Intertape Polymer Launches Nova-Seal® II Proprietary Roof Underlay21 Aug 2008 • by Natalie Aster
MONTREAL, QUEBEC AND BRADENTON, FLORIDA -- Intertape Polymer Group Inc. announced that its Truro, Nova Scotia facility has commenced commercial production of a newly developed synthetic roof underlayment membrane product. Initial sales from a pilot line during the last few months have performed well.
The new roof underlay, Nova-Seal® II features unique properties which offer better performance and significant cost savings to both contractors and property owners when compared to conventional products such as #30 building felt. Intertape's proprietary technology provides a membrane that is 80% lighter than #30 building felt and is easier to install. Nova-Seal® is waterproof, wind-resistant and has a patent pending anti-slip surface that is effective in both wet and dry weather.
"While the construction industry is currently in a downturn, we see a definite upside with this new product for Intertape. Currently the Company has little or no market share in the estimated $800 million market and fully expects sales to grow quickly due to our superior performance and cost savings for the end user," stated Jim Bob Carpenter, President of Intertape's Engineered Coated Products (ECP) Division.
About Intertape Polymer Group
Intertape Polymer Group is a recognized leader in the development and manufacture of specialized polyolefin plastic and paper based packaging products and complementary packaging systems for industrial and retail use. Headquartered in Montreal, Quebec and Sarasota/Bradenton, Florida, the Company employs approximately 2,100 employees with operations in 17 locations, including 13 manufacturing facilities in North America and one in Europe.
Certain statements and information included in this press release may constitute forward-looking information within the meaning of applicable Canadian securities legislation and the Federal Private Securities Litigation Reform Act of 1995. Forward-looking statements may relate to the Company's future outlook and anticipated events, the Company's business, its operations, its financial condition or its results. Particularly, statements about the Company's objectives and strategies to achieve those objectives are forward-looking statements. While these statements are based on certain factors and assumptions which management considers to be reasonable based on information currently available to it, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. The risks include, but are not limited to, the factors contained in the Company's filings with the Canadian securities regulators and the U.S. Securities and Exchange Commission. While the Company may elect to, it is under no obligation (and expressly disclaims any such obligation) and does not undertake to update or alter this information at any particular time.
Source: Intertape Polymer Group