SOURCE: Spartech Corporation

Spartech Corporation

March 01, 2010 16:17 ET

Spartech Announces Plans for New Technology and Innovation Center in St. Louis

ST. LOUIS, MO--(Marketwire - March 1, 2010) - Spartech Corporation (NYSE: SEH), a leading producer of plastic sheet, compounds, and packaging products, announced today the formation of a new technology center in St. Louis, Missouri. The new facility will bring together their material development, product development and packaging technology centers into one location. The new Center will expand to an 80,000 to 100,000 square foot facility and will include a full complement of technology and lab capabilities to support Spartech's advancement of integrated technologies in material science, extrusion technologies, and packaging products. Spartech plans to be operational in a facility in St. Louis by mid-summer 2010.

This new facility will leverage Spartech's existing knowledge of materials, extrusion, forming and design by connecting approximately 40 material scientists, processing engineers, and commercial development specialists with our customers to promote growth and innovation. Spartech's new Technology and Innovation Center will be designed specifically to provide our current and future customers with a unique opportunity to work with our expanded technology team on advanced thermoplastics and polymers, new product applications, and innovative processing capabilities to create solutions for a broad array of end markets. Another goal of our commercial development specialists is to reduce the cost of product development cycles and shorten the time-to-market of new products and applications for our customers.

"This is an exciting new step for the Company," said Myles Odaniell, CEO of Spartech. "We are committed to investing in the Company through technology to drive our organic growth for the future. We believe, by combining our technology centers, we will be able to accelerate our pace of innovation and expand our portfolio of solutions that deliver business value to customers. This technology expansion reinforces our focus on customer needs and our ability to accelerate the development of our growth platforms."

"Our new facility will be four times the size of our existing research facilities and will offer us greater capabilities and resources with people dedicated to development and innovation," said Janet Mann, Sr. Vice President of Marketing and Technology. "This location was chosen specifically with our customers in mind and will allow us to have these resources in close proximity to our corporate offices to conduct customer trials, ideation sessions, and training."

Spartech Corporation is a leading producer of plastic products including polymeric compounds, concentrates, custom extruded sheet and rollstock products, and packaging technologies for a wide spectrum of customers. The Company's three business segments, which operate facilities in the United States, Mexico, Canada, and France, annually process approximately one billion pounds of plastic resins, specialty plastic alloys, and color and specialty compounds.

Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events and expectations and include statements containing such words as "anticipates," "believes," "estimates," "expects," "intends," "may," "would," "should," "will," "will likely result," "forecast," "outlook," "projects," and similar expressions. Forward-looking statements are based on management's current expectations and include known and unknown risks, uncertainties and other factors, many of which management is unable to predict or control, that may cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties include, but are not limited to, those risk and uncertainties described in Spartech's most recent Annual Report on Form 10-K under "Cautionary Statement Concerning Forward-Looking Statements" and "Risk Factors." These reports can be accessed through the "Investors" section of Spartech's website at Spartech assumes no responsibility to update forward-looking statements, except as required by law.

Contact Information

  • Company Contacts:
    Myles S. Odaniell
    President and Chief Executive Officer
    (314) 721-4242

    Randy C. Martin
    Executive VP and Chief Financial Officer
    (314) 721-4242