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Prime Industrial Co., Ltd. to Invest $2M in Composite Solutions, Inc

01 November 2000

Composite Solutions, Inc. (CSI) announced that it has reached an agreement with Prime Industrial Co., Ltd. of Korea ("Prime"), whereby Prime will invest $2M US Dollars into CSI. As an equity partner, Prime will launch and run new construction and retrofit projects in Asia that incorporate CSI's revolutionary composite technologies. For this purpose, Prime will make additional investments in Asia as necessary to optimize the Asian market. Of particular interest to Prime is CSI's carbon shell system (CSS) for new construction applications. The shells are lightweight stay-in-place structural forms that eliminate the need for conventional steel reinforcement (rebar) in concrete structures. The use of such forms is expected to lead to faster and more affordable construction, as well as more efficient use of concrete. Additional benefits include the elimination of traditional rebar corrosion problems and the need for heavy lifting equipment. CSI's and Prime's managements predict a multibillion-dollar market potential for new construction applications of this technology in Asia. CSI provides end-to-end solutions for a variety of industries that use fiber-reinforced polymer (FRP) composites. Using technology developed by and licensed from the University of California, San Diego, CSI offers a comprehensive package from analysis through construction. Primary uses of the technology include revolutionary new construction, structural strengthening, earthquake retrofitting, and blast hardening of a variety of structures. For more information, visit CSI's website at