11/21/2008
Product Pick of the Week - Intertape Polymer dives into wind power
Intertape Polymer Group is looking to tap into what is expected to be a $60.9 billion market in five years for global wind power products.
The Canadian company, which maintains its executive offices and 70 employees in Bradenton, said it plans to develop tapes and films that would be needed in the alternative energy markets, such as wind and solar.
Intertape already has rolled out some new products aimed at emerging or evolving industries. For example, the company launched "Anchor Orange Mask," a performance masking tape designed to "address the challenges facing composite manufacturing," which is used in windmill blade industries. Orange Mask is designed to perform with various chemicals used in molding environments.
"We see opportunities to leverage our unique technical capabilities in support of the wind energy market," said Dean Blockowitz, Intertape's vice president of industrial tapes, in a statement. "Intertape is unique in developing masking tapes for the composites industry, where as our competitors are marketing existing automotive products that simply don't address composite manufacturing requirements."
The company's shares, which trade on the New York Stock Exchange, were selling for $1.70 by the close of regular trading on Wednesday, up 10 cents, or 6.25 percent.
Intertape posted a $4.2 million, or 7-cents-per-share, profit in the third quarter. That was four times the profits of a year ago when Intertape reported $1 million, or 2 cents per share. Sales were flat at $202 million.
Profits for 2008 so far have totaled $7 million, or 12 cents per share, compared with $7.7 million, or 19 cents per share, during the same nine-month period last year. Sales totaled $584 million for the first nine months, up about 1.4 percent.
Intertape employs about 2,100 at 17 sites. It has 13 manufacturing plants in North America and one in Europe.
The Canadian company, which maintains its executive offices and 70 employees in Bradenton, said it plans to develop tapes and films that would be needed in the alternative energy markets, such as wind and solar.
Intertape already has rolled out some new products aimed at emerging or evolving industries. For example, the company launched "Anchor Orange Mask," a performance masking tape designed to "address the challenges facing composite manufacturing," which is used in windmill blade industries. Orange Mask is designed to perform with various chemicals used in molding environments.
"We see opportunities to leverage our unique technical capabilities in support of the wind energy market," said Dean Blockowitz, Intertape's vice president of industrial tapes, in a statement. "Intertape is unique in developing masking tapes for the composites industry, where as our competitors are marketing existing automotive products that simply don't address composite manufacturing requirements."
The company's shares, which trade on the New York Stock Exchange, were selling for $1.70 by the close of regular trading on Wednesday, up 10 cents, or 6.25 percent.
Intertape posted a $4.2 million, or 7-cents-per-share, profit in the third quarter. That was four times the profits of a year ago when Intertape reported $1 million, or 2 cents per share. Sales were flat at $202 million.
Profits for 2008 so far have totaled $7 million, or 12 cents per share, compared with $7.7 million, or 19 cents per share, during the same nine-month period last year. Sales totaled $584 million for the first nine months, up about 1.4 percent.
Intertape employs about 2,100 at 17 sites. It has 13 manufacturing plants in North America and one in Europe.
- Source:
- Online editorial www.windfair.net
- Author:
- Edited by Trevor Sievert, Online Editorial Journalist
- Email:
- ts@windfair.net
- Link:
- www.windfair.net/...
- Keywords:
- wind energy, renewable energy, wind turbine, wind power, wind farm, rotorblade, onshore, offshore
