NetComposites
Thermwood

PlastiComp and Indore Sign Strategic Business Alliance

02 September 2005

The Long Fibre Reinforced Thermoplastic (LFRTP) technology developed and used by PlastiComp LLC for the production of Complçt Composite Pellets will be transferred to Indore Composites of Bombay, India.

In making the announcement, PlastiComp President and CEO, Steve Bowen, reported that, “This strategic alliance enables Indore to manufacture Complçt Composite Pellets and represent the brand for sale, thus expanding our PlastiComp global supply capability.”

Under the terms of the alliance, the transfer of technology and know-how to Indore will allow global customers to purchase the same compounds from either Indore or PlastiComp. The agreement will also allow Indore to rapidly enter the growing commercial market for LF materials in the Asian markets.

Indore Director, Mukesh Sanghvi noted, ""The markets for high volume composite materials are rapidly expanding. Indore is already well positioned as a market leader as a global supplier of fibre optic cable tension members, so we are very experienced in processing continuous glass fibre reinforced composites. The development of a composite pellet business will complement our core business and fully utilize our core competencies in composite materials.""

Indore expects the long fibre pellet production to be on-line in 2006. The plant will be located in the Bombay area. Materials will be available from Indore both produced in India and imported from PlastiComp.

PlastiComp LLC is a technology company offering PushtrusionSM in-line compounding technology, Complçt composite pellets, and composite materials development services.

Bowen, commented, ""I am pleased to renew my friendship with Mukesh through our new strategic alliance. I first met Mukesh in about 1990, when he taught composites at Winona State University and I was managing the Celstran business for Hoechst Celanese. We began discussing the opportunity to develop this new business relationship about a year ago. We fully expect our cooperation in long fibre pellets to a growing business relationship.”