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QUADRAX CORPORATION EXPECTS FIRST PROFITS IN 1994

 PORTSMOUTH, R.I., May 27 /PRNewswire/ -- Quadrax Corporation (NASDAQ: QDRX), a leader in the development and commercialization of high-performance thermoplastic composite materials, "expects to report in 1994 its first profits since its founding in 1986," Richard A. Fisher, chairman and chief executive officer, told shareholders a the company's annual meeting today, "although Quadrax will incur a loss for 1993," he added.
 Mr. Fisher said, "We have invested more than $10 million in research and development of composite thermoplastics in the last seven years and have conducted extensive materials qualifications for a number of high- profile projects. These include the Lockhead F-22, the next generation Advanced Tactical Fighter aircraft; the Seawolf submarine built by General Dynamics; and Boeing's new Super 747 airliner. We are now poised to commence shipments which will generate an acceleration of revenues in 1994 and produce our first operating profit since our founding.
 "In addition to aerospace and defense applications, we are now concentrating our efforts on dual uses of thermoplastic composites primarily in the burgeoning sporting goods industry and other industrial applications."
 Stockholders represented at the meeting also elected to the board of directors Robert Eng, founder and president of Balances, Inc., registered investment advisers; Richard A. Fisher, Quadrax Chairman; and Stephen W. Tsai, professor of Aeronautics and Astronautics at Stanford University.
 Quadrax Corporation is a pioneer and leader in the development and commercialization of high strength, light weight, recyclable, non-toxic thermoplastic composite materials for aerospace, marine, industrial and consumer markets
 -0- 5/27/93
 /CONTACT: Richard A. Fisher, chairman and CEO, of Quadrax Corporation, 401-683-6600/
 (QDRX)


CO: Quadrax Corporation ST: Rhode Island IN: SU:

LR-SH -- NY075 -- 3057 05/27/93 15:08 EDT
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Publication:PR Newswire
Date:May 27, 1993
Words:278
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