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PlastiComp Establishes European Business and also Forms Alliance with Dutch Firm

30 September 2004

PlastiComp Inc. has formed PlastiComp Europe, and has also established a business alliance with Solid Polymer Solutions.

PlastiComp is the composite materials supplier of Complete pre-compounded composite pellets and Pushtrusion Direct In-Line compounding technology, equipment and know-how.

“The rapid acceptance and global growth of direct in-line compounding, as well the substitution of traditional materials with fibre reinforced composite materials, has created a market opportunity that we are preparing to lead,” said Steve Bowen, President and CEO of PlastiComp.

“Our customers are not just in North America. They are often operating moulding plants in Europe and Asia. By establishing PlastiComp Europe we can provide global business capability and better serve our customers,” continued Bowen.

“Our agreement with Solid Polymer Solutions is exciting. It is the beginning of our organizational presence in Europe and will lead to rapid growth there.”

Dr. Stan Verbraak, President of Solid Polymer Solutions, said, “The business model of SPS is compatible with the objectives of PlastiComp in Europe. To bring new materials to market, we try to position improved materials – through chemistry – and to provide optimized process design, through analysis and innovation.”

Verbraak previously worked with GE Plastics in various technology and product management areas. He has a Ph.D. in polymer technology from Delft University of Technology. Bowen was previously President of the long fibre, CELSTRAN business of Ticona (1984-1999) also affiliated with GE Plastics, and earned his MBA from Vanderbilt University.

“PlastiComp has specific technology and materials that match our market focus. I am very optimistic about the large market opportunity that we are preparing to serve in Europe,” said Verbraak.

“We are a unique supplier of both materials and material compounding systems,” said Bowen. “While most in our industry position pellets against direct in-line compounding, depending on what products are being offered to the market, PlastiComp focuses on customer needs. We can provide either solution, and help customers select the approach that is best for their businesses.”

“When our customers succeed through the use of our technology, we succeed, too,” continued Bowen. “We want to support them to optimize their market position and maximize their operating and financial results. Our affiliation with SPS and European operations will enhance our abilities to do this on a global basis.”