Cyclics Corporation and Davy Process Technology Partner On Production of CBT-R- Resin

    SCHENECTADY, N.Y.--Sept. 5, 2002--Cyclics Corporation (www.cyclics.com) has partnered with Davy Process Technology (www.davyprotech.com) to design and build Cyclics' first commercial production facilities to be located in Germany.
    Davy Process Technology is working both on the design of the facility as well as assisting in managing the overall project.
    Cyclics and Davy are working on building a facility with a capacity of several million pounds. Cyclics has already developed the basics of the process, and Davy is assisting with design and performing the basic engineering. Taking advantage of Davy's involvement in building chemical plants around the world, Cyclics has hired Davy to assist in managing the construction of the plant. Cyclics and Davy are also planning the construction of a larger facility to follow the completion of the first commercial plant.
    "We are impressed with the depth of engineering expertise that Davy brings to the table," said John Ciovacco, Chief Executive Officer, Cyclics Corporation. "Partnering with Davy allows Cyclics to essentially grow our production team quickly and with high quality professionals whose track record in building chemical plants is impressive. We believe this partnership will accelerate our efforts to build production capacity while allowing us to feel comfortable that our plans will succeed. "
    "We are excited about working with the Cyclics team." said David Tomlinson, President of Davy Process Technology. "As a technology company we thrive on the challenge of commercialising leading edge technologies. We are intrigued with the CBT product and process, and have confidence that we can assist Cyclics to reach efficient economies of scale."

    Cyclics Corporation, headquartered in Schenectady, New York, manufactures innovative plastics that offer breakthroughs in processing, making new products possible and changing the economics of existing ones. Cyclics resins offer the processing advantages of a thermoset, namely the low viscosity, but have the material properties of a thermoplastic when polymerized. Cyclics products are useful in structural composites, compounding and powder coating, where the water-like viscosity of these resins allow for excellent processing, extremely high filler loadings and unique polymer chemistries.

    Davy Process Technology has a global business in petrochemicals technology development and technology licensing. The company has headquarters in London, a subsidiary company in Switzerland and a Technology Centre in Stockton-on-Tees. It owns a range of proprietary process technologies such as Methanol, Gas Conversion Technologies, Butanediol, Natural Detergent Alcohols, Oxo Alcohols, Industrial Amines, Ethyl Acetate, Fertilisers, Loop Reactors, Fluorine Chemicals, Phosgene and Carbon Anodes.