SOURCE: Lehigh Technologies

October 16, 2006 09:00 ET

Lehigh Technologies Acquires Microtec GmbH

Merger Solidifies, Extends Leadership Position in Engineered Rubber Powders Market

NAPLES, FL -- (MARKET WIRE) -- October 16, 2006 -- Lehigh Technologies LLC, a leading manufacturer of engineered rubber powder, today announced that it has acquired Microtec GmbH, including the intellectual property rights underlying the company. Based in Bobingen, Germany, Microtec has been a worldwide leader in powderization technologies for over a decade. Josef Fischer, the founder of Microtec, is recognized globally as a leading authority on fine particle grinding and classification systems. Mr. Fischer will continue to manage Microtec and has become Chief Technology Officer of Lehigh. The terms of the deal were not disclosed.

"Josef Fischer has long been an expert in powderization, and we are thrilled to welcome him to the Lehigh team," said Dennis J. Gormley, Chief Executive Officer of Lehigh. "By acquiring Microtec, we secure our place as the market leader in providing high-quality, engineered rubber powders. Lehigh's processing expertise, combined with Microtec's engineering sophistication and innovative grinding systems, opens up a world of additional opportunities in the marketplace for our two companies."

As Chief Technology Officer for Lehigh, Mr. Fischer will concentrate on the design and development of next-generation milling and screening machines. "Lehigh brings operating acumen and financial capital to the powderization market," stated Mr. Fischer, "and I am excited to be joining its world-class organization. I look forward to building upon Microtec's past success and creating more value in the future for our customers and strategic partners."

About Lehigh Technologies, LLC

Lehigh Technologies provides engineered ultra-fine rubber powder that delivers enhanced performance, as well as manufacturing cost savings and environmental benefits, at a price point that is affordable and sustainable for low-to-high volume applications. Unlike crumb rubber recyclers and other suppliers in the past, Lehigh produces engineered performance fillers, modifiers and additives enabling manufacturers across a variety of industries to easily include rubber powder as a strategic ingredient into their manufacturing process without compromising the integrity of their products. Headquartered in Naples, Florida, the company is privately held. For more information, please visit www.lehightechnologies.com.

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