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Composites Industry News


Compositech Ltd. Reports Full Year Results

5th April 2000 0 comments

Compositech Ltd., a developer of high tech laminates for the printed circuit board industry, today reported results for the year ended December 31, 1999. Total revenues for the year were $794,988, compared with $414,396 in 1998. The 1999 results reflect a basic change in our corporate strategy,” stated Compositech Chairman and CEO Jonas Medney. “When we suspended manufacturing operations in December 1999 due to a lack of adequate financing, we decided to refocus our resources on locating suitable licensees, joint venture partners or purchasers for our technology. We are also exploring potential mergers and acquisitions or other strategic transactions. We have substantially reduced our overhead and are concentrating on the licensing program that we formally launched this month. 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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Statistical Surveys, Inc. Releases Boating Industry Retail Sales for 1999

5th April 2000 0 comments

Statistical Surveys, Inc. released recreational boating retail unit sales data and rankings for calendar year 1999. Richard DuMont, Vice President of Sales, announced that the marine industry, defined as fiberglass and aluminum boats, minus Personal Water Craft (PWCs), retailed 331,382 new boats in the United States for the full year of 1999. This represents an increase of 5.7 percent over 1998. The data is based on new boat registration information from 43 states, which represent 96% of the total U.S. market. Fiberglass boats (less PWCs) represent 60.6 percent of total boats sold and aluminum boats were 39.4 percent. Brunswick Marine, which competes only in the fiberglass market, led all manufacturers with 11.8 percent of the market. The bulk of that share can be attributed to their popular Bayliner and Sea Ray boat lines. The Top 10 boat builders account for over 53 percent of the highly fragmented boating industry. Statistical Surveys, Inc. reports include over 900 boat manufacturers. Mr. DuMont said that the boating industry’s sales (minus PWCs) increased by 3 percent in 1998, and combined with the 5.7 percent increase in 1999, is sharing in the country’s economic boom. Marine industry prospects for continued growth in 2000 look very good. The Personal Water Craft market retailed 94,308 units in 1999, a decline of 18 percent from 1998. However, this year’s decline was less than in 1998, when sales dropped 28 percent compared to 1997. Bombardier, Inc, maker of Sea-Doo, led the PWC market with 35.4 percent share.

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ATP Announces Delay in Filing Annual Report

5th April 2000 0 comments

Advanced Technical Products, Inc. announced that the filing of its Annual Report will be delayed. As previously announced, the Company has ongoing a review of the books and records of its Alcore subsidiary, and anticipates that the result of such review will be the recording of material adjustments to the Company’s consolidated operating results. The Company now believes that such adjustments may exceed the earnings reported for the first nine months of 1999. The Company also announced changes in its executive management. Garrett L. Dominy, the Company’s Chief Financial Officer, has been appointed by the Board of Directors to assume the additional responsibilities of President and Chief Executive Officer and James S. Carter will continue to serve as Chairman of the Board.

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Manufacturer to Produce Roofing Materials in Danville, Ill

5th April 2000 0 comments

A joint venture between two manufacturers will bring a $50 million production facility and 60 jobs to Danville. Owens Corning, based in Toledo, Ohio, and IKO Industries, based in Canada, will build the world’s largest glass fiber mat factory in Danville. The material will be used to produce commercial and residential roofing shingles. The two companies formed FIBERTEQ LLC through a 50/50 joint venture last fall. FIBERTEQ’s Danville plant will use state-of-the-art technology to manufacture wet-formed glass fiber mat used mainly in the production of asphalt roofing shingles. Yoram Knoop, general manager of Owens Corning Composites Systems Business, said the company will use the additional capacity to support both its own roofing systems business and the demands of outside customers. IKO Industries will use the glass fiber mat produced in Danville to support the expansion of its manufacturing operations and the increased demand for the roofing products in the United States and Canada. The company has plants in Chicago and Franklin, Ohio

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Hexcel agrees to Sell Bellingham Interiors

5th April 2000 0 comments

Hexcel Corporation and Britax International plc today announced that they have entered into a definitive agreement whereby Britax will purchase Hexcel’s Bellingham aircraft interiors business for $116.9 million. The purchase price will be paid in cash. This transaction has resulted from Hexcel’s previously announced strategic review of its Engineered Products business. Hexcel acquired the Bellingham business as part of its 1996 acquisition of Ciba Geigy’s worldwide composites business. The business employs approximately 325 people.

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Malaysian University/US Co to Help Develop Techno-Preneurs

5th April 2000 0 comments

Universiti Teknologi Malaysia (UTM) will enter into a partnership with Rensselaer Polytechnic Institute (RPI) USA to develop an incubator programme relating particularly to the development of techno-preneurs, it was announced today. UTM’s venture will be made through its Business and Advance Technology Centre (BATC). Part of the high technology development they will focus on is composite materials.

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Recycled Solutions For Industry Inc Selects Beta Sites For Resins

5th April 2000 0 comments

Recycled Solutions For Industry (RSI) announced that four North American composite manufacturers have agreed to serve as Beta test sites for the Company’s proprietary “Version” line of environmentally friendly resins. All of the Beta site companies utilize the pultrusion method of composite manufacturing. However, the Company believes its resin systems are applicable in most other composite manufacturing technologies. The four facilities will be producing products with RSI’s resins to finalize manufacturing processes and parameters. In addition, products will be tested to determine specific qualities of strength, weight, durability, impact resistance, etc. The company believes its urethane based resins will deliver superior results in all categories based on testing which it has completed to date. Beta testing will begin in mid-April and continue through May. Testing will be undertaken at Glasforms Inc, Omniglass Ltd, ADS Composites Group and Pultronex.

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Composite Automobile Research Ltd Sells License

5th April 2000 0 comments

Composite Automobile Research, Ltd. through it’s wholly owned subsidiary, World Transport Authority (WTA) announced the sale of the Master License for the country of Costa Rica. The purchaser of the Master License is Greenvolt, Inc., a Delaware corporation. The consideration for the purchase of the Master License is US$800,000 that will be satisfied by the issuance of 7,000,000 common shares of Greenvolt, Inc. In addition to the purchase of the license for Costa Rica, WTA has granted to Greenvolt, for a period of 18 months, an option to expand the license for Costa Rica to include the countries of Nicaragua, Honduras, Guatemala, San Salvador as well as Belize. The terms of the option require Greenvolt Inc. to pay to WTA US$500,000 Cash should they wish to expand the territory beyond the boundaries of Costa Rica, to include all of the above-mentioned countries.

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Owens Corning acquires Conwed Designscape

5th April 2000 0 comments

Owens Corning announced its acquisition of Conwed Designscape, the volume leader in acoustic panels in North America. The acquisition supports Owens Corning’s commitment to establishing a leadership position within the growing, yet fragmented, acoustics market. Conwed primarily produces fabric-wrapped wall panels that help improve sound quality in commercial and institutional settings, such as offices, auditoriums and classrooms. It provides Owens Corning with a strengthened position in the architectural specification community through its sales network and reputation, as well as additional manufacturing capacity. Conwed’s strength is in the customized wrapped panel market, which have both a fiber glass and mineral wool core. Since launching its Acoustic Systems Business in January 1999, Owens Corning has taken a number of steps to increase its share of the acoustics market, which is estimated at $5 billion.

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UK Coastguard called to assist Team Philips composite catamaran On March 29 the Team

5th April 2000 0 comments

Philips crew called Falmouth Coastguard to request assistance after they had noticed problems with the bow of the catamaran during sea trials. The crew reported that the bows were beginning to break up on the hulls and it was later confirmed that the port side bow had broken off although the starboard side remained stable. The catamaran that was designed to beat the world’s fastest ocean racers was towed into St Mary’s after encountering problems over 20 miles north-west of the Scillies. The 120ft-long boat, the world’s largest carbon fibre structure, is now anchored to a buoy, the remains of her shattered port bow supported by giant air bags. Designed to pierce the huge waves of the Southern Ocean waves at over 40 knots, the craft began to break up in winds of 25 knots, just two weeks after the Queen officially named her.

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