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Composites Industry News

News for July 2000


Cities Embrace Wacky Sculptures

4th July 2000 0 comments

It started with herds of wildly decorated fiberglass cattle in Zurich and Cows on Parade in Chicago. They made people grin, bring their friends, look for more. Now cows of unexpected hues and patterns graze in Manhattan, 6-foot hares prepare to leap in Saginaw, Mich., 5-foot-high fantastic fish swim in New Orleans, and moose stalk the streets of Toronto and Whitefish, Mont. Norfolk, Va., has a medley of mermaids. Six-foot ears of corn decorate Bloomington, Ill. St. Paul has its own take on the theme: 51 dancing, 5-foot-tall Snoopys, celebrating “the joy of being Snoopy” and honoring the late Charles Schulz, a native son. Three to four dozen similar projects are supposed to take place this summer in North America, said Nathan Mason, curator of special projects for Chicago’s Department of Cultural Affairs. And that, he emphasizes, is “by no means definitive.” Chicago is even planning a new exhibit for next year, but officials won’t give out any details. “It looks like it’s on a growth curve and not likely to slow down,” says Jack Becker, editor of Public Arts Review, based in St. Paul. “If Chicago can reinvent itself and come up with something even more inventive, I’d say we’re up for a decade of things on parade.” Norfolk’s mermaids are $2,000, including a $350 honorarium for the artist. Chicago’s cows started at $3,500, with $1,000 going to the artist. New Orleans’ fish are $3,000, with $1,000 to the artist.

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K2 Inc. to Sell Simplex Building Products Division

4th July 2000 0 comments

K2 Inc. announced an agreement to sell its Simplex building products division to Ludlow Building Products Inc. for $27.5 million in cash. “The Simplex sale further emphasizes K2’s commitment to enhancing shareholder value by focusing our company’s resources on growing our sporting goods franchise,” said Richard M. Rodstein, president and chief executive officer. “While Simplex has been a consistent contributor for many years, this divestiture will allow us to re-deploy assets to grow our core sporting goods business through internal means and by acquisition.” On an immediate basis, K2 plans to use the proceeds from the sale to reduce debt. K2 Inc. is a leading designer, manufacturer and marketer of brand name sporting goods, recreational and industrial products. The company’s sporting goods and recreational products include well-known names such as K2 and Olin alpine skis; K2, Ride and Morrow snowboards, boots and bindings; K2 in-line skates; Stearns sports equipment; Shakespeare fishing tackle; K2 bikes; and Dana Design backpacks. K2’s other recreational products include Planet Earth apparel, Adio skateboard shoes and Hilton corporate casuals. K2’s industrial products include Shakespeare extruded monofilaments, marine antennas and fiberglass light poles.

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Composite Solutions to Acquire Anchor Reinforcements

4th July 2000 0 comments

Composite Solutions, Inc has entered into a Letter of Intent to acquire Anchor Reinforcements of Huntington Beach, Calif. Anchor Reinforcements manufactures non-woven unidirectional fabrics, comprised of carbon, aramid and/or glass fibers. The existing facility has the capability to manufacture multi-axis fabrics and prepregs for use in a variety of composite industries. The production capabilities provide an ideal fit with the product needs and industry markets that CSI intends to service. Anchor Reinforcements licenses proprietary fabric technology from the United Kingdom and has provided materials for products that include: sailboards, snowboards, satellites, and civil construction systems. CSI’s acquisition of Anchor Reinforcements would provide a significant revenue stream and open a variety of non-civil construction industries for CSI’s optimized solutions and analytical software capabilities. The incorporation of CSI’s engineering, analytical, and technical services with the Anchor Reinforcements product line could add significant value to the existing clientele of Anchor Reinforcements, and could substantially increase its annual sales. Anchor Reinforcements would become a wholly owned subsidiary of CSI upon finalization of the acquisition. The addition of services to both CSI and Anchor Reinforcements would allow each company to service its markets more effectively. In addition, it is expected that the combined efforts would create new markets for both.

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Jaguar Racing, Lear Corporation Present FIA With Extractable Seat Chassis

4th July 2000 0 comments

Jaguar Racing, in cooperation with the team’s Technology Partner, Lear Corporation, presented to the Federation Internationale de l’Automobile (FIA) a new lightweight Jaguar R1 chassis equipped with a Formula One extractable seat system for use in training sessions for Grand Prix race track marshals. The new Jaguar R1 training chassis, debuting at the French Grand Prix, will be shipped to subsequent Grand Prix races to train marshals for potential driver extrication.. The award-winning extractable seat system was a collaboration between technical and design engineers at Lear, Jaguar Racing (formerly Stewart Grand Prix) and the FIA. The seat is designed for rapid extrication of an injured driver (30% faster than conventional methods), to prevent further injury and to provide better stabilization. Track marshals are trained to apply the extractable seat system’s head stabilization board, attach the belts and lift the immobilized driver from his car without causing further injury. Fortunately, the extractable seat has not been put to the test during the 1999 or 2000 Grand Prix seasons, but each driver now uses a version of the seat made in accordance with Lear-Jaguar Racing design specifications. The new design converted the uncomfortable, old foam seat to new, carbon fiber/kevlar composite structural sheet supplemented with individualized foam inserts to enhance driver comfort and support. The new seat structure also is lighter, an important factor in racing.

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CertainTeed Corporation Completes Cash Tender Offer For Brunswick

4th July 2000 0 comments

CertainTeed Corporation announced the successful completion of its tender offer for the outstanding shares of Brunswick Technologies, Inc. at a price of $8.50 per share, in cash. The offer expired at midnight, New York City time, on Thursday, June 29, 2000. As of the expiration of the initial offering period, based on preliminary information from the depositary for the offer, approximately 3,496,700 shares of BTI’s common stock had been validly tendered and not withdrawn pursuant to the offer. These shares, together with the 713,746 shares currently owned by Vetrotex CertainTeed Corporation, CertainTeed’s fiberglass reinforcements business, represent approximately 80% of BTI’s outstanding shares. CertainTeed has accepted for payment all validly tendered shares. Payment for the accepted shares will be made promptly through the depositary for the offer. CertainTeed will provide a subsequent offering period of ten business days for the BTI tender offer, during which shares of BTI that are validly tendered will be accepted as they are tendered and promptly paid for at the same price paid for shares purchased during the initial offering: $8.50 per share, in cash. Shares that are tendered during the subsequent offering period may not be withdrawn. Following the subsequent offering period, CertainTeed and BTI will proceed with their previously announced merger pursuant to which CertainTeed will acquire the remaining equity interest in BTI. As a result of the merger, each share of BTI common stock that was not tendered in the original tender offer or the subsequent offer period will be converted into the right to receive $8.50 in cash, without interest, subject to dissenters’ rights. If, as a result of the subsequent offer, CertainTeed beneficially owns at least 90% of BTI’s outstanding shares, no further shareholder action will be required to approve the merger, which would be completed by mid-August. If, as a result of the subsequent offer, CertainTeed beneficially owns less than 90% of BTI’s outstanding shares, a special meeting of shareholders will be called for the purpose of approving the merger. The required vote to effect such a merger is a simple majority. This vote is assured since CertainTeed currently owns more than 50% of BTI’s shares. The special meeting would be scheduled for early fall.

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Advanced Technical Products Announces a Plan to Sell Its Alcore Division

4th July 2000 0 comments

Advanced Technical Products, Inc announced that its Board has adopted a plan to sell its Alcore and Alcore Brigantine subsidiaries. For financial reporting purposes, these business units will be treated as discontinued operations. To date, the Company has not entered into any agreement or arrangement with any third party to purchase the subsidiaries. Garrett L. Dominy, President and CEO said, “The Company’s strategy is to exit the materials segment of the business and focus its efforts on the core competencies of manufacturing advanced composite structures and chemical defense products which have shown strong growth this year over the past year.” Advanced Technical Products, Inc. designs, develops, and manufactures high-performance radomes, aircraft components, rocket motor cases, pressure vessels, fuel tanks, shelter systems and other advanced composite products utilizing various production capabilities. The Company is also a leader in the design, development and manufacture of nuclear, biological and chemical detection and protection equipment. The Company’s products are used in a variety of applications in the aerospace and defense industries, as well as, commercial markets.

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TRW Ships AstroMesh Reflector

4th July 2000 0 comments

TRW Inc. has delivered to Hughes Space and Communications Co. the third in a series of four large, lightweight, deployable reflectors designed to serve as an antenna for high-power spacecraft communications systems. Measuring more than 12 meters (40 feet) in diameter and weighing only 55 kilograms (121 pounds), the reflector is one of the largest developed for satellite communications applications, such as mobile communications systems. Its large size enables hand-held voice and data communications from geo-stationary orbit 23,000 miles above the ground. “Our patented AstroMesh(TM) reflectors meet the industry’s need for larger antenna apertures on new communications satellites,” said James Conlan, president, TRW Astro Aerospace. “Their unique design minimizes the size and mass for launch and reliably deploys in space to form the large dish-shaped antenna reflector. The reflectors are an example of the highly reliable and affordable space deployable products that we’ve been supplying to the space industry for more than 40 years.” AstroMesh reflectors, which have been built in 6-meter and 12-meter designs, are made of a graphite composite tube truss structure that unfolds from a cylindrical stowed shape. When stowed, the reflector folds into a package only 10% of its full diameter.

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Antidumping Duty Administrative Review; Aramid Fiber from the Netherlands

11th July 2000 0 comments

The US Department of Commerce is conducting an administrative review of the antidumping duty order on aramid fiber formed of poly para-phenylene terephthalamide from the Netherlands in response to requests by Twaron and DuPont. This review covers sales to the United States between June 1 1998 and May 31 1999 by Twaron. The preliminary results of the review indicate the existence of dumping margins for the above period

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Composite Solutions, Inc. to Acquire Karagozian and Case Structural

11th July 2000 0 comments

Engineers Composite Solutions, Inc is pleased to announce that it has signed a letter of intent with the principals of Karagozian and Case Structural Engineers (K&C) for the acquisition of K&C by CSI. The terms of this transaction are being finalized and will involve an exchange of K&C shares for CSI shares. Composite Solutions, Inc. uses advanced composites in the form of carbon, aramid, or glass fiber — reinforced polymer sheets to strengthen buildings and bridges and to minimize the damage from earthquakes, deliberate and accidental explosions, wind, and overloading. Karagozian and Case is a consulting engineering firm that provides a wide spectrum of civil and structural engineering services, including earthquake engineering and engineering related to the effects of explosions (blasts). Of particular interest to CSI are K&C’s unique experience and capabilities concerning advanced fiite-element based computer simulations of structural response and damage resulting from blast events and generating advanced design concepts to mitigate blast effects. The recent moves by CSI to acquire K&C, as well as Trans-Science Corporation and Anchor Reinforcements reflect part of a strategic integration plan. This merging of expertise will allow CSI to furnish end-to-end turnkey services ranging from threat (seismic or blast) analysis — to retrofit design — to retrofit material systems selection — to retrofit construction and implementation.

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Glassmaster Co – Third Quarter Sales & Earnings

11th July 2000 0 comments

Glassmaster Company reported sales for the third quarter ending May 28, 2000 were $6,259,009, an increase of 14.2% when compared with the same period last year, and a 16.4% increase compared to the previous quarter of the current fiscal year. Year to date sales of $15,925,525 are down 1.6% from last year. Monofilament sales increased 38.6% compared to the same quarter last year and the outlook is good for the fourth quarter. Glassmaster Company is a Lexington, South Carolina-based processor- fabricator of thermoplastic and thermoset plastic materials, where it manufactures extruded monofilaments including sewing thread, filaments for papermakers fabrics, trimmer, and fishing lines. The Company also manufactures specialty fiberglass products including the Glassmaster Composites Modular Building System.

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