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June 1998
CPI PLASTICS LINKS WITH BRITISH FIRM
MISSISSAUGA, ONTARIO - CPI Plastics Group Ltd. has entered into a new North American joint venture, royalty and licence agreement with Extrudawood International PLC of Britain.
CPI said it will continue to produce a plastic product exclusively for the North American market that, when extruded, exhibits the appearance and colour of a simulated natural or stained wood surface finish.
Under the agreement, CPI has been given the exclusive right to enter into agreements with manufacturers outside North America to produce, licence, manufacture or otherwise exploit the Extrudawood product in global markets.
Toronto-based CPI said it will have, in effect, an 80-per-cent economic interest in the North American joint venture and a 75-per-cent interest in the international marketing agreement.
Both agreements are for 25 years, subject to renewals for successive 10-year periods, it said.