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Imperial PlasTech arranges supplier agreement with AFI

2004-08-26 15:05 ET - News Release

Mr. Stamatis Astras reports

IMPERIAL PLASTECH SIGNS EXCLUSIVE PRODUCTION CONTRACT WITH AGRA FLOORING INTERNATIONAL; NEW PARTNERSHIP SHOULD MAXIMIZE CAPACITY AT IMPERIAL PLASTECH'S NISKU FACILITY

Imperial PlasTech Inc. has entered into an exclusive supplier agreement with Agra Flooring International Ltd. Terms of the agreement will provide a substantial boost to Imperial's fiberglass pultrusion facility in Nisku, Alta.

AFI is a leading manufacturer of flooring systems for the animal confinement and agricultural sectors. The new partnership with Imperial PlasTech is the result of significant demand worldwide for AFI's patented products. Currently, 75 per cent of AFI sales are exported abroad. According to Imperial's chief executive officer, Stamatis Astras, the Nisku plant will produce proprietary original equipment manufacturer profiles for AFI.

"While partnering with AFI clearly maximizes production at our Nisku plant, the deal also employs our R&D team and diversifies our target markets for fibreglass pultrusions," stated Mr. Astras. "We expect to have several new product launches from the Nisku facility over the next 12 months," added Mr. Astras.

Founded in 1960 and listed on the Athens Stock Exchange since 1973, Petzetakis group is a Greek multinational company and one of the fastest growing manufactures of plastic pipe and hose systems in the world. The company operates 17 major manufacturing facilities on three continents and employs over 1,600 people worldwide. The Petzetakis group currently distributes their products in over 70 countries with annual sales in excess of $300-million. The company currently owns approximately 85 per cent of the Imperial PlasTech trading stock.