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Composites Industry News

News for May 2000


ATK Successfully Completes Second Static Test Firing of Solid Rocket Motor

2nd May 2000 0 comments

ATK (Alliant Techsystems) said Alliant Aerospace Propulsion Company, Magna, Utah, successfully completed the second of three static test firings to qualify a new solid rocket motor for The Boeing Company’s Delta IV Medium-plus family of launch vehicles. The Delta IV vehicles are the latest derivative of the Delta family of rockets that has been lifting satellites into orbit since 1960. The new graphite epoxy motor, known as GEM-60, is designed to provide a lift capacity ranging between 12,890 and 14,475 pounds to geosynchronous transfer orbit (GTO) for the Delta IV Medium-plus family of vehicles. Jeff Foote, president, Alliant Aerospace Propulsion Company, said the new GEM-60 motor performed flawlessly during the second static firing. “The results achieved in the first two test firings indicate that we are squarely on track to qualify this important new solid rocket booster,” said Foote. “The GEM-60 development program has proceeded smoothly and on schedule from the very beginning, thanks to a strong partnership between Boeing and Alliant Aerospace Propulsion Company. We are looking forward to the final static test firing next month and the culmination of a great team effort.” The GEM-60 motors are manufactured at the group’s Utah Composites Center in Clearfield, Utah, and Utah Propulsion Center in Magna, Utah. ATK news and information can be found on the Internet at http://www.atk.com

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Core Materials Reports Increased Sales And Earnings Improvements

2nd May 2000 0 comments

Core Materials Corporation announced results for the first quarter ended March 31, 2000. Net income for the first quarter of 2000 was $822,000, representing a reversal of the losses recorded in the third and fourth quarters of 1999. The improvement in earnings for the first quarter of 2000 is the result of increased sales and operational improvements achieved from the Company’s Profitability Improvement Plan announced late last year. Management has realigned the Company’s manufacturing plants and processes by focusing on continuous improvement in three areas: reducing manufacturing costs, achieving superior customer satisfaction and strengthening the Company’s employee development systems. We have continued to develop the organization by strengthening the management teams both in Columbus and Gaffney in areas such as materials, quality, engineering, human resources and accounting. Both the Columbus and Gaffney operations have continued to show operational improvements over the previous quarters. However, the Gaffney facility continues to operate below expected performance levels. 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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Lotus M250 Coupé In Series Production

9th May 2000 0 comments

Lotus is putting the fabulous M250 coupé into series production, with production expected to start in the early part of 2002. Lotus has turned the sports car market on its head with the production of its new super car at the price of a mid-range saloon car. The announcement to build the M250, of more than 4000 units a year will start in the in 2002 and the sports car will cost approximately £40,000. This approach continues to make Lotus a notable success story amongst UK car manufacturers. The company has been performing well in recent years and over the past five years turnover has more than doubled with profit increasing by over 500% the last two financial years. Similar to the Lotus Elise, the M250 uses the very latest composites technology to keep its weight below 1000kg; enhancing acceleration – 0-60mph in less than 5.0secs, 0-100mph in under 11.0secs – and benefits fuel consumption to rival the Elise which stands at 40 MPG. Top speed of the M250 is limited to 155mph.

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Reinhold Industries Results

9th May 2000 0 comments

Reinhold Industries, Inc. today announced results for the first quarter 2000. The company reported first quarter 2000 revenues of $9.6 million, up 10% from $8.7 million for the first quarter 1999. The acquisition of Samuel Bingham Company on March 9, 2000 added $1.6 million to first quarter 2000 sales. Sales of commercial aircraft seatbacks decreased by $1.0 million (33%) due to ongoing commercial difficulties at B/E Aerospace. Sales in the Aerospace business unit increased by $0.3 million (24%) due mainly to higher sales of rocket nozzles. Sales in all other business units were flat. “We expect mixed results in 2000” said Michael T. Furry, president and CEO of Reinhold. Reinhold Industries, Inc. is a manufacturer of advanced custom composite components, sheet molding compounds, and graphic arts and industrial rollers for a variety of applications in the United States and Europe.

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Boeing’s Kedah Composites JV to Start Producing In Jan 2001

9th May 2000 0 comments

The Boeing Commercial Airplane Group’s composite material parts joint venture in Kedah was expected to roll out its first batch of production by January next year, a Boeing official said. The RM153 million (US$40.2 million) project, undertaken through Asian Composites Manufacturing Sdn Bhd (ACM), is a joint venture between four parties. Besides Boeing, ACM’s other equal share partners (25% each) are Hexcel Corporation of the United States and two local firms, Sime Darby Bhd and Naluri Bhd, the latter a substantial shareholder in Malaysia Airlines

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Angola Signs On With WTA

9th May 2000 0 comments

Composite Automobile Research Ltd announced that it has signed an agreement for the purchase of the Master License for Angola with Servauto Comercio e Servicos Industrials (SARL), of Luanda, Angola, with the factory to be located in suburban Luanda. Servauto will produce the WorldStar vehicle in Angola with Fiat or Volkswagen engines to begin with and diesel engines, as they become available.

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ZCL COMPOSITES INC – Strikes Settlement Agreement with Xerxes

9th May 2000 0 comments

ZCL is pleased to announce that it has entered into a settlement agreement to end the litigation between the Company and Xerxes Corporation of Minneapolis. Under the settlement agreement, ZCL will pay $600,000 USD to Xerxes for certain license rights, liquidated damages, and an option to purchase Xerxes’ global license business. A portion of future royalties from ZCL Enviro Systems in the Philippines will also be paid to Xerxes. ZCL is permitted to sell its Phoenix system anywhere in the world, including the USA, without royalty. ZCL sales of Parabeam fabric remain unrestricted provided they bear a warning that a US patent license may be required for use in underground tanks. ZCL Composites Inc. is Canada’s largest manufacturer of fibreglass underground storage tanks.

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Steven T. Warshaw Appointed President of Hexcel Schwebel

9th May 2000 0 comments

Hexcel Corporation announced that Bill Bennison, President of its Hexcel Schwebel global fabrics business unit will retire at the end of June and be succeeded by Steven T. Warshaw, who joined the company in April. After retiring, Mr. Bennison will remain a senior advisor to the business. Hexcel Schwebel is the leading global supplier of fabrics to the electronic materials and composite reinforcement industries, as well as serving a number of other industrial fabric applications.

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Tender Offer Complete for Johnston Industries, Inc

9th May 2000 0 comments

CGW Southeast Partners IV, L.P. announced that its wholly owned subsidiary, JI Acquisition Corp., has completed its $3.00 per share cash tender offer for all outstanding shares of Johnston Industries, Inc. The offer expired, as scheduled, at midnight, New York City time, on Friday, May 5, 2000. The tendered shares and the shares of Johnston Industries’ common stock that JI Acquisition will purchase at the closing, represent 91.2% of Johnston Industries’ outstanding common stock. Johnston Industries, Inc. 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 for a wide variety of applications

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Denali Announces Proposed $28 Million Investment

9th May 2000 0 comments

Denali Incorporated today announced that it has signed a letter of intent with William Blair Mezzanine Capital Fund in which Blair proposes to invest $28 million in Denali. 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, Texas, 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. For more information on the Company, please visit its Web site at www.denaliincorporated.com.

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