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Composites Industry News


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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Air France Concordes to Stay on the Ground

8th August 2000 0 comments

France said on Thursday its fleet of Concordes would stay grounded for now in the absence of any certainty about why one of the supersonic airliners crashed in flames last week, killing 113 people. Investigators confirmed a USA Today report that debris from fiberglass water deflectors, used to reduce spray from tires on wet runways, had been found on the tarmac where the plane took off, but appeared to play down the significance. The newspaper said investigators were examining whether the deflector flew off and punctured a fuel tank, sparking the massive fire that trailed from the plane as it took off and then plunged into a hotel near the town of Gonesse. “I don’t know why it is suddenly such a scoop,” Paul-Louis Arsanian, head of the French Accident Investigation Bureau (BEA), told reporters. “It is not THE element of the inquiry. It is one of the elements of the inquiry,” he said. Air France (AIRF.PA) said in a statement it had not carried out modifications to the water deflector after an earlier incident involving a British Airways (BAY.L) Concorde. It said the changes, made by BA, were not obligatory in France. A BA spokeswoman said the firm introduced the modification in 1995, after an inquiry revealed that a water deflector had broken off and ruptured underwing fuel tanks when a tyre on a BA Concorde burst in 1993. “The modification meant the water deflector could no longer come away from the main deflector in the event of a tyre burst,” the spokeswoman said. Concorde flight AF 4590 caught fire as it took off from Roissy-Charles de Gaulle outside Paris on July 25 with a party of mostly German tourists on their way to New York. All 109 people on board the sleek, drop-nosed jet and four persons on the ground were killed in the crash. Investigators say they now know that one, possibly two, tires burst; there was an intense fire caused by a major fuel leak; the flight crew could not retract the landing gear; and there were problems with two of the four engines. But the Transport Ministry said it was still not clear what exactly went wrong and in what order. USA Today said the water deflector, also known as a “cow catcher,” had been linked to a fuel tank leak in 1993 when the part flew off after a tyre exploded on a British Airways Concorde, causing a severe puncture in a tank. Air France said British Airways had modified the deflectors on its Concordes in 1995 but that it had not done the same. The modification was not obligatory under French civil aviation rules, the carrier said in a statement. It said the modification would not stop the deflectors, which weigh less than five kilos (11 pounds), from coming away from the undercarriage in the event of a sudden impact. “It simply guarantees that (the deflector) will stay in one piece in the event that it comes loose after an impact,” Air France said. The British Airways spokeswoman appeared to contradict this, saying that the alteration, devised by French aeronautical firm Aerospatiale, meant that even if the deflector shattered, a cable kept it attached to the main arm of the undercarriage. “The cable holds the deflector together,” she said, adding that since 1995, the fiberglass deflector had never broken off.

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Denali Increases Short-term Financial Flexibility

8th August 2000 0 comments

Denali Incorporated announced that it has completed the sale of $1.4 million in private equity in the form of 700,000 shares of common stock at $2.00 per share to two of its founding directors. Denali also announced that it has obtained an extension on the agreement of its U.S. bank facility lenders not to enforce their remedies against the company through Sept. 30, 2000, for the company’s ongoing financial covenant defaults and for the company’s failure to make required principal payments due under the facility on June 30, 2000. In addition, the bank group has agreed to expand the company’s revolving line of credit from $25 million to $27 million through Sept. 30, 2000. “We are gratified to receive this support and expression of onfidencefrom our two founding directors, as well as from our lenders,” stated Richard W. Volk, Denali’s chairman and CEO. “This additional funding improves our financial flexibility to complete the company’s recapitalization and provides additional working capital to pursue opportunities and build shareholder value.” Denali Incorporated, is a global provider of fluid handling products specializing in corrosion-resistant applications in process industries such as: chemical, power, pulp and paper, petroleum equipment and water/wastewater. The company manufactures engineered fiberglass-composite tanks, vessels and piping systems, as well as steel, aboveground storage tanks. The company also distributes a wide range of engineered products and systems. Headquartered in Houston, Denali Incorporated has over 20 manufacturing facilities in the United States, the Netherlands, Germany, the United Kingdom, Poland, France and Chile and joint ventures in Venezuela and Thailand.

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New Generation Of Anodizing

8th August 2000 0 comments

Microplasmic Corporation, a start-up research and development company, has developed a unique ceramic coating technology called the Microplasmic Process, for which a U.S.A. patent is pending. The Microplasmic Process creates a thick ceramic coating which exhibits excellent resistance to wear, heat and chemical corrosion. Additionally, the coating acts as an electrical insulator. It is environmentally sound, quick, totally different and far superior to current hard anodizing processes. Light and inexpensive aluminum and magnesium coated with the Microplasmic Process can replace heavier steel or more expensive composite materials required by many manufacturing industries – including transportation, process, electronic, chemical, sports and others. “The Microplasmic Process utilizes electrochemical micro arc oxidation to produce extremely hard ceramic coating,” states Jerry Patel, President & CEO, Any desired coating thickness can be achieved with all aluminum and magnesium alloys. Furthermore, speedy production, inexpensive equipment, economy of raw materials and total environmental safety makes the Microplasmic Process an attractive and commercially viable business.”

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Core Materials Reports Results for Second Quarter 2000

8th August 2000 0 comments

Core Materials Corporation (Amex: CME) announced results for the second quarter ended June 30, 2000. Net income for the second quarter of 2000 was $415,000, an increase of $265,000, or 177%, over the earnings for the second quarter of 1999 of $150,000. Net sales for the three months ended June 30, 2000, totaled $23,207,000, down 4%, from the $24,236,000 for the same period a year-ago. Core Materials has approximately $20 million of operating tax loss carryforwards that are available to offset income taxes on future earnings. These tax loss carryforwards do not begin to expire until the year 2007. The second quarter also saw Core Materials announce an agreement with Lear Corporation, one of the world’s largest Tier I automotive suppliers, to supply sheet molding composite (SMC) products for three new sport utility/pick up truck models to be introduced by an automotive original equipment manufacturer. Core Materials will produce SMC seat bottoms and seat backs for these vehicles. The products manufactured by Core Materials will be shipped to Lear Corporation, which will produce full seat assemblies for the automotive original equipment manufacturer. As announced earlier, Core Materials’ estimated revenues, based on planning volumes released by the automotive original equipment manufacturer and Lear Corporation, would approach $25 million annually at peak levels; however, volumes are not guaranteed. Production of two of the models is expected to begin in early 2001 with the third model starting later that year. “This represents a major piece of new business for Core Materials as it enables us to aggressively compete for market share in the structural end of the automotive market and strategically diversify our customer base,” said James L. Simonton, president and chief executive officer, Core Materials. “This will be particularly important for the company as we work to offset the expected continued softness in the heavy truck manufacturing market.” Core Materials also announced that it had completed its review of production facility alternatives during the second quarter and will integrate the manufacture of the Lear parts at its existing manufacturing facilities, enabling the company to make greater utilization of its current capacity. Core Materials Corporation is a compounder and compression molder of sheet molding composites (SMC). The company produces high quality fiberglass reinforced, molded products and SMC materials for varied markets, including transportation, marine, agricultural and commercial products. Core Materials, with its headquarters in Columbus, Ohio, operates plants in Columbus and Gaffney, South Carolina.

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Composite Rotor Sues Beckman Coulter for Patent Infringement

8th August 2000 0 comments

Composite Rotor, Inc., an industry leader in the manufacture of rotors for use in laboratory centrifuges, has filed a complaint for patent infringement against Beckman Coulter, Inc. in the United States District Court for the Northern District of California in San Jose. Composite Rotor specializes in the design and manufacture of centrifuges made of composite materials, similar to the materials used in the aerospace industry. Composite material centrifuge rotors are stronger and lighter than the metal rotors they replace, reducing acceleration and deceleration times of the centrifugation process, reduces the load, and wear and tear, on the centrifuge and reduces centrifuge damage in the event of rotor failure. In addition, composite materials in centrifuge rotors resist corrosion from many solvents used in centrifugation better than other rotor materials. Composite Rotor holds several patents covering the use of composite materials in centrifuges. Composite Rotor has sued Beckman for infringing two of Composite Rotor’s patents, U.S. Patent Nos. 5,382,219 and 5,562,582. “We have been attempting to resolve this matter informally with Beckman, but after Beckman ignored our correspondence for months on end it became apparent that Beckman was not participating in those discussions in good faith,” said Composite Rotor CEO Gus Malek-Madani. “As a result, we have been forced to resort to using the courts to protect our intellectual property.” Composite Rotor Inc. was founded in 1990 to design, manufacture and market rotors, the key component used in centrifuges. CRI has established its brand of advanced centrifuge rotors KOMPspin(R), as a technologically leading product in the research laboratory market replacing aluminum and titanium rotors. Later the company applied carbon fiber composite technology and advanced centrifuge system technologies to a series of table-top centrifuges. The core technology of the company revolves around applications of aerospace composite structural material and techniques to centrifuge rotors as well as the latest advancements in centrifuge drive systems.

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