Maguire & Novatec Investing in New Products Instead of Exhibiting at NPE 2009

Maguire Products and NOVATEC, Inc. have decided that investing in employees, new products and product improvements better serves customers’ needs during this economy.

BALTIMORE, MD, U.S.A., April 27, 2009 - Maguire Products and Novatec, Inc. report that after months of conversations with customers, SPI officials and other exhibitors, they have made the decision to invest their resources, budgeted for NPE 2009, in activities that will directly benefit their customers.

Steve Maguire, President of Maguire Products and major stockholder of NOVATEC and Conrad Bessemer, President & CEO of NOVATEC make this joint announcement. “Under normal circumstances we would be building equipment to display at NPE and be spending hundreds of thousands of dollars to present our company’s products to customers during the upcoming 5-day show – but these are not normal times. We are in the midst of a serious recession and we have to question the sense of spending our customers’ money on a 5-day exhibit. After all, every dollar we spend comes from our valuable customers so we should use that money in ways that best benefit our customers.”

“In these extraordinarily trying times for manufacturers and processors, there are much better ways to educate our customers on new equipment that can save them labor, resin and/or energy. One example we’ll be announcing soon will be a 24/7 virtual trade show that will allow processors to have guided tours of new technology, just like at a trade show, from the convenience of their own computer”.

Conrad and Steve continue, “NOVATEC and Maguire have both invested in developing advanced drying, blending and conveying technology that produces huge savings for many processors. We hold multiple patents on dryers for plastics and other products. During these times of recession and high energy costs, it is more important than ever that we show all processors how they can benefit from these patented technologies and invent new ones. The energy and material savings are so great that, in many cases, processors can show an immediate positive cash flow after installation of new, energy-saving, drying equipment or after purchasing our blenders and feeders.
Steve adds, ” We continue to work on equipment improvements and will invent new ways to create savings for our customers but that takes substantial investment in design, engineering and setting up production facilities to economically produce those new products.”

Conrad is enthusiastic about the future, claiming, “We are convinced that by taking the long view and investing in new technology instead of going to a show, ‘just because our competitors are there’, is the right thing to do…for our customers. During the last year we have developed several new technologies in drying including building larger Infrared Drying Units, our new IntelliPET drying product line and more. In fact, we are working on four additional patentable drying updates that we expect to announce in 2009. It just didn’t make sense for us to slow down on all this new energy-saving drying technology and research simply to pay for five days in Chicago during June.”
Steve Maguire adds, “This decision isn’t an overall cost cutting move for either of our companies. Instead it is just a decision we have made as to where best to spend the money. By not attending the show, we’ll be enhancing our web program, preserving jobs and, in fact, dramatically accelerating our new technology programs. Although we really enjoy the congeniality of the show, we think the best investment for our company and especially our customers will be to deploy the show expenditures in much better ways which will provide much better return on investment to all of us.”

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NOVATEC, INC. is a leading supplier of resin drying, blending, and pneumatic conveying systems to plastics processors. The company specializes in custom-engineered material handling systems that meet specific process and production requirements. Its range of dryers is the broadest in the industry, including IntelliPET drying systems, infrared systems for crystallizing and drying PET, as well as the patented NovaDrier™ membrane dryer, the NovaWheel™ desiccant wheel dryer, and the NovaVac II™ vacuum dryer. NOVATEC, Inc. is headquartered at 222 East Thomas Avenue, Baltimore, MD 21225 U.S.A. Tel: 410-789-4811. Fax: 410-789-4638. Email: sales@novatec.com.

MAGUIRE PRODUCTS, INC., headquartered in Aston, Pennsylvania, U.S.A., is the world’s largest supplier of gravimetric blenders and liquid color pumps and also manufactures loading systems, dryers, auger feeders, and related equipment and software. Its customers include injection, blow, and rotational molders, extrusion processors, and compounders. Founded in 1977, Maguire operates six manufacturing facilities in Aston, PA, U.S.A. The company maintains a network of distributors in the Americas and overseas and has three sales and service subsidiaries that stock, sell, and service auxiliary equipment systems from Maguire and its affiliate, Novatec, Inc.: Maguire Canada, headquartered in Vaughan, Ontario; Maguire Europe, supporting customers throughout Europe and operating a distribution center in Tamworth, Staffordshire, UK; and Singapore-based Maguire Asia, serving customers throughout South Asia and the Pacific Rim. Visit the Maguire Products web site: www.maguire.com