THE Story as reported on Canada-Stockwatch:
New product line introduced
Lenox Polymers Ltd LENP
Shares issued Dec 16 close $2.40
Tue 17 Dec 96 News Release
Mr Ken Kurple reports
The company has introduced a new product line using a unique resin-based
composite material to produce molds which are used to manufacture plastic
parts for the automotive, recreational, agricultural, aerospace, packaging,
marine and building industries. Molds produced with this Lenox material
system require only a fraction of the time required for machined aluminum,
cast aluminum, cast kirksite, and laminated epoxy.
The new mold products have been production-proven in the auto industry
during the past two years. They are used to construct molds for production
processes such as reaction injection molding compression molding, resin
transfer molding thermoforming, and contact molding. These molds are
capable of manufacturing parts in polyurethane, ABS, polyolefin, nylon, and
fiberglass materials.
Automotive components such as doors, hoods, interior panels, spoilers,
bumpers, etc may be produced in molds constructed of these innovative Lenox
materials.
Lenox began delivery of the new mold materials in November, and a $100,000
mold program to manufacture plastic car door interiors has been commenced
and financed by a major automotive supplier. The first parts have already
been produced for one of the major US automobile manufacturers. Other new
products using this mold system are a wing-type automotive spoiler and a
structural canoe seat.
The lower cost in the Lenox-based mold construction is due in large part to
reduced labour requirement. The unique combination of high performance
polymers with metals and fibres produce the high performance composite
having operating temperature capability of more than 600 degrees F.
Molds for manufacturing are commonly called tooling in the industry, and
the complete tooling of an automobile line costs hundreds of millions of
dollars. The automotive industry, on average, is on a five year cycle, with
new tools being produced at least every five years per product line. The
new Lenox products can help to reduce the time to retool by a significant
margin. The tooling industry exceeds $5 billion annually in the US alone.
Lenox holds multiple patents on the production of high performance polymers
using lignin, a wood product. Lignin is the glue that binds the cellulosic
fiber of wood together, and this is obtainable from black liquor, the waste
product of wood pulp paper mills. With unique Lenox technology, lignin
becomes a reactive polymeric material which can be molded in various
processes, as well as used as a binder in the foundry and wood products
industries.
A Lenox-based product was introduced by Prestone in 1995 as Spray N' Go, a
tire traction spray for use on icy roads. Several hundred thousand cans
have been produced and are being sold in the US and Canada.
(c) Copyright 1996 Canjex Publishing Ltd. canada-stockwatch.com
Regards,
-DT |
