AT Plastics Copolymer Facility Resumes Normal Operation.BRAMPTON, ONTARIO--(BUSINESS WIRE)--July 14, 1999-- (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :ATP ATP: see adenosine triphosphate. ATP in full adenosine triphosphate Organic compound, substrate in many enzyme-catalyzed reactions (see catalysis) in the cells of animals, plants, and microorganisms. .) (AMEX AMEX See: American Stock Exchange :ATJ ATJ Association of Teachers of Japanese ATJ According to Jim (Jim Belushi TV show) ATJ Access Technology Japan (Japanese IT recruiting company) ) AT Plastics Inc. reported today that it has resolved start-up difficulties associated with its new copolymer copolymer: see polymer. production facility in Edmonton, Alberta. While the new facility has been achieving quality standards, mechanical and electrical difficulties prevented it from meeting production targets, particularly in April and May. In addition, the Company took the facility out of production for 11 days to permit a thorough inspection and process adjustments. Following the 11-day inspection, normal operation of the facility ensued and the utilization rate for the five-week period ended July 2 averaged 94.5 per cent, compared to a target of 90.0 per cent for the second half of 1999. As a result of these factors, combined with higher depreciation and interest costs associated with AT Plastics' expansion program, the Company expects that second quarter earnings will show little or no improvement over the first quarter. Results are to be released on July 29, 1999. Geoff Clarke, Chairman and Chief Executive Officer of AT Plastics, said that capacity at the new copolymers facility is being progressively increased and demand for the Company's products continues to exceed current output. "We look forward to improved performance in our Polymers business in the second half of 1999," Mr. Clarke said. "As output from the new plant increases, we expect to expand the percentage of higher-margin specialty offerings in our product mix," he continued. Mr. Clarke also mentioned that sales in the Films & Packaging division continue to increase and the Company expects strong performance for this business in 1999. About the Company AT Plastics develops and manufactures specialty plastics raw materials and fabricated products. The Company operates in specialized markets where its product development and process engineering have allowed it to develop proprietary and patented technologies, and to establish international niche market positions. AT Plastics' shares are listed on The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. , under the trading symbol "ATP", and on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. , under the trading symbol "ATJ." |
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