 |
 |
 |
 |
 |
 |
 |
 |
 |
|
 |
|
 |
|
 |
|
 |
April 21, 1999
CPI PLASTICS GROUP LTD. SIGNS EXTRUDAWOOD OUTDOOR SYSTEMS INC. TO MULTI-YEAR DEAL
MISSISSAUGA, ONTARIO, CANADA - CPI Plastics Group Ltd. (CPI) has entered into a five year Master Distribution Agreement with Extrudawood Outdoor Systems Inc. (“EOS”) under which EOS will have the exclusive right to distribute throughout North America and Mexico a new wood replacement product called “Extrudawood” for outdoor applications including outdoor decking and railing systems and furniture products.Extrudawood, produced by CPI, is made from a thermoplastic resin utilizing polystyrene which when extruded exhibits the appearance and colouration of a natural or stained wood surface finish. Extrudawood can be manufactured in almost any shape or colour. “Extrudawood will not rot, split or fade in colour,” said Peter Clark, Chief Executive Officer and Chairman of CPI. “This product offers the consumer an environmentally friendly, maintenance free alternative that comes with a lifetime warranty.
The quality of Extrudawood has impressed two major North American forest product companies. MacMillan Bloedel Building Materials, one of North America’s leading building material distributors, has signed a exclusive agreement with EOS to distribute Extrudawood outdoor decking systems to the major home improvement retailers and retail building material supply outlets across Canada and select locations in the US market. Dane Sutherland, General Manager of Specialty Building Materials has stated that “the wood look-a-like Extrudawood product is by far the most superior thermoplastic simulated wood grain product on the market.” McFarland Cascade, a major distributor of lumber products in the Western U.S., Alaska and foreign markets has also signed an agreement with EOS to exclusively distribute the Extrudawood outdoor decking product in 13 states in the Western U.S. “The romance, warmth and versatility conveyed by Extrudawood in tandem with the low to no maintenance of the EOS decking system strikes us as a very good combination that we believe will be well received by our customers” stated Greg Phillips, Product Manager at McFarland Cascade.
CPI is a North American leader in designing, engineering and manufacturing thermoplastic extrusions. In addition to Extrudawood, CPI’s products also include decorative trim and functional parts for a variety of industries such as automotive and appliance manufacturers. CPI is based in Mississauga, Ontario and has five manufacturing plants in Ontario as well as a distribution facility in Elkart, Indiana. The company employs more than 400 people. CPI Plastics Group Ltd. is listed on the Toronto Stock Exchange and trades under the symbol CPI.