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Resin Systems Inc. a chemical technology company, announced today that it has entered into a strategic alliance agreement with Creative Pultrusions, Inc., (CPI). In conjunction with Pultrusion Dynamics, RSI’s technical team has conducted a series of product trials over a three-month period using the Company’s proprietary “Version” urethane resin system. CPI has determined that the resin offers many strong advantages over existing products. According to Mr. Joe Sumerak, VP – Technology for CPI, “We are excited about the new level of product performance that can be achieved as well as the processability of the system. We anticipate rapid conversion of several high volume proprietary applications that will benefit from improved toughness and damage tolerance. We also project addressing new applications previously excluded from composite solutions due to the deficiency of traditional pultrusion raw materials”. The agreement, which is effective January 19, 2001, has an initial term of 2 years and calls for CPI to provide Resin with technical assistance in the development of an extended family of Version resins for various processing requirements within the pultrusion industry. This novel family of Version resins will have unique properties such as fire resistance, weather resistance, chemical resistance, etc and will be developed from RSI’s platform Version “G” resin, which was introduced in the fourth quarter of last year. In addition, the agreement provides for the development of unique product applications that benefit from Version’s toughness and strength properties. The sole consideration for CPI’s contribution under the agreement is the grant by Resin of certain time sensitive, product specific marketing exclusives in North America. RSI management considers this agreement to be a key part of its overall strategy to establish the Version system as the standard for the pultrusion industry. CPI operates two manufacturing facilities, including a 160 thousand square foot facility at its corporate headquarters and a second large facility in Roswell, New Mexico. CPI also has a research and development division called Pultrusion Dynamics, which is located in Oakwood Village, Ohio. It counts General Motors and Martin Marietta among its long list of customers. http://www.creativepultrusions.com/Resin also announced that Mr. Harry D. Coffee has joined the company as General Manager of it’s wholly owned U.S. subsidiary, effective January 12, 2001. Mr. Coffee will be based in Cleveland, Ohio, a high priority location for the Company’s entry into the lucrative U.S. marketplace. The new facility in Cleveland will be the headquarters for both U.S. production and sales and was chosen for its proximity to many of the largest end users of resin products. RSI is a chemical technology company, which has developed a line of specialized resins for the production of a broad range of products made from composite materials. www.resinsystemsinc.com
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