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For further details see our joint press release.
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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