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MIDLAND, Mich., March 26 /PRNewswire/ - The Dow Chemical Company (NYSE: DOW - News) is announcing the divestiture of its technology and business relating to FULCRUM* thermoplastic composite technology for the production of continuous fiber composites using a thermoplastic matrix to a newly formed company, Fulcrum Composites Inc.
The initial FULCRUM technology was developed at The Dow Chemical Company and is a revolutionary pultrusion process using resins manufactured by Dow. The new company, Fulcrum Composites Inc., acquired all physical and intellectual assets of the FULCRUM technology including the manufacturing facilities at the National Composite Center in Dayton, OH; a broad portfolio of patents, trademarks and commercial agreements.
Chris Edwards, formerly the Dow Business Manager for FULCRUM technology resigned from Dow to become the new CEO of Fulcrum Composites Inc. Edwards stated, "This is a great opportunity for the Fulcrum business. The development of FULCRUM technology was based both in chemistry and polymer science. This made Dow, with its world class material science expertise, the ideal place for the development. The challenge of the new company is to adjust to the scale and speed of the industries we serve. Fulcrum Composites Inc. will continue the evolution of the process and technology and bring additional focus on design and structural analysis to accelerate development of new applications."
"Fulcrum Composites Inc. now has an opening to maximize the value of this technology, and we benefit from increased demand for our resins," said Greg Jozwiak, Dow Business Director for Elastomers & Specialty Products. "FULCRUM technology has the potential to combine the flexibility and design freedom of thermoplastic extrusion with the structural attributes of high performance composites. We are pleased to see the creation of this new company with potential to have a significant, positive impact on the future of the plastics industry." Dow has acquired a minority equity position in Fulcrum Composites Inc.
Composites manufactured using FULCRUM technology offer the strength and stiffness of continuous fiber composites together with the design flexibility of being able to thermoform and over-extrude combined with the toughness of a thermoplastic matrix. They offer significant environmental advantages including total recyclability and zero emissions of volatile organic compounds (VOCs) during manufacture.
Multiple applications have been developed or are in progress including ski-poles, agricultural equipment, structural reinforcement systems, rigging and tensile elements, tool handles, refrigerator components and ladder rail.
About Fulcrum Composites Inc.
Fulcrum Composites Inc. is a newly formed company which acquired all assets and technology previously owned by The Dow Chemical Company related to FULCRUM technology. Its objective is to deliver innovative solutions and value to the plastics market. More information about Fulcrum Composites Inc. and FULCRUM technology is available at their website, www.fulcrumcomposites.com . For additional information, please contact Chris Edwards, CEO, Fulcrum Composites Inc., at 989-636-1025 or by e-mail at firstname.lastname@example.org
Dow is a leader in science and technology, providing innovative chemical, plastic and agricultural products and services to many essential consumer markets. With annual sales of $33 billion, Dow serves customers in more than 180 countries and a wide range of markets that are vital to human progress, including food, transportation, health and medicine, personal and home care, and building and construction, among others. Committed to the principles of sustainable development, Dow and its approximately 46,000 employees seek to balance economic, environmental and social responsibilities. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted.