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Advanced Products Corporation Acquires Majority Interest in Vermont Composites

23 September 2004

Advanced Products Corporation (APC) has purchased a majority interest in Vermont Composites, Inc.

Advanced Products Corporation is a holding company whose goal is to establish a major product capability for the next generation of materials including carbon fibre products for aerospace, defence, medical and automotive applications.

“Vermont Composites represents a major building block in APC’s portfolio. We look forward to working with Vermont Composites’ management team to grow the company substantially,” said Paul W. Pendorf, President of APC.

Vermont Composites looks forward to added growth in its Bennington, Vermont facility and believes that the purchase by APC will accelerate this growth,” said Dan Maneely, President of Vermont Composites. “Our management team will continue in its function to lead Vermont Composites into this new era of expansion and increased prominence in the manufacturing of both aerospace and commercial markets,” Mr. Maneely concluded.

Vermont Composites was formed in 1996 when the management team purchased the company from Courtaulds. Since that time, the company has more than doubled in size.

Vermont Composites, Inc. designs, develops and fabricates advanced composite structures for commercial and aerospace markets. The Company is ISO 9001-2000 certified and services a broad range of customers. Manufacturing processes include lay up, autoclave and press cure, CNC routing and machining, finishing, and assembly. Support functions include design, analysis, tooling, design, testing and all administrative functions.

Products include: medical x-ray tables and other composite structures used in diagnostic imaging, products for the aerospace and aircraft industries including fairings, radomes, electronic enclosures, and other composite structures used in aircraft, launch vehicles, and spacecraft.





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