PGI Announces Installation of New State-of-the-Art Spunbond Line Serving Hygiene...
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PGI Announces Installation of New State-of-the-Art Spunbond Line Serving
Hygiene and Medical Markets in U.S. and Mexico
CHARLOTTE, N.C., May 11 /PRNewswire-FirstCall/ -- Polymer Group, Inc. (OTC
Bulletin Board: POLGA, POLGB) today announced it has completed the
installation of its new state-of-the-art spunbond line in San Luis Potosi,
Mexico to serve hygiene and medical customers in the U.S. and Mexico.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080903/CLW036LOGO-b )
The $50 million plant expansion was completed as scheduled and increases
capacity by approximately 15,000 metric tons to meet ongoing demand for the
company's nonwoven materials used in hygiene and disposable medical
applications.
With the expansion, PGI reinforces its position as a leading producer of
spunbond materials in the Americas and continues to strengthen its long
presence in the region. A commencement celebration with elected officials,
customers and suppliers will be held in September. The Mexico plant began
operation as Bonlam in 1989 and will celebrate its 20th anniversary this
month. It has been part of the PGI family since 1994.
PGI's new Reifenhauser REICOFIL 4 line features the latest technology and
produces high-quality, lightweight, strong fabrics for use in fine denier
barrier materials used in diapers and medical garments. In addition to serving
customers in Mexico and the U.S., the new line also is a gateway for PGI to
supply its products to Central America and the Caribbean.
"This expansion, as well as our other investments, demonstrates our commitment
to increasing our production capabilities in our core markets to meet specific
customer demand. We are focused on maintaining a leadership position in our
markets through offering the best delivered value to customers in terms of
quality, performance, innovation and supply chain management," said Polymer
Group's chief executive officer, Veronica (Ronee) M. Hagen.
PGI also commercialized a new spunbond line near Buenos Aires, Argentina, in
2008 that more than doubled the capacity of its joint-venture facility to meet
growing demand for its hygiene products in Latin America, where PGI is the
region's leading hygiene supplier.
PGI, one of the world's leading producers of nonwovens, is a global,
technology-driven developer, producer and marketer of engineered materials.
With the broadest range of process technologies in the nonwovens industry, PGI
is a global supplier to leading consumer and industrial product manufacturers.
The company operates 17 manufacturing and converting facilities in eight
countries throughout the world. For more information, visit
www.polymergroupinc.com.
Safe Harbor Statement
Except for historical information contained herein, the matters set forth in
this press release are forward-looking statements, within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, that involve certain risks and uncertainties that could
cause actual results to differ materially from those described in the
forward-looking statements. These forwardlooking statements speak only as of
the date of this release. Important factors that could cause actual results
to differ materially from those discussed in such forwardlooking statements
include: general economic factors including, but not limited to, changes in
interest rates, foreign currency translation rates, consumer confidence,
trends in disposable income, changes in consumer demand for goods produced,
and cyclical or other downturns; substantial debt levels and potential
inability to maintain sufficient liquidity to finance the company's operations
and make necessary capital expenditures; inability to meet existing debt
covenants; information and technological advances; changes in environmental
laws and regulations; cost and availability of raw materials, labor and
natural and other resources and the inability to pass raw material cost
increases along to customers; changes in selling prices to customers which are
based, by contract, on an underlying index; domestic and foreign competition;
reliance on major customers and suppliers; inability to achieve successful or
timely start-up on new or modified production lines; achievement of objectives
for strategic acquisitions and dispositions; and risks related to operations
in foreign jurisdictions. Investors and other readers are directed to
consider the risks and uncertainties discussed in documents filed by Polymer
Group, Inc. with the Securities and Exchange Commission, including the
company's Annual Report on Form 10-K and subsequent Quarterly Reports on Form
10-Q.
For media inquiries, please contact: Cliff Bridges Global Marketing, HR
and PR Communications Director (704) 697-5168 bridgesc@pginw.com
For financial inquiries, please contact:
Dennis Norman Vice President, Strategy & Corporate Development (704)
697-5186 normand@pginw.com
SOURCE Polymer Group, Inc.
Media, Cliff Bridges, Global Marketing, HR and PR Communications Director,
+1-704-697-5168, bridgesc@pginw.com, Financial Inquiries, Dennis Norman, Vice
President, Strategy & Corporate Development, +1-704-697-5186,
normand@pginw.com, both of Polymer Group, Inc.
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