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Taconic Announces Asset Purchase of Alphaglas® Product Line
Petersburgh, NY – July 31, 2009 – The Industrial Products Division of Taconic announced that the Company has entered into an Asset Purchase Agreement to acquire the assets related to the Alphaglas® line of PTFE coated fabrics, tapes and belts from Alpha Associates, Inc. of Lakewood, NJ.
Taconic has been an industry leader in the development of advanced engineered composite materials for the global marketplace for nearly fifty years, offering PTFE coated fiberglass belts, tapes and fabrics for industrial applications. As an experienced manufacturer of similar products, the acquisition of the Alphaglas® line complements Taconic’s line of TacTapes™ and TFE-Glass™ fabrics and belting materials.
Founded in 1968 as a manufacturer of specialty materials for the U.S. Space Program, Alpha Associates, Inc. develops, manufactures and markets high performance industrial fabrics, composites and elastomers. Alpha’s high performance PTFE products combine PTFE coatings with woven fiberglass substrates to produce fabrics, tapes and belts for a wide range of material-handling, processing, packaging and other applications. According to Christopher Avallone, President of Alpha, “The divestiture of the Alphaglas® product line aligns with Alpha’s strategy of refocusing on our core industrial textile and composite markets.”
“The Alphaglas® product line is a natural fit for us,” said Andrew Russell, Chief Executive Officer of Taconic. “By combining resources, we will strengthen our presence in the marketplace, allowing us to continue to serve the needs of our customers and exceed their expectations.”
For more information regarding Taconic’s high performance PTFE coated products, please contact Taconic at 800.833.1805 or visit the Company website at www.4taconic.com.
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