Dow Automotive, Cyclics Corp. Sign Marketing Agreement

    AUBURN HILLS, Mich. & SCHENECTADY, N.Y.--April 22, 2003--Dow Automotive has entered into a long term agreement with Cyclics Corporation for marketing the cyclic form of polybutylene terephthalate (CBT(R)) resins into the global automotive, bus, truck, and rail markets.
    Terms of the agreement were not disclosed. This marketing agreement builds on the success of the resin development alliance announced last April by Cyclics and Dow. Dow's market development activities will include a number of automotive structural composite applications, as well as crash energy dissipation, occupant protection, and other application areas. Among the initial targets are vertical and horizontal body panels, truck boxes, tail gates, and structural composites. These efforts will be driven by the unique qualities of CBT(R) resin.
    Dow Automotive's research and development team and Cyclics have made great strides in the past year to develop and align the benefits of CBT resin to unmet needs in the automotive and other ground transportation markets. Dow Automotive provides a unique position in the market with thermoset and thermoplastic expertise in both materials science and process development. "We have a great deal of confidence in the potential for this new technology, largely due to the fact that the benefits are so wide-reaching," said Jane Palmieri, new business development manager for Dow Automotive. "CBT resins will lead to significant performance improvements over traditional solutions, as well as weight reduction, minimized scrap rates, and lower tooling costs." As OEMs continue to look toward renewable resources, the recyclable nature of CBT resin will enable OEM and tier one customers to meet governmental regulations for recyclability.
    "Dow Automotive's industry expertise and material science leadership provide a strong link in the supply chain to the automotive industry," said John Ciovacco, Chief Executive Officer of Cyclics Corporation. "This relationship moves us toward world-scale capacity and allows Cyclics to focus on commercial development efforts with customers outside the automotive industry."
    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 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 volumes and enable processors to improve performance and productivity.
    Dow Automotive is a leading supplier of plastics, adhesives, sealants, plastics-enhanced products, foams, and body engineered systems to the global automotive industry, serving tier, OEM and aftermarket customers. With offices and application development centers worldwide, the organization provides materials science expertise and comprehensive technical capabilities to its customers worldwide.