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Composites Industry News

News for 16 May 2000


Brunswick Technologies Says ISS Recommends Management Proposals

16th May 2000 0 comments

Brunswick Technologies, Inc said that Institutional Shareholders Services (“ISS”), the world’s leading provider of proxy advisory services, has recommended to investors that they support BTI management’s proposals contained in management’s proxy for the Company’s annual meeting scheduled for today (May 16, 2000). ISS has recommended for the election of BTI’s directors, the approval of a plan to amend the 1997 Equity Incentive Plan and ratification of PricewaterhouseCoopers LLP as the Company’s independent auditors. ISS recommended that investors execute their votes on management’s white proxy card and discard the blue proxy card distributed by Vetrotex CertainTeed Corporation, a wholly-owned subsidiary of Compagnie de Saint Gobain, which is currently engaged in a takeover attempt of BTI.

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NASA charts course to sail to the stars on largest spacecraft ever built

16th May 2000 0 comments

NASA is setting sail for the stars – literally. NASA’s Marshall Space Flight Center in Huntsville, Ala., is developing space sails technology to power a mission beyond our solar system. “This will be humankind’s first planned venture outside our solar system,” said Les Johnson, manager of Interstellar Propulsion Research at the Marshall Center. “This is a stretch goal that is among the most audacious things we’ve ever undertaken.” The interstellar probe will travel over 23 billion miles beyond the edge of the solar system. Proposed for launch in a 2010 time frame, an interstellar probe – or precursor mission, as it’s often called – will be powered by the fastest spacecraft ever flown. Johnson says transportation is quite possibly the toughest challenge with interstellar missions because they have to go so far, so fast. “The difficulty is that rockets need so much fuel that they can’t push their own weight into interstellar space. The best option appears to be space sails, which require no fuel,” he said. Thin, reflective sails could be propelled through space by sunlight, microwave beams or laser beams – just as the wind pushes sailboats on Earth. Rays of light from the Sun would provide tremendous momentum to the gigantic structure. The sail will be the largest spacecraft ever built, spanning 440 yards. Researchers are optimistic about recent breakthroughs with strong, lightweight composite materials. A leading candidate for sails is a carbon fiber material whose density is less than one-tenth ounce per square yard – the equivalent of flattening one raisin to the point that it covers a square yard. In space the material would unfurl like a fan when it’s deployed from an expendable rocket.

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SGL Carbon Optimistic After Q1

16th May 2000 0 comments

The SGL Carbon Group’s consolidated sales in Q1 2000 were, at DM 569 million, 38% up on the previous year’s period. The operating result increased as planned in the first quarter and, at DM 45 million, was 150% up on the weak first quarter of the previous year. The extraordinarily significant improvements in earnings in the Carbon and Graphite and Specialty Graphite Business Areas contrasted with losses in the Corrosion Protection Business Area arising from integration and portfolio adjustment costs and in the Fibers and Composites Business Area from start-up costs for the fiber production facilities and for the high-technology areas of fuel cell components and brake discs. The net income for the quarter amounted to DM 7 million and earnings per share according to DVFA/SG DM 0.66.

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Vanguard Aviation Corp – First Quarter Results

16th May 2000 0 comments

Revenue for the three month period ended March 31, 2000 was $690,807, a 203% increase over revenues of $339,773 reported in the three months ended March 31, 1999. The increase is attributable to increases in demand for Vanguard’s sheet metal, composite and labour services. Gross profit increased to $158,307 in the quarter ended March 31, 2000 compared to $106,406 in the same period in the prior year. The delivery and installation of the composite cure oven and ancillary equipment completes the initial equipping of the composite department. The composite department can now undertake almost any composite repair except for the most advanced. A priority objective for Vanguard in 2000 is to expand its composite business to utilize these new capabilities.

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Compositech Ltd. Reports First Quarter Results

16th May 2000 0 comments

Compositech Ltd. a developer of high tech laminates for the printed circuit board industry, today reported results for the first quarter ended March 31, 2000. Because of the Company’s decision to suspend manufacturing operations in December 1999 and refocus its resources on locating suitable licensees, joint venture partners or purchasers for its patented technology and equipment design, the Company did not record any sales, manufacturing or research and development expense in the first quarter of 2000. Samuel S. Gross, Compositech’s Chief Financial Officer, said “Our operating cash requirement has been reduced to a level of approximately $120,000 a month. We expect further reductions as we pursue our plan of licensing our technology, joint ventures, sale of technology and merger or acquisitions. As part of this program, we are negotiating for additional required funding to satisfy existing liabilities and cover our reduced overhead until sufficient revenues are obtained from licensing programs. Discussions are progressing for potential mergers or acquisitions and related financing and we hope to have announcements on these in the near future.”

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Cincinnati Sentimental Over Pigs

16th May 2000 0 comments

The city that once shunned its Porkopolis nickname and hog-butchering past is turning sentimental about its porcine past. Dozens of artist-designed fiberglass pigs hit the streets this month, in time for the second annual Flying Pig Marathon this Sunday. In all, residents can look forward to 360 fiberglass pigs on the streets, in parks and in building lobbies during the Big Pig Gig art project that runs into October. The pigs will later be auctioned to raise money for arts groups. The idea came from a 1998 public art project in Zurich, Switzerland, which featured more than 800 decorated fiberglass cows. It was mimicked in Chicago last year with “Cows on Parade,” which was scheduled to hit New York City on June 15

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