Advanced Products Corporation
Acquires Majority Interest In Vermont Composites
BENNINGTON, VT. - Sept. 21, 2004 – Vermont Composites, Inc. announced
today that Advanced Products Corporation (APC) has purchased majority
interest in the company. Advanced Products Corporation is a holding
company whose goal is to establish a major product capability for the
next generation of materials including carbon fiber products for
aerospace, defense, medical and automotive applications. Kline Hawkes &
Co., a Los Angeles based private equity firm is a major investor in APC.
“Vermont Composites represents a major building block in APC’s
portfolio. We look forward to working with Vermont Composites’
management team to grow the company substantially,” said Paul W. Pendorf,
President of APC.
Vermont Composites looks forward to added growth in its Bennington,
Vermont facility and believes that the purchase by APC will accelerate
this growth,” said Dan Maneely, President of Vermont Composites. “ Our
management team will continue in its function to lead Vermont Composites
into this new era of expansion and increased prominence in the
manufacturing of both aerospace and commercial markets,” Mr. Maneely
concluded.
Vermont Composites was formed in 1996 when the management team purchased
the company from Courtaulds. Since that time, the company has more than
doubled in size.
Vermont Composites, Inc. designs, develops and fabricates advanced
composite structures for commercial and aerospace markets. The Company
is ISO 9001-2000 certified and services a broad range of customers.
Manufacturing processes include lay up, autoclave and press cure, CNC
routing and machining, finishing, and assembly. Support functions
include design, analysis, tooling, design, testing and all
administrative functions.
Products include: medical x-ray tables and other composite structures
used in diagnostic imaging, products for the aerospace and aircraft
industries including fairings, radomes, electronic enclosures, and other
composite structures used in aircraft, launch vehicles, and spacecraft.
Vermont Composites:
Dan Maneely, President
Vermont Composites, Inc.
Tel: 802 442-9964 ext. 233 Fax: 802 447-3642
e-mail:
dan.maneely@vtcomposites.com
http://www.vtcomposites.com
Advanced Products Corp.:
Paul W. Pendorf, President
Advanced Products Corpration
Tel: 310 306-1328 Fax: 310 827-3166
e-mail: paulpendorf@aol.com