3M and Aldila Announce Agreement
Nov. 23, 2010 (Marketwire) --
POWAY, CA -- (Marketwire) -- 11/23/10 -- ALDILA, INC. (OTCQX: ALDA) (PINKSHEETS: ALDA) and 3M announced today the signing of a Mutual Commercialization Agreement and a Product Supply Agreement centered around 3M's unique Matrix Resins.
"Partnering with a world class organization such as 3M, one of the world's most innovative companies, is an exciting opportunity for Aldila. We view this as validation of our increasing recognition and capability within the advanced composite materials arena," said Peter R. Mathewson, Chairman and CEO of Aldila, Inc.
"Aldila's 15 years of prepreg manufacturing experience and 38 years of experience in the fabrication of composite products gives Aldila a unique insight in the sports and recreation markets," said Vic Genco, General Manager, 3M Engineered Products and Solutions. "Aldila's experience and reputation in sports and recreation positions them to be the preferred partner for 3M in a growing market. The potential for 3M Matrix Resin to add new possibilities to Aldila's extensive product line is very exciting," Mr. Genco said.
3M Matrix Resin, a proprietary resin technology, enables the production of stronger, lighter, more durable composites. 3M's proprietary resin technology makes it possible for manufacturers to avoid the traditional tradeoff between toughness/flexibility and stiffness/hardness; instead the resin improves performance properties on both ends of the scale.
"Aldila's 'end use' approach gives our prepreg manufacturing a distinct advantage in understanding composite material fabrication processes, and how the material is utilized by our customers. We are confident 3M Matrix Resin will give us an opportunity to bring something unique to our customers," Mr. Mathewson said.
About Aldila
Aldila, Inc. is the premier manufacturer of high performance graphite golf shafts. Major golf club companies, component distributors and custom club makers use Aldila designed and manufactured graphite shafts in golf clubs assembled and marketed throughout the world. For additional information about Aldila, Inc., please visit the Company's website at www.aldila.com.
Aldila also manufacturers from its state-of-the-art composite materials facility, composite prepreg material for its golf shaft business and a growing number of external customers involved in a wide array of applications. For additional information about Aldila Composite Materials, please visit our website at www.aldilacompositematerials.com.
Aldila Contact:
Robert J. Cierzan
Sr. Vice President, Composite Materials
(858) 486-6970
bcierzan@aldila.com
About 3M
A recognized leader in research and development, 3M produces thousands of innovative products for dozens of diverse markets. 3M's core strength is applying its more than 40 distinct technology platforms -- often in combination -- to a wide array of customer needs. With $23 billion in sales, 3M employs 75,000 people worldwide and has operations in more than 65 countries. For more information, visit www.3m.com or follow @3MNews on Twitter. 3M is a trademark of 3M.
3M Public Relations Contact:
Connie Thompson
(651) 733-8914
Or
Karwoski & Courage Public Relations
Michael Gugala
(612) 342-9604
m.gugala@creativepr.com
This press release contains forward-looking statements based on our expectations as of the date of this press release. These statements necessarily reflect assumptions that we make in evaluating our expectations as to the future. Forward-looking statements are necessarily subject to risks and uncertainties. Our actual future performance and results could differ from that contained in or suggested by these forward-looking statements as a result of a variety of factors. Our filings with the Securities and Exchange Commission and OTC Disclosure and News Service present a detailed discussion of the principal risks and uncertainties related to our future operations, in particular our Annual Report on Form 10-K for the year ended December 31, 2009, under "Business Risks" in Part I, Item 1, and "Management's Discussion and Analysis of Financial Condition and Results of Operation" in Part I, Item 7 of the Form 10-K, and reports on Form 10-Q and Form 8-K, all of which can be obtained at www.sec.gov. Our future filings will be included on the OTCQX U.S. Premier website, which can be found at www.otcqx.com.
Investor/Media Contacts:
Scott M. Bier
Vice President, CFO
Sylvia J. Castle
Investor Relations
Aldila, Inc.
(858) 513-1801
Source: Marketwire (November 23, 2010 - 4:15 PM EST)
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