Applied Extrusion Technologies, Inc. Experiencing Manufacturing Problems.BOSTON--(BUSINESS WIRE)--March 19, 1997--Applied Extrusion Technologies, Inc. (Nasdaq NMS-AETC) today announced that the Company is experiencing manufacturing problems at its primary production facility in Terre Haute, Indiana Terre Haute (IPA: [ˌtɛ·ɹə ˈhoʊt]) is a city in Vigo County, Indiana near the state's western border with Illinois. . The Company expects to achieve its revenue goal for the quarter, and customer deliveries will not be affected due in part to the fact that the Company produced sufficient inventories during the first fiscal quarter. Manufacturing and maintenance costs, however, will be significantly higher than plan as a result of the current manufacturing difficulties which are expected to last for at least several weeks. Demand for oriented o·ri·ent n. 1. Orient The countries of Asia, especially of eastern Asia. 2. a. The luster characteristic of a pearl of high quality. b. A pearl having exceptional luster. 3. polypropylene polypropylene (pŏl'ēprō`pəlēn), plastic noted for its light weight, being less dense than water; it is a polymer of propylene. It resists moisture, oils, and solvents. films remains strong and the Company expects to achieve its revenue goals for both the third and fourth fiscal quarters. Applied Extrusion Technologies, Inc. is a leading developer and manufacturer of highly specialized plastic films used primarily in consumer product labeling, flexible packaging and health care applications. Through its technological innovations, AET AET Aetna, Inc. AET After Extra Time AET Actual Evapotranspiration AET Alliance for Environmental Technology AET Alpha-Ethyltryptamine AET Applied Extrusion Technologies, Inc. is a leader in the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. oriented polypropylene and apertured films markets. Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties, including the timely development and acceptance of new products, fluctuations in raw materials prices, the loss of one or more significant customers, the impact of competitive products and pricing, the timely completion of capital projects, the success of the Company's efforts to expand into new markets and other risks detailed in the Company's prospectuses dated August 16, 1995 and May 20, 1994, its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended September 30, 1996 and from time to time in the Company's other reports filed with the Securities and Exchange Commission. CONTACT: Anthony J. Allott Vice President and Chief Financial Officer 508/538-1516 |
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