Announcement of Marketing Alliance |
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Zotefoams Inc.
55 Precision Drive
Walton, KY, 41094
USA
Press release date: August 28, 2007
Advanced insulation systems for biotechnology and semi-conductor markets
Zotefoams (LSE: ZTF.L), the foam technologists, and UFP Technologies, Inc. (Nasdaq: UFPT), a manufacturer of packaging and component products, today announce that they have formalised an agreement to work together to target the market for high performance insulation systems.
UFP Technologies ("UFPT") has, using Zotefoams' ZOTEK ® F fluoropolymer foams, created an advanced insulation system specifically developed for stainless steel process lines in clean environments. Branded as T-Tubes ®, these insulation systems are designed to meet the exacting standards required in clean process environments in industries such as biotechnology, pharmaceutical, semiconductor and nuclear. "We believe there is a significant unmet need for clean environment insulation solutions and our partnership with Zotefoams allows us to bring a unique value added solution to the market", said R. Jeffery Bailly, Chairman, CEO and President of UFPT.
Zotefoams and UFPT will work together to develop T-Tubes as a worldwide brand. UFPT will market and develop T-Tubes in North America while Zotefoams will be responsible for marketing and development in Europe, Middle East and Asia. Initially all conversion of foam into finished products will be based in the UFPT facility in Georgetown, MA, USA with foam supplied from Zotefoams' facility in Croydon, UK. "This is a new and exciting market for both companies and further validation of the unique qualities of our new fluoropolymer foams. I am delighted to be developing the T-Tubes product alongside UFPT, a customer of Zotefoams for over 20 years", said David Stirling, Managing Director of Zotefoams plc.
ZOTEK ® is a registered trademark of Zotefoams plc T-Tubes ® is a registered trademark of UFP Technologies Inc. See www.t-tubes.com
For further information, contact:
Zotefoams plc
David Stirling Managing Director, Zotefoams plc Tel: +44 (0) 20 8664 1600 www.zotefoams.com
or
Ben Brewerton / Emma Thompson Financial Dynamics Tel +44 (0) 207 831 3113
UFP Technologies, Inc
Ron Lataille CFO UFP Technologies Inc www.ufpt.com
About Zotefoams
Zotefoams plc (LSE - ZTF) is the world's leading producer of light weight, cross-linked, closed-cell, block foams. These pure, consistent foams are manufactured using a unique environmentally friendly nitrogen expansion technology. Zotefoams was the first to develop cross-linked polyolefin foams and is increasingly using its production technology to manufacture foamed materials based on high performance polymers. Based in Croydon UK, Zotefoams also manufactures in Kentucky USA and markets its products worldwide through a global sales network. Visit: www.zotefoams.com
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