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Composites Industry News

News for April 2000


CGW Agrees to Buy Johnston Industries, Inc

5th April 2000 0 comments

CGW Southeast Partners IV and Johnston Industries, Inc. today jointly announced the signing of a definitive purchase agreement whereby CGW will acquire up to 100 percent of the outstanding shares of Johnston common stock. As a result of the transaction, Johnston will become a subsidiary of CGW. CGW, headquartered in Atlanta, Georgia, is a Delaware limited partnership organized to make strategic investments in distribution and manufacturing businesses throughout the United States. Johnston Industries, Inc. manufactures and markets engineered textile products primarily for industrial and home furnishings end uses. One of its subsidiaries, Johnston Industries Composite Reinforcements Inc., makes Vectorply(R)and other sophisticated non-crimp multiaxial reinforcing fabrics from fiberglass, carbon and aramid fibers used in a wide variety of applications.

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Toronto to Lure Tourists with Fiberglass Moose

5th April 2000 0 comments

Toronto is bracing for a fake moose invasion. Hundreds of moose — life-sized, painted fiberglass models — will take to the city’s streets this summer in a campaign to lure tourists and raise money for charity. Sponsors will pay $4,450 for each moose, or $20,700 for a herd of four, Mayor Mel Lastman said as the campaign was launched Wednesday. He said he expects the total fake moose population to reach 400, raising more than $2 million for charity and the Canadian Olympics Foundation. Organizers say the animal model idea worked in Chicago, where life-sized cow models helped attract 2 million more tourists last summer compared to the previous year. The additional visitors generated an extra $135 million for the local economy.

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Penda Announces Definitive Sale Agreement

5th April 2000 0 comments

Penda Corporation announced today a definitive Agreement for the sale of the company to a group led by William Blair Capital Partners along with co-investors, Wind Point Partners and Norwest Equity Partners. Penda is the nation’s largest manufacturer and marketer of pick-up truck bedliners, serving both the original equipment and automotive aftermarkets. Penda also manufactures a full-line of truck accessories including soft and hard tonneau covers, step boards, tie-downs, and bedmats. Penda’s subsidiaries, Penda Glasstite, Inc. and Tri-Glas Industries manufacture premium fiberglass truck caps, running boards and hard tonneau covers. The current management team at Penda will remain in place following the new Agreement, which will allow Penda to have access to additional equity.

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Superyacht failure down to bad bonds

12th April 2000 0 comments

Tests on the hull of Pete Goss’s giant catamaran have revealed why the vessel’s bow snapped off just two weeks after launch. Exclusive access to information that identifies particular production problems ends speculation that the calamity was caused by a design flaw. Team Philips ran into trouble off the Isles of Scilly when a 40ft section of bow broke off during sea trials in the Atlantic. Experts now say the break-up was caused by the £4m boat’s carbon fibre skin of the main load-bearing area failing to bond with its honeycomb paper core. The flaw in the production process left the two massive hulls inherently fragile, the weakness running the entire length of the 120ft vessel. Although the craft was designed to cruise through the waves at more than 40 knots, it broke up in winds of 25 knots, only two weeks after the Queen officially named her. Goss now faces an expensive repair bill to correct the problem, but its designers have been reassured that had the boat, the biggest carbon fibre vessel in the world, been built to its optimum strength the structure would have worked. It is hoped that the vessel, which was towed to Dartmouth after it sustained the damage, can be repaired in time to enter a round-the-world yacht race beginning in December

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Belgian Co Plans Fishing Boat Manufacturing Venture in Pakistan

12th April 2000 0 comments

A Belgian company plans to manufacture and up-grade fishing boats in a joint venture with its local Pakistan partners. “We will enter into business in phases, first by taking up the job of up-grading fishing boats which will start from September this year and later go into manufacturing,” said the representative of Belgium company, Alain Kinard while briefing newsmen at a lunch given in honour of two-member business team from Walloon Region of Belgium by the Trade Commissioner of Belgium, Abid Husain at a local hotel here. He said that his company, which specialises in composite technology, will manufacture fibreglass boats of 25 meters and thereafter go into production of luxury boats. Responding to a question, he said that they had already selected a site near Korangi Fish Harbour and initially planned to set up facilities that could up-grade around 10 boats a month.

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Cyclic Thermoplastics Firm

12th April 2000 0 comments

Cyclics Corp expects to nearly double soon with the acquisition of Clifton Park-based Global Composites, which will help it make test products. The company develops cyclic thermoplastics, which combined advantages of two other plastics: one’s flexibility and the other’s ability to be mixed in strong, durable composite materials. Cyclics now employs seven at the University at Albany’s East Campus in East Greenbush. The partners are hoping to see their first sales next year, but are looking for more angels to get them through the next eight months or so.

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LTV Corporation Acquires Building Panel Manufacturer

12th April 2000 0 comments

The LTV Corporation today announced the acquisition of Graham FRP Composites Limited, an Ontario (Canada) corporation. Graham FRP, located near Toronto, is a leading manufacturer of resin-based continuous process fiberglass reinforced polymer composite wall and roof panels for the construction industry. The acquisition will position LTV and its subsidiary VP Buildings, as the leading producer of building panels for the North American construction industry. VP Buildings is one of the nation’s largest producers of pre-engineered, non-residential, low-rise steel buildings for manufacturing, warehousing, school and commercial applications. Graham FRP Composites Limited manufactures architectural stone facade panels for commercial and industrial exteriors; corrosion-proof cladding, glazing and roof decking product for corrosive, industrial environments; and flat wall and ceiling liners for sanitary requirements in food processing, hospitals, dairies, washrooms, truck trailers, refrigeration, clean rooms, modular portable structures and agricultural applications. 1999 sales were approximately $7 million (U.S.).

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Michael H. Thaman Named CFO of Owens Corning

12th April 2000 0 comments

Michael H. Thaman, has been named Chief Financial Officer for Owens Corning, according to Glen H. Hiner, Chairman and CEO of the Toledo-based firm with annual sales more than $5 billion. Owens Corning is a world leader in building materials systems and composites systems. The company employs approximately 20,000 people worldwide. For more information, please visit Owens Corning’s Web site at www.owenscorning.com

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Major Automaker Powers WorldStar

12th April 2000 0 comments

Composite Automobile Research Ltd. through it’s wholly owned subsidiary, World Transport Authority Inc. (WTA) is pleased to announce that it has signed an agreement with Fiat through “Zastava Automobili,” a major international distributor of Fiat’s 1300 and 1400 series engines and power-trains. WTA has been granted Original Equipment Manufacturers (OEM) “Private Label” status in regards to the 1300-1400 series engine and power train, for utilization in its WorldStar(R) vehicle throughout the world. At WTA’s R&D center engineers have retrofitted the engine to meet WorldStar(R) specifications, as well a special cradle specifically designed and fabricated to house the Fiat engine for the WorldStar(R). All of the aforementioned have now been thoroughly tested and are now ready for implementation for the WorldStar vehicle. Fiat is considered a principal global carmaker and has developed maintenance infrastructure throughout many parts of the world. They are known for reliable, innovative, technology derived automobiles. Fiat has a primary presence in South America where WTA is expanding rapidly through its affiliation with WorldStar Paez. 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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Composite Solutions Secures Exclusive Representation In Korea

12th April 2000 0 comments

Composite Solutions, Inc. announced that it has entered into an agreement with a Korean company that will exclusively represent CSI’s retrofit and repair technologies to the Korean market for use in strengthening deficient structures. The new enterprise, called Composite Solutions Korea (CSK), will market CSI’s specialty engineering services to the growing number of construction and engineering companies in Korea involved in the retrofit/repair industry. CSI’s expertise in material system selection and engineering design ultimately will be offered to other countries in Asia. CSK, based in Seoul, also intends to develop the market for CSI’s Composite Shell System (CSS) in new construction. With the shell system, composite molds are used as lightweight, high-strength building supports enabling innovative designs, including a reduction in column size and the elimination of internal steel rebar cages. CSS technology will be used to improve new construction quality and allow the construction of taller, lighter structures. Composite Solutions (www.CompositeSolutionsInc.com), based in San Diego, provides a comprehensive solution to retrofitting of buildings, bridges and other structures using advanced composite overlay materials.

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