Composite Solutions to Acquire Anchor Reinforcements

04 July 2000

Composite Solutions, Inc has entered into a Letter of Intent to acquire Anchor Reinforcements of Huntington Beach, Calif. Anchor Reinforcements manufactures non-woven unidirectional fabrics, comprised of carbon, aramid and/or glass fibers. The existing facility has the capability to manufacture multi-axis fabrics and prepregs for use in a variety of composite industries. The production capabilities provide an ideal fit with the product needs and industry markets that CSI intends to service. Anchor Reinforcements licenses proprietary fabric technology from the United Kingdom and has provided materials for products that include: sailboards, snowboards, satellites, and civil construction systems. CSI's acquisition of Anchor Reinforcements would provide a significant revenue stream and open a variety of non-civil construction industries for CSI's optimized solutions and analytical software capabilities. The incorporation of CSI's engineering, analytical, and technical services with the Anchor Reinforcements product line could add significant value to the existing clientele of Anchor Reinforcements, and could substantially increase its annual sales. Anchor Reinforcements would become a wholly owned subsidiary of CSI upon finalization of the acquisition. The addition of services to both CSI and Anchor Reinforcements would allow each company to service its markets more effectively. In addition, it is expected that the combined efforts would create new markets for both.

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