Here is the Ireland release from today... sounds good, but once again the market is ignoring. The focus seems to be off all microcaps lately. Cycles, I guess.
Here it is:
RANCHO DOMINGUEZ, Calif.--(BUSINESS WIRE)--March 9, 1998--
Advanced Materials Group (NASDAQ:ADMG) announced today that it
is continuing its strategy of International expansion by establishing a manufacturing presence in Ireland which will serve
as a base for the Company to penetrate European markets. The Company has leased a facility in Count Kildare, near Dublin, which
was ready for occupancy March 1, 1998. Key production equipment is in
place with additional equipment slated for delivery over
the next three months. The applications targeted include: medical
disposables, computer and printer components, inking felts,
automotive components, and orthopedic cushioning. Advanced Materials
Group expects to be selling products out of the Ireland facility
by mid-April of this year.
Commenting on the expansion, Advanced Materials' President and Chief
Executive Officer Steve Scott said, "We are very pleased to be able to
move forward with our expansion into Europe. Ireland has a strong market for our core competencies, a supportive business environment, a capable labor force, and is an excellent export base into the EC.
"This second key element of our international expansion follows our
recently announced joint venture agreement with Foamex International for the establishment of manufacturing facilities in Singapore. Not only do these international sites allow us to work more closely with the international operations of our largest customers, but the tax
advantages of our manufacturing in these locations will be of very
significant benefit to Advanced Materials Group as we go forward.
Earnings from both the Ireland and Singapore facilities will be
accretive.
"To head our new facility in Ireland as Chief Executive, we have added
Mr. Tom Lane, who comes to us from Killeen Corrugated
Products, Ltd., a subsidiary of the Jefferson-Smurfit Group, a
multi-billion dollar enterprise. We are confident that Tom's
multifaceted experience will be instrumental in growing this new
facility to become one of the key components of the Advanced
Materials Group of the future."
Advanced Materials Group, Inc. 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 U.S. and
abroad.
CONTACT: Advanced Materials Group, Inc.
Steve F. Scott or J. Douglas Graven, 310/537-5444
or
Coffin Communications Group
John Muir, 818/789-0100
ÿ |
