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Composites Industry News

News for May 2000


Performance Materials Purchases BayComp

2nd May 2000 0 comments

Performance Materials Corporation (PMC), a manufacturer of thermoplastic composite materials and components, has acquired the assets of BayComp, a division of Bay Mills Limited Corporation a subsidiary of Saint-Gobain Group of Paris, France. Performance Materials, located in Camarillo California, services the athletic and medical podiatry and orthopedic markets. Thomas Smith, President and CEO of PMC, states that the synergy between each company’s products, markets, technical know how and management philosophy and strategy makes this an ideal match. BayComp, a manufacturer of thermoplastic composite tapes, pellets, sheet materials and components, will continue to operate in its existing facility in Burlington, Ontario. Performance Materials Corporation and BayComp Company strive to be leaders in the development and manufacturing of thermoplastic composites. For more information contact Thomas Smith.

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Vermont Composites Completes Delivery of Components for Third X-34 Fuselage

2nd May 2000 0 comments

Vermont Composites, Inc., Bennington, Vermont has completed the delivery of the third ship set of composite components for NASA’s X-34 Technology Demonstrator Vehicle Program. The ship set of components comprising of approximately 80 parts was delivered to Orbital Sciences Corporation, Dulles, VA, who will perform the final assembly and vehicle integration. Vermont Composites was awarded the contract by demonstrating that they could design and produce cost effective mold tools in a short time period using solid models downloaded from Orbital’s FTP site. The composite material specified by Orbital Sciences was a low temperature cure epoxy system allowing Vermont Composites to use low cost mold materials that could be quickly fabricated. The fuselage components are sandwich structures with carbon epoxy skins and aluminum honeycomb core. The components were processed in an autoclave for the initial cure and then went through a freestanding oven post cure to increase the high temperature performance of the components. Orbital’s X-34 technology demonstrator launch vehicle is a key step in NASA’s efforts to develop a robust test bed for reusable launch vehicle technology to be applied to future space transportation. The X-34 will be launched from below an L1011 aircraft, fly to the edge of the earth’s atmosphere, return and land on a conventional runway – repeatedly. For more information visit www.orbital.com. Vermont Composites, Inc. offers a full line of services from design and analysis to prototyping and production of high performance composite components. They produce high performance composite parts for the medical, aerospace, electronic, and industrial markets. More information on www.vtcomposites.com.

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Composite Automobile Research Opens Office in Nation’s Capitol

2nd May 2000 0 comments

Composite Automobile Research Ltd. announced it has opened an office in Washington, D.C. The office directs worldwide sales and marketing, as well as monitor the company’s operations. The company also announced an agreement with American Transport Sales Inc. (ATSI) of Lighthouse Point, Fla to commence operations for factories to build WorldStar vehicles in Senegal and Gambia. Composite Automobile Research Ltd. and World Transport Authority Inc. serve the emerging world’s transportation needs through in-country manufacturing facilities utilizing local semi-skilled labor to produce the WorldStar(R) line of utility vehicles.

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Penda Announces Final Sale of Company

2nd May 2000 0 comments

Penda Corporation announced, that effective April 26, the final sale of the company to William Blair Capital Partners, Wind Point Partners, and Norwest Equity Partners, was completed. The current management team at Penda also participated in the new company’s ownership. Penda is the nation’s largest manufacturer and marketer of pick-up truck bedliners, serving both the original equipment and automotive aftermarkets. Penda also manufactures a full-line of truck accessories including soft and hard tonneau covers, step boards, tie-downs, and bedmats. Penda’s subsidiaries, Penda Glasstite, Inc. and Tri-Glas Corporation manufacture premium fiberglass truck caps, running boards and hard tonneau covers. Jack Thompson, President and CEO of Penda Corporation, states, “Penda will continue to focus on making our customers and employees 100% successful. That is what has led to our market leadership in the bedliner industry. Our management team is excited about the new opportunities this partnership will bring.” The new ownership will allow Penda to have access to additional equity to continue their aggressive acquisition strategy. Penda has positioned themselves as a complete platform for truck accessories by purchasing companies that complement their product line over the last 2 years.

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Brunswick Technologies First Quarter Results and CertainTeed’s Tender Offer

2nd May 2000 0 comments

Brunswick Technologies Inc, a leading manufacturer and innovative developer of composite reinforcements, announced it will report first quarter 2000 financial results on Friday, May 5, 2000. BTI is currently the subject of an unsolicited tender offer by Compaigne de Saint-Gobain’s wholly owned subsidiary CertainTeed Corporation. BTI’s Board is continuing to evaluate the offer and has retained McDonald Investments Inc. to assist in that process. BTI has advised shareholders not to respond to the offer and that BTI’s Board of Directors will provide its recommendation on the offer to shareholders prior to May 4, 2000. In addition, BTI has alleged that CertainTeed and its affiliates, the owner of approximately 14% of the outstanding common shares of and a major supplier to BTI, violated Sections 13(d) and 14(d) of the Securities Exchange Act by failing to make timely amendments to its Schedule 13D disclosing its intent to acquire control of BTI, and by failing to comply with SEC requirements concerning the delivery to BTI of its tender offer materials. In addition, BTI’s 5 Count Complaint alleges that the actions of CertainTeed and its affiliates have violated Maine state law. As part of the relief requested, BTI has asked in the best interests of all BTI shareholders that the federal district court enter an interim order temporarily halting CertainTeed’s tender offer for 30 days, so that BTI’s Board of Directors can undertake a reasoned and expeditious evaluation of the terms and conditions of the tender offer and make a recommendation to its shareholders. Examples of products manufactured with BTI engineered reinforcements include: ballistic armor, boats, snowboards, railcars, truck panels, wind blades, airframe structures, automotive parts, marine pilings, bridges, and offshore oil and gas production equipment. BTI has manufacturing facilities in the Maine, Texas and the UK.

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69% Increase In DSM’s First-Quarter Profits to EUR 137 Million

2nd May 2000 0 comments

DSM posted a net result from ordinary activities of EUR 137 million for the first quarter of 2000, up 69% from Q1 1999. Commenting on the result, Peter Elverding, chairman of the DSM Managing Board of Directors, said: “The high sales-volume growth of 15% and the strong increase in net profits clearly show that our strategy of profitable growth is successful. Furthermore, the Operational Excellence programme is clearly paying off. Given this favourable start, I expect DSM’s profits in 2000 to be considerably higher than in 1999.” Net sales in the first quarter of 2000 amounted to EUR 2.0 billion, 33% higher than in the first quarter of 1999, and were the highest quarterly sales in DSM’s history. First-quarter sales were higher than in 1999, despite the divestments made by DSM Engineering Plastic Products in 1999 and by DSM Composite Resins in Q1 2000. The increase in sales was due to the higher sales volumes recorded by all business groups, especially DSM Engineering Plastics and DSM Elastomers, and the high exchange rate for the dollar. Margins were under pressure due to an increase in raw-material prices. On balance, the operating result increased, in particular at DSM Engineering Plastics.

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Sue Grimm Is Named as General Manager of Boeing-Spokane

2nd May 2000 0 comments

Sue Grimm, former senior manager for Boeing Space and Communications Group in Huntington Beach, Calif., is the new general manager of the Boeing-Spokane facility. Boeing Spokane produces floor panels, Air Control Systems (ACS) ducting and non-structural composite flight deck components. These products are shipped from Spokane to Boeing assembly plants in the Seattle area. Prior to this assignment, Grimm was senior manager, Advanced Production Composites, responsible for managing the Composite Business Unit for the Delta II, III, and IV launch programs.

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Ceramics Process Systems Announces First Quarter 2000 Results

2nd May 2000 0 comments

Ceramics Process Systems Corporation today announced net income of $109 thousand on revenue of $1.35 million for the fiscal quarter ended April 1, 2000. This compares with a net income of $151 thousand, on revenue of $1.25 million for the fiscal quarter ended April 3, 1999. Grant Bennett, President, said: “We believe the market for metal-matrix composites is continuing to grow rapidly and that we are well positioned to capture that growth.” CPS develops, manufactures and markets advanced metal-matrix composites for housing and providing thermal management of high-density electronics. The Company’s products are primarily used in high-density microprocessor assemblies, wireless basestations, motor controllers, and satellite communications.

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Thermo Fibergen Announces First Quarter Results

2nd May 2000 0 comments

Thermo Fibergen Inc, a Thermo Electron company, today reported revenues of $2,733,000 for the quarter ended April 1, 2000, compared with $2,074,000 for the same period in 1999. Net income was $278,000, versus $279,000 last year. “Higher demand for our Biodac(R) agricultural carriers continues to solidify our financial results, and we have also made considerable progress in our development of fiber-based composites for plastic lumber and other applications,” said Dr. Yiannis A. Monovoukas, president and chief executive officer of Thermo Fibergen. “We have made significant advancements in refining the formulations and manufacturing processes for our plastic lumber products. We expect to begin limited production in the second quarter, with production capacity increasing throughout 2000. Our composite materials have numerous advantages over plastic lumber products currently on the market, including improved strength and stiffness.” Thermo Fibergen Inc. designs, builds, owns, and operates fiber-recovery and water-clarification plants to help pulp and paper mills improve product quality, reduce costs, and close the loop in their water and solids systems. The company cleans and recycles water and long fiber to be reused in papermaking and converts the remaining solids into commercial products such as dust-free agricultural carriers, oil and grease absorbents, and cat box fillers. The company is actively investing in R&D for additional high-value products. Thermo Fibergen is a public subsidiary of Thermo Fibertek Inc., another Thermo Electron company. More information is available at http://www.thermo.com/subsid/tfg1.html.

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Advanced Technical Products, Inc. Announces of 1999 and 1998 Financial Restatement

2nd May 2000 0 comments

Advanced Technical Products, Inc today announced that it has completed its review of the books and records of its Alcore subsidiary. The Company has previously announced that it was making a review of the Alcore subsidiary’s books and records as a result of a Federal investigation into certain allegations relating to the Alcore subsidiary. The Company announced that it is restating its financial statements for the nine months ended October 1, 1999 and the year ended December 31, 1998. ATP designs, develops and manufactures advanced composite based materials and products from continuous high strength fibers which optimize structural performance while minimizing the components’ weight. ATP believes it is one of a very few with the ability to utilize multiple processes, such as, autoclave lamination, filament winding, resin transfer molding and metal bonding. Using these processes, the Company manufactures products for the aerospace and defense markets, as well as for commercial applications including oil and gas tubulars and fuel tanks for Natural Gas Vehicles. The Company is also a leader in the development and production of chemical defense systems.

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