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Thermo Fibergen Announces First Quarter Results

02 May 2000

Thermo Fibergen Inc, a Thermo Electron company, today reported revenues of $2,733,000 for the quarter ended April 1, 2000, compared with $2,074,000 for the same period in 1999. Net income was $278,000, versus $279,000 last year. "Higher demand for our Biodac(R) agricultural carriers continues to solidify our financial results, and we have also made considerable progress in our development of fiber-based composites for plastic lumber and other applications," said Dr. Yiannis A. Monovoukas, president and chief executive officer of Thermo Fibergen. "We have made significant advancements in refining the formulations and manufacturing processes for our plastic lumber products. We expect to begin limited production in the second quarter, with production capacity increasing throughout 2000. Our composite materials have numerous advantages over plastic lumber products currently on the market, including improved strength and stiffness." Thermo Fibergen Inc. designs, builds, owns, and operates fiber-recovery and water-clarification plants to help pulp and paper mills improve product quality, reduce costs, and close the loop in their water and solids systems. The company cleans and recycles water and long fiber to be reused in papermaking and converts the remaining solids into commercial products such as dust-free agricultural carriers, oil and grease absorbents, and cat box fillers. The company is actively investing in R&D for additional high-value products. Thermo Fibergen is a public subsidiary of Thermo Fibertek Inc., another Thermo Electron company. More information is available at http://www.thermo.com/subsid/tfg1.html.