TROY, MICH., September 25, 2008 – Inteva Products, LLC and A. Schulman, Inc. announced today a licensing agreement to provide automotive manufacturers with an industry-leading technology for use in the interior manufacturing process. Inteva’s recently developed technology, a thermoplastic elastomer (TPE) blend, will provide automakers with a high-quality, durable and environmentally friendly alternative material.
“Working with A. Schulman provides opportunity to manufacture and distribute a common, reliable material to OEMs throughout the industry,” said Lon Offenbacher, Inteva president & CEO. “Our TPE blend will give automakers a real advantage for their automotive interiors by providing an innovative material that can be utilized across a multitude of vehicle platforms.”
“A. Schulman is excited about the opportunity to provide TPE that is specially formulated for this process, and to partner with Inteva in bringing this new technology to the marketplace worldwide,” said Joseph M. Gingo, chairman, president and CEO at A. Schulman. “This technology will be a new addition to our Invision® family of TPE products, and adds another innovative solution to help our customers provide industry-leading interiors.” For decades, the automotive industry has produced instrument and door panels through the process of slush-molding. Originally developed for polyvinyl chloride (PVC) based materials, slush-molding produces skins that conform to tight angles and rich detail for vehicle interior surfaces. Recently, shortfalls in PVC performance have led to a high demand for non-PVC slush-moldable materials. In response to this need for more quality, safety and flexibility, and automakers’ increased focus on the interior, Inteva has worked for four years on the development of leading alternative interior materials to this family of TPE blends. A. Schulman's Invision TPE product line is separate from its Invision sheet business. For more information about Invision TPE, visit www.aschulman.com/invision.
About Inteva Products, LLC
Worldwide and regional economic, business and political conditions, including continuing economic uncertainties in some or all of the Company’s major product markets;
- Fluctuations in the value of currencies in major areas where the Company operates, including the U.S. dollar, euro, U.K. pound sterling, Canadian dollar, Mexican peso, Chinese yuan and Indonesian rupiah;
- Fluctuations in the prices of sources of energy or plastic resins and other raw materials;
- Changes in customer demand and requirements;
- Escalation in the cost of providing employee health care;
- The outcome of any legal claims known or unknown;
- The performance of the North American auto market; and
- The North American recessionary economy.
Additional risk factors that could affect the Company’s performance are set forth in the Company’s Annual Report on Form 10-K. In addition, risks and uncertainties not presently known to the Company or that it believes to be immaterial also may adversely affect the Company. Should any known or unknown risks or uncertainties develop into actual events, or underlying assumptions prove inaccurate, these developments could have material adverse effects on the Company’s business, financial condition and results of operations. This release contains time-sensitive information that reflects management’s best analysis only as of the date of this release. A. Schulman does not undertake an obligation to publicly update or revise any forward-looking statements to reflect new events, information or circumstances, or otherwise. Further information concerning issues that could materially affect financial performance related to forward-looking statements can be found in A. Schulman’s periodic filings with the Securities and Exchange Commission.