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Composites Industry News


Compositech Ltd. Reports Second Quarter Results

18th August 2000 0 comments

Compositech Ltd., a developer of high tech laminates for the printed circuit board industry, reported results for the second quarter ended June 30, 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, the Company did not record any sales, manufacturing or research and development expense in the second quarter of 2000. Net loss for the three months ended June 30, 2000 was $537,676 compared with $2,094,514 for the same 1999 period. Net loss for the six months ended June 30, 2000 was $1,438,606 compared with $3,732,536 for the same period in 1999. “The current year’s results reflect the reduction of overhead resulting from the Company’s business plan to license its technology rather than continue the high cost manufacturing that was done in 1999,” said Samuel S. Gross, Compositech’s Chief Financial Officer. “Further reductions will result from the Company’s recent move to smaller quarters, which are more appropriate for licensing and the development of new products. We expect our operating cash requirement to be well below $100,000 a month,” he added. Mr. Gross also announced, “Our negotiations for the acquisition of The Aeon Group, Inc. have been terminated. Jonas Medney, Chairman and Chief Executive Officer, reported, “We are involved with licensing discussions at several levels: suppliers to the industry, laminate manufacturers and recently an influential Original Equipment Manufacturer which would recommend a license to its supplier.” “We are also expecting a visit from a delegation from mainland China for consideration of their building a plant for our laminate in China. We anticipate further announcements before the end of the year,” he concluded. Compositech Ltd. has developed innovative and superior copper-clad and fiberglass epoxy laminates used to make printed circuit boards, which are essential components of personal computers, workstations, data communications, Internet servers and telecommunications equipment.

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American Flywheel Acquires 58 Percent of Trinity Flywheel Power,

18th August 2000 0 comments

On Wednesday, August 09, Seattle-based American Flywheel Systems Inc. (AFS) announced that it has acquired 58 percent of Livermore-based Trinity Flywheel Power for an undisclosed price and has introduced new capital and management into the company. The company also reported that Trinity is now taking orders for up to 225 kVA (191 kW) super-fast recharge UPS and ride-through systems, with deliveries commencing in 2001. The company believes these are the first flywheel systems that can handle not only initial power anomalies from the utility grid, but systems also capable of protecting the digital economy from rapid successions of both minor and major sags and spikes. Trinity said that this capability is a result of its bore-loaded, composite flywheel rotor and ironless motor generator, which, unlike heavier and slower flywheel systems, can discharge and recharge completely in 10 to 20 seconds. AFS and Trinity President and Chief Operating Officer Joel Levinthal explained: “Our strategy is to occupy the middle ground between sub-low-speed steel flywheels — now around 8,000 rpm — and experimental super-high-speed carbon fiber flywheels — targeted for 90,000- to 100,000-rpm operation. “We operate our composite flywheel at 40,000 rpm, which means we don’t have to push the envelope. Our rotor has also undergone extensive independent safety tests conducted by Test Devices Inc. for the U.S. government that show it operates within a generous and reliable safety margin.”

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AASI Aircraft & Gulfstream Working Together

18th August 2000 0 comments

AASI Aircraft today announced that Gulfstream Aerospace Corporation airplane components were successfully cured in its autoclave. Gulfstream is the world’s premier manufacturer of business jets and is, along with Boeing, AASI’s neighbor on the Long Beach Airport. Long Beach Airport is a major center of the erospace industry. AASI Aircraft Chairman and Chief Executive Officer, Dr. Carl L. Chen, stated, “This exciting news solidly demonstrates that cooperation between Gulfstream and AASI can be beneficial to both fine companies.” Chen added, “We hope that this is only the beginning of a long and advantageous association for both companies.” W. Dale Jackson, Manager, Engineering and Technical Operations at Gulfstream’s Long Beach Service Center, said, “We are very pleased that AASI can accommodate our needs on such short notice. Gulfstream looks forward to a mutually beneficial relationship with AASI.” In May of 2000, AASI installed a state-of-the-art controller and processor to run the autoclave. The large 30 ft. long by 10 ft. diameter computer-controlled autoclave is designed to cure the company’s graphite composite fuselages under nitrogen pressure and heat, and provides for vacuum to eliminate air trapped in the composites. This produces a superior, lightweight and exceptionally strong aircraft fuselage main structure. The autoclave will accommodate the entire JETCRUZER(TM) aircraft fuselage or an entire AASI STRATOCRUZER(TM) Twin Jet fuselage and all components in one cycle.

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Ashland Closes Composite Polymers Plant

18th August 2000 0 comments

The Composite Polymers Division (CPD) of Ashland Specialty Chemical Company is closing its polyester-resin manufacturing plant in Ashtabula, Ohio, effective from Tuesday. Plans to serve the plant’s customers are in place, and no interruptions in supply are expected. Ashland plans to decommission the Ashtabula plant, which employed 32, by the end of the year and make the property available for other uses. “The small size of the Ashtabula facility, the substantial investment needed to make ongoing use of its capabilities, and the proximity of other Ashland polyester resin plants ruled out continuing operations there,” said Mark E. Santangelo, CPD’s manufacturing manager. Manufacturing capacity gained through plant optimization, efficiency improvements and capital investments is expected to be more than adequate to meet current and future customer needs. The division’s other North American manufacturing facilities are located in Neville Island, Pa.; Philadelphia; Los Angeles; Jacksonville, Ark; Bartow, Fla; Kelowna, British Columbia; and Mississauga, Ontario. The Composite Polymers Division of Ashland Specialty Chemical Company is a leader in providing products, processes and composite technologies to the global marketplace for reinforced-plastic composites.

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Nasdaq halts trading of Alyn Corporation

8th August 2000 0 comments

The Nasdaq Stock MarketSM announced that trading was halted in Alyn Corporation last Wednesday, for “additional information requested” from the company at a last price of 5/32. Trading will remain halted until Alyn Corporation has fully satisfied Nasdaq`s request for additional information.

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Thermo Fibergen Announces Second Quarter Results

8th August 2000 0 comments

Thermo Fibergen Inc., a Thermo Electron company, today reported revenues of $1,746,000 for the quarter ended July 1, 2000, compared with $2,253,000 for the same period in 1999. Net income was $141,000 versus $282,000 last year. Our focus throughout the first half of 2000 has been the successful startup of our fiber-based composites manufacturing plant in Green Bay, Wisconsin. Our accomplishments to date include the installation of four manufacturing lines, two of which are currently producing tongue-and-groove boards for siding and fencing applications. We’ve shipped two truckloads of this product, with two more truckloads ready for delivery. We’ve ordered additional equipment that will allow us to expand production to each of the four lines later this year.” 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 also develops, produces, and markets fiber-based composites primarily for the building industry, such as fencing and siding. Thermo Fibergen is a public subsidiary of Thermo Fibertek Inc., another Thermo Electron company.

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Dan Young Joins AERT

8th August 2000 0 comments

Advanced Environmental Recycling Technologies Inc, a leader in wood composite technology, announced that Dan Young has joined the Company as manager of Moulding and Millwork Operations. “Dan is an experienced production professional who will help lead the AERT industrial sales into nationwide distribution,” stated CEO Joe G. Brooks. “AERT has several pending value-added industrial projects and the Company will now be in position to further increase this product category.” Advanced Environmental Recycling Technologies Inc. manufactures a growing line of composite building materials made from recycled polyethylene plastic and waste wood fiber. The Company’s products are marketed under the trade names MoistureShield(R) and ChoiceDek(R) for the North American homebuilding market. AERT currently operates a manufacturing facility in Texas and a recycling and manufacturing facility in Arkansas.

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ATP Reports Second Quarter Results and Announces New Chairman

8th August 2000 0 comments

Advanced Technical Products, Inc., a producer of advanced composite structures and chemical defense products, today reported financial results for the second quarter of 2000. For the purposes of financial reporting, the Company’s Alcore and Alcore Brigantine subsidiaries are treated as discontinued operations. Revenues from continuing operations for the quarter ended June 30, 2000 were $44.71 million compared to $43.11 million for the comparable period in 1999, an increase of $1.6 million or 3.7%. Net income from continuing operations for the second quarter of 2000 was $1.57 million compared to $1.91 million for the same period in 1999, a decrease of $346,000. Revenues from continuing operations for the six months ended June 30, 2000 were $86.07 million compared to $80.01 million for the comparable period in 1999, an increase of $6.06 million or 7.6%. Net income from continuing operations for the six-month period ended June 30, 2000 was $3.29 million compared to $3.0 million for the comparable period in 1999, an increase of $282,000 or 9.4%. Garrett L. Dominy, President and CEO said “Thes results reflect the strength inherent in our core business units which represent ATP’s continuing operations. We are seeing revenue growth in our chemical defense product lines, commercial natural gas vehicle tank business, and several advanced composite product lines, including composite inlet devices for the GE F414-400 turbofan engine, winglets and doors for the C-17, and flap track fairings for the Airbus A330 and A340 aircraft. We look forward to continuing involvement in these high-priority programs.” The Company also announced that James S. Carter retired from the position of Chairman of the Board but will continue in his role as a Board member. The Board of Directors unanimously elected Gary L. Forbes as the new Chairman. Mr. Forbes has served as a director of TPG since its inception in 1995 and continued to serve on the ATP Board after the Lunn/TPG merger in 1997. Mr. Forbes has been a Vice President of Equus Capital Corporation since November of 1991. The Company further announced that General Johnni E. Wilson (Ret. U.S. Army), has accepted a nomination to the ATP Board of Directors. General Wilson is the President and Chief Operating Officer of Dimensions International, Inc., an information technology company. General Wilson retired from the U.S. Army in April of 1999 and his last post was as the Commanding General, U.S. Army Materiel Command. General Wilson’s name will appear on the 2000 proxy as a nominee to the ATP Board of Directors. As previously announced, the Company is in the process of soliciting potential buyers for its Alcore and Alcore Brigantine subsidiaries. The Company has not yet entered into any agreement or arrangement relating to the sale of the subsidiaries. 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 Compay 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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Primix Updates International Growth Events

8th August 2000 0 comments

The Primix Corporation is presently evaluating the many inquires generated by a number of international commerce trading companies. These companies have expressed interest in the international sales of the revolutionary Primix Engineered Composite Railroad Tie. They are also conducting their own internal due diligence investigations of the Primix Tie regarding its impressive qualities and revolutionary engineering design. Each of these international companies has expressed interest in assisting Primix through a possible alliance, joint venture, or partnership arrangement. They are proposing various options including providing financing to initiate the global marketing product launch of the Primix tie, and the distributing of the Primix tie through their many global contacts in the railway industry. Primix president Mr. Marc Shea stated, “We are very encouraged by the interest these international companies have shown in our technology. Some have even invested thousands of dollars to conduct their own investigation of our domestic and international patent status, product viability, and international market interest. I’m also impressed with the size of some of these companies. A few of them are ranked in the top twenty largest business concerns in the world. We anticipate negotiating an agreement with one or more of these companies in the near future. These agreements will provide the financing and infrastructure to initiate the product launch of our tie into the multi-billion dollar international railroad tie market.” In recent independent testing of the Primix tie, findings validated Primix’s own test results proving that the Primix tie is far superior to the wood railroad tie currently available. With the inherent properties in the Primix composite formula providing a theoretical life span of 240 years, combined with the engineering freedom to produce a tie that can meet varying perimeters of strength, size, design, etc., proves that the Primix Tie is a huge leap forward in technology. The Primix tie provides a level of technological advancement that meets the needs of the most advanced rail systems now in use, and can handle the heavier loads that are planned for the 21st century.

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Lynch Too Gruesome for NYC

8th August 2000 0 comments

It seems David Lynch is too gruesome even for New York. The fiberglass cow sculpture created by the director for a public art show is being returned to California without going on display, The New York Times reported Thursday. Lynch, known for the eerie 1990s television drama “Twin Peaks,” chopped off his cow’s head and stuck forks and knives into its back. He also covered parts of the cow with a reddish, blood-like substance. CowParade NYC 2000 features several hundred fiberglass cows decorated by artists and schoolchildren and displayed on sidewalks around the city. Lynch said he was disappointed to be excluded. “Don’t you think when people tell you you’re allowed to do whatever you want as long as it’s not sexually X-rated that they should stand behind their word and show your cow?” Lynch said.

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