Imaflex working on five-layer co-extruder installation
2019-03-28 18:08 ET - News Release
Mr. Joe Abbandonato reports
IMAFLEX PROVIDES BUSINESS UPDATE CONCERNING NEW COEXTRUDER AND ADVASEAL TRIALS
Imaflex Inc. has provided a business update concerning the new five-layer co-extruder and Advaseal trials.
New five-layer co-extruder installation under way
“We are pleased to report that all components for the new 5 layer co-extruder have been received and assembly and installation is underway,” commented Joe Abbandonato, President and Chief Executive Officer of Imaflex. As a result of some unexpected delivery delays on the part of the manufacturer, it is now expected to be in operation around the end of the second quarter of 2019. Once fully operational, it should increase production capacity by approximately four million pounds annually.
Advaseal field trials expected to commence Fall 2019
“Important progress continues to be made with a multi-national technology leader in the production of Advaseal ,” highlighted Mr. Abbandonato. The contract manufacturer is staffed with qualified chemists, process engineers and production technicians that are adept at working with chemicals and developing new products. “Numerous trials have already taken place at their facility and we are increasingly confident they will be able to provide coated film for upcoming efficacy field trials.”
“Due to the recent partial U.S. federal government shutdown, we experienced unusually long delays obtaining import permits for the active ingredients to be used with Advaseal and did not receive the chemicals in time for the spring 2019 growing season. The active ingredients are now being received and we are cautiously optimistic field tests will be completed by year-end 2019. Having demonstrated and proven that our herbicidal release film, Advaseal HSM, works, we are confident that the additional crop protection chemicals in the new Advaseal will release into the soil in a similar manner.”
Fourth Quarter and Calendar Year 2018 Reporting Date
Imaflex will report its consolidated financial results for the fourth quarter and calendar year ended
December 31, 2018 on April 18, 2019.