Polymer Group, Inc. Invests in New Technology To Serve The Wipes Market.Market Leader to Launch New Category of Spinlace[R] Products at IDEA07 CHARLOTTE, N.C. -- Polymer Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :POLGA/POLGB) today announced it will invest in technology to introduce an entirely new category of high performance, cost-effective engineered materials for wipes and other uses. The company will debut its new family of Spinlace[R] fabrics at the International Engineered Fabrics Conference and Expo (IDEA07) in Miami this April. Initially targeting the consumer and industrial wipes markets, the materials will be available later this year. By combining several technologies and processes, including the company's proprietary Apex[TM] process, PGI PGI Protected Geographical Indication PGI Progiciel de Gestion Intégré (French: Enterprise Resource Planning) PGI Phosphoglucose Isomerase PGI Polish Geological Institute (Warsaw, Poland) has developed a new type of nonwoven non·wo·ven adj. Made by a process not involving weaving. Used of textiles. n. Material or a fabric made by a process not involving weaving. material that is stronger, more absorbent absorbent /ab·sor·bent/ (-sor´bent) 1. able to take in, or suck up and incorporate. 2. a tissue structure involved in absorption. 3. a substance that absorbs or promotes absorption. and can incorporate three-dimensional images at lower weights and with a better value proposition than traditional manufacturing methods. PGI is investing in new capabilities combined with initiatives to convert existing equipment at its Benson, North Carolina Benson is a town located in Johnston County, North Carolina. The town lies at the intersection of Interstates 95 and 40. Each year Benson celebrates Mule Days® the 4th Saturday of September. As of the 2000 census, the town had a total population of 2,923. plant to manufacture the high-quality Spinlace[R] materials. "We are committed to serving this industry and continuously investing in new technology to meet the current and future market needs of our customers with innovative new product platforms like Spinlace[R] products," said interim CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. William Hewitt. "As the industry leader in wiping products, the market looks to us to lead innovation. Just as we have done in the past, this technology promises to revolutionize the wipes industry." PGI also will upgrade a pilot line for wipes to further enhance its research and development efforts in this area to better serve customers. "Our Spinlace[R] products bridge the gap between performance and price, specifically in wipers
The Wipers were a punk rock group formed in Portland, Oregon in 1977 by guitarist Greg Sage, drummer Sam Henry and bassist Dave Koupal. applications. It answers a critical market need for high-performing engineered materials that provide a superior solution than the industry has been able to provide in the past," said Mike Hale, vice president and general manager U.S. This investment is consistent with PGI's global focus on technology and research to optimize our value proposition. In addition to wipes, Spinlace[R] materials will be offered in a wide range of other applications. Polymer Group, Inc., one of the world's leading producers of nonwovens, is a global, technology-driven developer, producer and marketer of engineered materials. With the broadest range of process technologies in the nonwovens industry, PGI is a global supplier to leading consumer and industrial product manufacturers. The company operates 21 manufacturing facilities in 9 countries throughout the world. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Except for historical information contained herein, the matters set forth in this press release are forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements speak only as of the date of this release. Important factors that could cause actual results to differ materially from those discussed in such forward-looking statements include: general economic factors including, but not limited to, changes in interest rates, foreign currency translation rates, consumer confidence, trends in disposable income disposable income Portion of an individual's income over which the recipient has complete discretion. To assess disposable income, it is necessary to determine total income, including not only wages and salaries, interest and dividend payments, and business profits, but also , changes in consumer demand for goods produced, and cyclical or other downturns; substantial debt levels and potential inability to maintain sufficient liquidity to finance the company's operations and make necessary capital expenditures; inability to meet existing debt covenants; information and technological advances; changes in environmental laws and regulations; cost and availability of raw materials, labor and natural and other resources and the inability to pass raw material cost increases along to customers; domestic and foreign competition; reliance on major customers and suppliers; risks related to operations in foreign jurisdictions; and delays or difficulties in finding a suitable new chief executive officer. Investors and other readers are directed to consider the risks and uncertainties discussed in documents filed by Polymer Group, Inc. with the Securities and Exchange Commission, including the company's 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. and subsequent Quarterly Reports on Form 10-Q Form 10-Q See 10-Q. . |
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