Cyclics Corp. Opens New Facilities, Dedicates to Dr. Walter L. Robb; Dow Automotive Announces New Alliance with Cyclics at Ribbon-Cutting Event

    SCHENECTADY, N.Y.--April 23, 2002--Cyclics Corporation celebrated the opening of its new building today and dedicated it to Dr. Walter L. Robb, former head of GE's Research and Development Center in Schenectady, NY, who was vital in helping Cyclics(R) achieve its current level of success as a plastics innovator paving the way for new products through advanced processing methods and materials.
    The ribbon-cutting event also featured a major alliance announcement between Dow Automotive and Cyclics(R) to develop resins for automotive applications with a focus on automotive structural composites including vertical and horizontal body panels and truck boxes. Terms of the agreement were not disclosed.
    "The new building and the Dow alliance together clearly raises Cyclics to the next level," said John Ciovacco, President and CEO of Cyclics Corporation. "Given the importance of these events, it is fitting to mark the day by dedicating our building to Dr. Robb. We would not be here if not for his efforts."
    "My career has been long and rewarding already," said Robb, a member of the Board of Directors of Cyclics Corporation. "But I consider this gesture extremely special. I am honored that Cyclics(R) is dedicating their building to me, and I look forward to continuing my support to ensure a very successful future."
    "Today represents the culmination of several economic-development initiatives coming together to achieve the goals of economic growth," said Lt. Gov. Mary O. Donohue. "Examples like this demonstrate that we have not only made the New York state business climate friendly for the entrepreneurial spirit to thrive, we have made it attractive for companies like Cyclics(R) to stake their future here."
    Cyclics Corporation received a financial package from the Schenectady Metroplex Development Authority, City of Schenectady and the Schenectady County Legislature totaling $1.7 million in loans and grants to pay for the specialized facilities the company needs to develop its unique plastic products. Recently graduating from the University at Albany incubator site in Rensselaer and outgrowing a small application development center in Clifton Park, Cyclics'(R) rapid growth required a larger, specialized facility -- Schenectady was chosen after a nationwide search. With offices in Germany and France, the Schenectady headquarters will allow 27 employees to develop and commercialize Cyclics(R) resins for markets that include sports equipment, energy, transportation, electronics and construction. With over 50 worldwide patents, Cyclics(R) manufactures resins that are being tested in a variety of applications around the world.
    "We're extremely pleased that young companies with great promise like Cyclics(R) are making long-term commitments to the Schenectady community," said Jayme LaHut, Metroplex executive director. "These are the types of firms we consider a strong investment to help continue to grow Schenectady."
    Other speakers at the dedication ceremony included Schenectady Mayor Al Jurczynski, Cyclics Board of Directors member Michael Cudahy, Dow Automotive's New Business Development Manager Jane Palmieri and a special performance by the Dutch Pipers, a Union College singing group.

    Cyclics Corporation sells an innovative plastic that is a breakthrough in processing, making new products possible and changing the economics of existing ones. Cyclics(R) Resins offer the processing advantages of a thermoset, namely the low viscosity, but have the material properties of a thermoplastic when polymerized. Cyclics(R) products are useful in structural composites, compounding and powder coating, where the water-like viscosity of these cyclic materials allow for extremely high filler volumes and unique polymer chemistries.