Intertape Polymer Group Announces Additional New Product Development For Alternative Energy Industry
MONTREAL, QUEBEC and BRADENTON, FLORIDA (August 20, 2009) – Intertape Polymer Group (“Intertape”, “IPG” or the “Company”) today reaffirmed its commitment to the alternative energy industry by announcing plans to develop additional products for its current portfolio designed for wind, solar, geothermal and biofuel generation markets.
“Our diverse manufacturing capabilities allow us to bring specialty focus and knowledge to alternative energy markets by developing products that are perfectly adapted to specific markets needs,” stated Dean Blockowitz, IPG’s Vice President of Industrial Tapes.
IPG’s alternative energy focus team is dedicated to developing tapes and films based on the needs of alternative energy markets. To support the dramatic growth in the wind energy market, IPG offers a comprehensive range of product technologies developed specifically for manufacturing wind turbines. IPG’s wind turbine technologies are used for blade and nacelle manufacturing; tower assembly; hub, bearing and gearbox assembly in addition to electrical tapes offered for component parts such as generators and inverters. IPG offers the first high performance masking tape designed based on the requirements of wind blade manufacturers. Developmental products include coextruded films for bagging applications and Teflon tapes used in blade production.
Solar panel production also requires a variety of temporary component securing and protecting. IPG offers products for a variety of applications including laminate, cable and reverse side cell fixation in addition to double coated tapes for mounting applications.
Additionally, IPG’s Engineered Coated Products Division provides AquaMasterTM heavy duty reinforced membranes which are used to line algae growing ponds. The algae is harvested and converted into biofuel. Algae has emerged as a promising feedstock for future biofuels due to its high energy content, energy yield per acre, fast growth and ability to grow in water of varying quality. Algae’s potential, at least in theory, is remarkable. According to the U.S. Department of Energy (DOE), algae may be able to produce 100 times more oil per acre than soybeans-currently the leading source of U.S. biodiesel-or any other terrestrial oil-producing crop. There is no other resource that comes even close in magnitude to algae for the potential of making oil.
“Alternative energy is needed to assure a sustainable future,” explained Cindy Stoner, IPG Market Manager “and IPG is better positioned than any other company to manufacture products required to become the leading supplier for this important market segment. Customers in the alternative energy market can rely on IPG to be a single source dedicated to the ongoing development of performance tapes and films that are an integral part of powering the alternative energy market.”
About Intertape Polymer Group
Intertape Polymer Group is a recognized leader in the development and manufacture of specialized polyolefin plastic and paper based packaging products and complementary packaging systems for industrial and retail use. Headquartered in Montreal, Quebec and Sarasota/Bradenton, Florida, the Company employs approximately 2,100 employees with operations in 17 locations, including 13 manufacturing facilities in North America and one in Europe.
Safe Harbor Statement
Certain statements and information included in this press release constitute forward-looking information within the meaning of applicable Canadian securities legislation and the Federal Private Securities Litigation Reform Act of 1995. Forward-looking statements may relate to the Company’s future outlook and anticipated events, the Company’s business, its operations, its financial condition or its results. Particularly, statements about the Company’s objectives and strategies to achieve those objectives are forward-looking statements. While these statements are based on certain factors and assumptions which management considers to be reasonable based on information currently available to it, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. The risks include, but are not limited to, the factors contained in the Company’s filings with the Canadian securities regulators and the U.S. Securities and Exchange Commission. While the Company may elect to, it is under no obligation (and expressly disclaims any such obligation) and does not undertake to update or alter this information at any particular time.
FOR INFORMATION CONTACT:
Market Manager, Industrial Tape Products