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Microcap & Penny Stocks : ADMG Advanced Materials Group

ADMG 0.0270

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Nov 5 3:51 PM EST

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To: Feraldo who wrote (132)	11/6/1997 2:09:00 PM
From: Dave B	Read Replies (2) of 217

Here's the story.... RANCHO DOMINGUEZ, Calif.--(BUSINESS WIRE)--Nov. 6, 1997--Advanced Materials Group Inc. (NASDAQ:ADMG) Thursday announced that it is forming a joint venture in Singapore with Foamtec Pte. Ltd. The joint venture will manufacture and market products to select customers in the Pacific Rim. Foamtec is a subsidiary of Foamex Asia Co. Ltd. Foamex Asia is a subsidiary of Foamex International (Nasdaq:FMXI), which is the largest manufacturer and marketer of flexible polyurethane and advanced polymer products in North America. Commenting on the agreement, Advanced Materials' president and chief executive officer, Steve Scott, said: ''We are excited to be going forward with Foamtec. We are committed to developing our presence in Asia as a strategic priority, as is Foamtec. The joint effort of the two companies will be very complementary in achieving focused growth in the region. ''We expect the joint venture to contribute to our anticipated growth during fiscal 1998 as operations come on-line early next year.'' Advanced Materials Group is a leading manufacturer and fabricator of specialty foams, foils, films and pressure-sensitive adhesive components for a broad base of customers in the computer, medical, automotive and aerospace industries both in the United States and abroad. Dave B

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