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Hitco Carbon Composites Names President and CEO

23 August 2001

Paul W. Pendorf, President of the AMT II Corporation, has made a substantial investment in Hitco Carbon Composites and has assumed the positions of President and CEO of Hitco.

Mr. Pendorf was a founder and former President of The American Materials & Technologies Corporation, sold to Cytec Industries in 1998. He remained active in the composites industry at Cytec until the end of 2000, when he left and formed the AMT II Corporation. Prior to that he served for over 20 years in senior executive roles at Fiberite, American Cyanamid and Pfizer. He is known as an innovative international entrepreneur who built The American Materials and Technologies Corporation into a strong force in the Advanced Composites Industry.

""I am looking forward to becoming a part of Hitco Carbon Composites, Inc., a premier and well respected organization. We plan to aggressively implement a joint venture/merger/acquisition program that will firmly establish Hitco as a power player in the aerospace, defense, and advanced composites business. Industry consolidation in the Los Angeles basin is still in the early stages. There are many smaller suppliers that have not participated in the consolidation that has occurred in other industries in recent years."" Pendorf elaborated, ""Our goal is very ambitious; we want to be not only the biggest, but the best. We will work to introduce to the prime contractors a large, well-established partner who can assist them in their stated goal of reducing the number of suppliers by giving superior quality product and service. We will create much more business for Hitco and introduce greater procurement efficiency for our customers in the process. We welcome the coming inevitable changes and mean to lead in the transition to the new industrial models.""





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