources and Development Corporation to primarily engage in the business of mining and oil exploration. Beset by difficulties experienced by the oil and mining industries during the 1980s, the company's pursuit of activities to revitalize itself led to the entry of The Wellex Group, Inc. (TWGI) in 1994. The company was subsequently transformed into a holding company for manufacturing concerns, and changed its name to Wellex Industries, Inc. on September 18, 1997. The company's two subsidiaries, Plastic City Industrial Corporation (PCIC) and Philfoods Asia, Inc. have temporarily ceased their manufacturing and commercial operations due to continued losses. PCIC subsidiaries, however, have leased out its warehouse and building facilities. WIN's present activity is focused on reorganizing its operations and maintaining its equipment and facilities in preparation for the resumption of its operations. It is currently looking for strategic partners whether local or foreign to operate the PCIC plant. On April 3, 2009, the Securities and Exchange Commission approved the amendment of the WIN's primary purpose from a holding company to a company engaged in the business of mining and oil exploration. Source: SEC Form 17-A (2008); CFB No. 2009-2518