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Composites Industry News


Core Materials Corporation Announces New Relationship With Lear Corporation

6th June 2000 0 comments

Core Materials Corporation announced that it has reached an agreement with Lear Corporation, one of the world’s largest automotive suppliers, to supply sheet molding composite (SMC) products for three new sport utility/ pick up truck models. This agreement with Lear, a Tier I automotive supplier, includes manufacturing of fiberglass reinforced molded products to be used on three new hybrid 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. 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 is 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 expand our customer base,” said James L. Simonton, president and chief executive officer, Core Materials. “We’re very excited about entering this new market and working with an industry giant such as Lear Corporation.” The Lear agreement is further proof of the automotive and trucking industry’s acceptance of SMC. “SMC is an ideal material for this type of structural application,” Simonton said. “Its high strength-to-weight ratio and flexible design features contribute to the SUV’s overall innovative design features and decreased weight.”

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Owens Corning Chooses Requisite Technology for E-Content Management

30th May 2000 0 comments

Requisite Technology Inc.(tm), a leading provider of e-content management solutions, has added Owens Corning to the roster of buying organizations that use Requisite’s content management tools and services. Requisite will create a unified catalog of preferred products and suppliers for Owens Corning to include key vendors plus content from Requisite’s supplier partners in office products, computer systems, industrial supplies, paper products and other non-production goods. Owens Corning, an SAP client, is a world leader in building material systems and composites. The $5 billion company, based in Toledo, Ohio, employs more than 20,000 people in manufacturing, sales and research facilities in more than 30 countries on six continents.

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Empiric Energy Inc – Daedalus Filing Resubmitted to SEC

30th May 2000 0 comments

James J. Ling, Chairman and CEO of Empiric Energy, Inc. announced that Empiric Energy and Daedalus Systems, Inc. have resubmitted to the Securities and Exchange Commission an SB-2 to register Daedalus shares for the impending Empiric dividend distribution to Empiric shareholders. Daedalus holds licensed, award-winning technology to construct low-cost, composite structures with building panels made from recycled plastics to alleviate two of the world’s intractable and growing population-related problems: disposal of plastic waste and the vast world homeless population for whom there is a critical shortage of adequate shelter and low-cost housing.

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The Budd Company Acquires Stahl Specialty Company

30th May 2000 0 comments

The Budd Company announced today that it has acquired Stahl Specialty Company, one of the largest privately owned aluminum foundries in the country. Budd produces components such as doors, fenders, roofs, hoods, and decklids in sheet metal as well as in sheet molded composite (SMC), and gray iron and ductile iron castings for about 100 current vehicle models. Budd also makes prototypes, chassis frames and subframes, bumpers and bumper reinforcements, cold weather starting and heating products, and air bag components for the automotive industry.

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India, Ukraine Sign Scientific Cooperation Agreement

30th May 2000 0 comments

India and Ukraine have signed an agreement on long-term cooperation in advanced science and technology to further joint research in lasers, semiconductors, biomedicine and material science. An agreement to this effect was signed in the Ukrainian capital Kiev by V S Ramamurthy, Secretary, Department of Science and Technology and Ukrainian first Deputy Minister of Education and Science Yaroslav Yatskiv yesterday. Indian Ambassador to Ukraine V B Soni said that development of new, composite and super-hard materials was identified as one of the areas of bilateral cooperation.

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US Plastic Lumber Announces New Patent Covering Composite Technology

30th May 2000 0 comments

US Plastic Lumber Corporation announced that broad patent coverage has been approved for their new and improved extruded wood polymer composite and method of manufacture. This patent covers both process and composition and encompasses both USPL’s SmartDeck(R) brand of composite decking as well as its OEM manufactured composite material parts. “We are very pleased that the U.S. Patent and Trademark Office has recognized the important technical innovations represented by this patent,” stated Mike Dahl, vice president of engineered products for U.S. Plastic Lumber Ltd., a wholly owned subsidiary of U.S. Plastic Lumber Corp. and the manufacturer of SmartDeck(R) and the OEM products covered in the patents. “Our patent rights broadly cover several key features that will give us long term market advantages in terms of economics and performance for USPL. We will leverage our novel approach to composite processing to carve out a significant and unique piece of the exploding composite market.” SmartDeck(R) is an advanced composite of wood fiber and recycled plastic, making it extremely durable, moisture resistant, and low maintenance, while at the same time providing the look and feel of natural wood. SmartDeck(R) will not splinter or show the typical effects that moisture has on natural wood. USPL also caters to the OEM sector by manufacturing composite parts made from this same process for such end-market industries as spa, door and window, and consumer products. USPL is the leading producer of plastic lumber and plastic specialty products made entirely from recycled material.

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Composite Automobile Research Ltd – WTA Asian Appointment

30th May 2000 0 comments

Composite Automobile Research Ltd announced that John Tidy has been appointed to the position of Vice-President Asian Operations, and that it has entered into a Letter of Agreement with SIGWA Motors of Lagos, Nigeria regarding the purchase of the Master License for the country of Nigeria. Composite Automobile Research Ltd. and World Transport Authority Inc. serve the emerging world’s transportation needs through in country manufacturing facilities, utilizing local semi-skilled labor to produce the WorldStar(R)line of utility vehicles.

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New Company to Focus on Polymer and Composites Businesses

30th May 2000 0 comments

Three business executives from the Midwest have started a new equity venture, NEXTEP Equity Partners, LLC, with sponsorship from The CIT Group/Equity Investments, the principal investment arm of The CIT Group. T. Dan Clark, with Shell Chemical and Dexter experience, B. Peter Rohman, with Owens Corning experience, and Robert H. Jackson, a lawyer with significant deal-making experience, will assist companies seeking a buyout or recapitalization. The group is targeting businesses positioned for growth in the polymer, specialty chemical and composites sectors. “This is an excellent time to be looking for opportunities in the small to mid-cap market,” Dan Clark, a managing partner of NEXTEP, said. ” We are looking for companies with sales in the $25 to $100 million range with strong management teams and a history of investing in proprietary technology.”

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TSET, Inc. Announces Intent to Acquire American Composites Technology, Inc

30th May 2000 0 comments

TSET has signed a letter of intent on May 22, 2000 regarding the main terms for the acquisition of American Composites Technology, Inc. (“ACT”), in exchange for shares of the TSET’s common stock. It is anticipated that TSET will provide initial working capital for ACT and business development activities in global markets. ACT is in the business of developing an array of industrial testing applications, protocols, and equipment solutions employing advanced thermal imaging equipment and techniques for the non-destructive testing of a variety of structures and products that use composite materials and laminates. Seismic strengthening / retrofitting and bomb blast hardening of reinforced concrete structures is one area of particular application of composite materials and laminates that ACT is pursuing. A recent bomb blast test of two reinforced concrete bunkers in White Sands, New Mexico took place in which one bunker was completely retrofitted with carbon fiber reinforced polymer (CFRP) composite materials and epoxy resins. Both concrete bunkers were subject to the detonation of one pallet of C-4 explosives. The explosion destroyed one of the bunkers, while the bunker retrofitted with CFRP remained structural intact. Potential applications for ACT’s testing technology are found in a variety of markets, including: aerospace and military, commercial and general aviation, new construction and seismic retrofitting of reinforced concrete structures, maritime applications, sports equipment, automotive industry, U.S. government facilities for bomb blast protection, aqueducts and related water supply systems, utilities, chemical and petroleum facilities, bridges, highways, tunnels.

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JPS Industries Reports Significantly Improved Net Income for Second Quarter

30th May 2000 0 comments

JPS Industries, Inc. announced results for the second quarter ended April 29, 2000. Net income rose to $1.6 million, compared with a net loss of $26.3 million in the second quarter of fiscal 1999. Commenting on the results, JPS Chairman, President and Chief Executive Officer Michael L. Fulbright said, “We are very pleased with these results and gratified to deliver solid improvement for the third consecutive quarter. While each of our three divisions remain in highly competitive and challenging markets, their performance through six months give us confidence that we will continue to deliver against our plan and show improving quarterly results over the remaining two quarters of fiscal 2000.” JPS Industries, Inc. is a major U.S. manufacturer of extruded urethanes, polypropylenes and mechanically formed glass substrates for specialty industrial applications, and apparel fabrics. JPS specialty industrial products are used in a wide range of applications, including: commercial and institutional roofing; reservoir and landfill liners and covers; printed circuit boards; advanced composite materials; tarpaulins; awnings; tile backings; security glazing; athletic shoes; and medical, automotive and industrial components.

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