AMCOL INTERNATIONAL'S NANOCOR SUBSIDIARY CONSIDERS MISSISSIPPI AS SITE FOR PRODUCTION FACILITY.ARLINGTON HEIGHTS Arlington Heights, village (1990 pop. 75,460), Cook county, NE Ill., a residential suburb of Chicago; founded 1836, inc. 1887. Its manufactures include machinery, drugs and medical equipment, and metal fabrication. Arlington Park racetrack is there. , Ill.--(BUSINESS WIRE)--Oct. 2, 1996-- Nanocor, Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of AMCOL International Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ACOL ACOL Abortion Clinics OnLine ACOL Advisory Committee for Online Learning (Canada) ACOL AIDS Committee of London (Ontario, Canada) ACOL Air Combat On-Line (US Navy) ), is conducting an intensive feasibility study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. on locating its first commercial-scale production facility in Aberdeen, Miss. Nanocor was formed in August 1995 to capitalize on a proprietary, patented technology for dispersing nanoscale particles of chemically-modified clays into plastic resins, improving strength, heat stability and barrier properties. The company currently operates a pilot plant in Georgia, and expects to commercialize its technology during the course of 1997. Nanocor President Peter Maul said Nanocor's first commercial facility is to have an eventual nameplate capacity of approximately 40 million pounds, or 20 thousands tons, annually. As part of the Aberdeen site study, Nanocor is relocating its pilot plant operation from Georgia to Mississippi, pending regulatory approval. The site being considered in Aberdeen formerly housed an acid-activated clay processing operation owned by American Colloid colloid (kŏl`oid) [Gr.,=gluelike], a mixture in which one substance is divided into minute particles (called colloidal particles) and dispersed throughout a second substance. Co., another AMCOL International subsidiary. American Colloid Co. sold its acid- activated clay business last spring, and has retained the physical plant assets despite closing the Aberdeen facility in July. AMCOL President and Chief Executive Officer John Hughes said, ``We're pleased to have found a potential use for these now idled facilities, and to be in the position to consider bringing yet another high-tech industry to an area that has proved so hospitable to our Chemdal specialty polymer operation.'' Maul said, ``We've reviewed a number of potential sites, and Aberdeen is attractive for several reasons. AMCOL has enjoyed a long association with the city, and the business climate in Mississippi has historically been favorable. The site we are considering offers both the infrastructure and real estate to facilitate Nanocor's ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale from pilot plant to commercial scale operation. Aberdeen is well situated to serve Nanocor's market. In addition, Nanocor's commercial operations will require a skilled labor pool, which we believe the Aberdeen area could provide.'' Nanocor previously announced plans to spend approximately $3 million on research activities and business development during 1996. Maul said the Aberdeen study would not have a meaningful impact on those expenditures. Nanocor's parent, AMCOL International Corp., is a specialty chemical and mineral company that produces and markets primarily liquid-absorbing products for a wide range of industrial and consumer-related markets. AMCOL's common stock is traded on The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol ACOL. CONTACT: AMCOL International Jodi Warner manager of corporate communications/investor relations 847-394-8730 |
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