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For Immediate Release

TSX Venture Exchange Symbol: PMA
SEC Exempt: 82 4585
Issued/Outstanding: 34,293,689

 

 

Polyphalt Corporate Announcement

 

(Toronto, Canada, September 24, 2002)  Polyphalt announced today that Mr. Holger Kluge and Mr. Stephen Tsang will resign from its Board of Directors effective September 30, 2002.  Mr. Bruce MacDonald and Ms. Anthea Radford will be appointed to the Board effective October 1, 2002.

Mr. Kluge joined the Board of Directors in 2000 and has been involved in various committees supporting the business at Polyphalt. We thank him for his contribution and wish him success in his future endeavors. Mr. Stephen Tsang has also served as a Director since 2000 and will remain as the Chief Financial Officer of the corporation.

Mr. MacDonald is currently the Managing Director - Shared Services for Hatch. Prior to Hatch, he has held numerous senior positions including the President, CEO of Allstate Insurance Company; the Senior Vice President General Manager of Xerox Canada Financial Inc, and American Express Canada Inc. He also launched a successful consulting practice focusing on development and analysis of strategic solutions and has extensive experience as a company director. He holds a Bachelor’s degree and is a Certified General Accountant. Mr. MacDonald will chair the Audit committee for Polyphalt and participate in the Corporate Governance committee.

Ms. Radford is a lawyer whose consulting practice specializes in board development and governance design.  She has an extensive background in the field of corporate governance, including over seventeen years in the public and private sectors as a special advisor to Boards, Chairs, and CEO’s.  Seven of those years were spent in advising key players in Canada’s financial services sector, including serving as Assistant Corporate Secretary to the Canadian Imperial Bank of Commerce.  She is also a Director of the Mississauga Living Arts Centre. Ms. Radford will chair the Human Resources committee for Polyphalt and participate in the Corporate Governance committee.     

Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel Polymer Modified Asphalt products and technology to serve North American and international infrastructure markets. Polyphalt has a broad portfolio of proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials. These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products. Polyphalt’s international license network comprises thirteen leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Europe and China. In February 2001, Polyphalt acquired GH International, a leading Canadian producer of roof coatings, adhesives and pavement maintenance products.

Polyphalt is a member of the Cheung Kong Infrastructure group of companies.  CKI is the largest publicly listed infrastructure company in Hong Kong with investment in Hong Kong Electric, infrastructure investments, infrastructure materials and infrastructure-related businesses. The company has operations in Hong Kong, Mainland China, Australia, Canada and the Philippines.

For further information, please contact:
Polyphalt Inc.
Douglas Kong, President & C.E.O.
Tel: 416-491-9292
Fax: 416-491-9766
e-mail : corp@polyphalt.com

   
Forward Looking Statements

This report contains forward-looking statements that involve risk and uncertainties beyond the Company’s ability to control or predict. Future results may differ materially from project results depending on factors such as competition, changes in industry structure and alliances, reduced product demand, raw material shortages, price volatility or other factors. Readers are cautioned not to place undue reliance on such forward-looking statements.

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For Immediate Release

TSX Venture Exchange Symbol: PMA
SEC Exempt: 82 4585
Issued/Outstanding: 34,293,689

Polyphalt Revenues Grow to $ 4.7 Million in First Six Months

 

(Toronto, August 16, 2002)  Polyphalt Inc. is pleased to report results of operations for the half year and second quarter, ended June 30, 2002. Polyphalt’s revenues for the first six months of the year were $ 4.7 million, an increase of $ 298,000 compared to the prior period. The company reported a loss of $ 694,490 for the half year compared to a loss of $ 699,919 in the same period of 2001. The EBITDA for the first half of the year was $ 398,656, an improvement of $ 128,000 over the comparable period for 2001.

A summary of financial performance for the period is provided in the Table below: -

Second Quarter Financial Highlights (Unaudited, stated in Canadian Dollars)

 

Three Months Ended June 30

Six Months Ended June 30

 

2002

2001

2002

2001

Revenues

3,188,784

3,090,970

4,678,614

4,380,800

Gross Margin

1,171,079

1,018,871

1,652,277

1,564,012

Expenses

1,253,676

1,373,926

2,246,385

2,271,993

EBITDA

     16,560

   (277,007)

   (398,656)

  (526,575)

Loss for the Period

  (144,334)

   (375,465)

   (694,490)

  (699,919)

Loss per common share

-

(0.01)

(0.02)

(0.02)

 

During the quarter Polyphalt continued to actively pursue new licensing agreements with a new North American license agreement finalized in the second quarter. This new licensee in Oklahoma will be building a polymer modified asphalt plant based on Polyphalt design. Polyphalt also continues to develop its Dri Mix products, a formulated polymeric modifier in powder form specially designed for use in asphalt modification. Initial trials were successful and the product will be marketed under the trademark PolyblendTM.

Our GHI subsidiary continued its efforts to streamline the business by product rationalization and relaunching of two brands, ExcelTM and Shur StikTM. This consolidation has also resulted in an improvement in service and quality with on time deliveries reaching the 90% level. GHI has launched a new web site in the second quarter: www.ghinternational.ca. The web site will provide customers with instantaneous access to detailed technical and safety information, allowing GHI to improve customer awareness and service

Polyphalt management continues to be optimistic that performance will improve over 2001. Polyphalt also started a strategic planning exercise that will focus the company on the future and establish direction for Polyphalt to grow its business profitably over time.

Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel Polymer Modified Asphalt products and technology to serve North American and international infrastructure markets. Polyphalt has a broad portfolio of proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials. These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products. Polyphalt’s international license network comprises thirteen leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Europe and China. In February 2001, Polyphalt acquired GH International, a leading Canadian producer of roof coatings, adhesives and pavement maintenance products.

Polyphalt is a member of the Cheung Kong Infrastructure group of companies.  CKI is the largest publicly listed infrastructure company in Hong Kong with investment in Hong Kong Electric, infrastructure investments, infrastructure materials and infrastructure-related businesses. The company has operations in Hong Kong, Mainland China, Australia, Canada and the Philippines.

For further information, please contact:
Polyphalt Inc.
Douglas Kong, President & C.E.O.
Tel: 416-491-9292
Fax: 416-491-9766
e-mail : corp@polyphalt.com

   
Forward Looking Statements

This report contains forward-looking statements that involve risk and uncertainties beyond the Company’s ability to control or predict. Future results may differ materially from project results depending on factors such as competition, changes in industry structure and alliances, reduced product demand, raw material shortages, price volatility or other factors. Readers are cautioned not to place undue reliance on such forward-looking statements.

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For Immediate Release

TSX Venture Exchange Symbol: PMA
SEC Exempt: 82 4585
Issued/Outstanding: 34,293,689

  Polyphalt Corporate Announcement

(Toronto, Canada, June 11, 2002)  Polyphalt Inc. (TSX Venture:  YPY) announced today that Mr. Robert Barnett has resigned from its Board of Directors and that he will not stand as a nominee Director of the Corporation at its next annual general meeting to be held June 12, 2002.

Mr. Barnett joined the Board of Directors in 1998 and was a past Chairman of the Board. He was involved in various committees supporting the business at Polyphalt. We thank him for his contribution and wish him success in his future endeavors.

Polyphalt management proposes to nominate Mr. Stephen Tsang for election as a Director of the Corporation at its next annual general meeting. Mr. Tsang, CGA, FCCA, AHKSA, is the Chief Financial Officer of the Corporation and has served as a Director since 2000. Prior to joining the Corporation, he was the Accounting Manager of APM Inc. (Toronto, Ontario), Accounting Manager of Anderson Asia (Holdings) Limited and the Finance Manager of Hutchison Delta Ports Investments Limited. Mr. Tsang has worked for the Cheung Kong and Hutchison Whampoa groups in Hong Kong and mainland China for over 14 years.

Polyphalt is a publicly traded, Canadian based, Technology Company that develops and commercializes novel Polymer Modified Asphalt products and technology to serve North American and international infrastructure markets. Polyphalt has a broad portfolio of proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials. These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products. Polyphalt’s international license network comprises thirteen leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Europe and China. In February 2001, Polyphalt acquired GH International, a leading Canadian producer of roof coatings, adhesives and pavement maintenance products.

Polyphalt is a member of Cheung Kong Infrastructure group of companies. CKI is the largest publicly listed infrastructure company in Hong Kong with investment in Hong Kong Electric, infrastructure investments, infrastructure materials and infrastructure-related businesses. The company has operations in Hong Kong, mainland China, Australia, Canada and the Philippines. The Cheung Kong group, of which CKI is a member, has a total estimated market capitalization of US$ 68 billion as of October 23, 2001.

 

For further information, please contact:
Polyphalt Inc.
Douglas Kong, President & C.E.O.
Tel: 416-491-9292
Fax: 416-491-9766
e-mail : corp@polyphalt.com

   
Forward Looking Statements

This report contains forward-looking statements that involve risk and uncertainties beyond the Company’s ability to control or predict. Future results may differ materially from project results depending on factors such as competition, changes in industry structure and alliances, reduced product demand, raw material shortages, price volatility or other factors. Readers are cautioned not to place undue reliance on such forward-looking statements.

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For Immediate Release

CDNX Symbol: PMA
SEC Exempt: 82 4585
Issued/Outstanding: 34,293,689

  Polyphalt Revenues Grow to $ 1.5 Million in First Quarter

 (Toronto, April 26, 2002)  Polyphalt Inc. is pleased to report results for the first quarter of operations, ended March 31, 2002. Polyphalt’s revenues for the first quarter of the year were $ 1.5 million, an increase of $ 200,000 compared to the prior period. The company reported a loss of $ 550,156 for the first quarter compared to a loss of $ 324,454 in the same period of 2001. This loss reflects the seasonality of our business and also due to a reduction of non-recurring license fee payments. There is a non-recurring license fee payment of $ 200,000 included in 2001 result. Since Polyphalt acquired GH International in February 2001, the first quarter of 2001 included only one and half months of manufacturing revenue and operating result compared to three months for 2002.

A summary of financial performance for the period is provided in the Table below: -

 First Quarter Financial Highlights (Unaudited, stated in Canadian Dollars) 

 

 

Three Months Ended

 

March 31, 2002

March 31, 2001

Revenues

1,489,830

1,289,830

Gross Margin

481,198

545,141

Expenses

992,709

898,067

EBITDA

(415,215)

(249,568)

Loss for the Period

(550,156)

(324,454)

Loss per common share

(0.02)

(0.01)

During the quarter Polyphalt continues to actively pursue new licensing agreements with a new North American license agreement expected to be finalized in the second quarter. Our GHI subsidiary continued its efforts to streamline the business by product rationalization and re-launching of two brands, ExcelTM and Shur StikTM. The initial reactions from retailers are positive.

With the anticipated recovery of the economy in North America for the second half of 2002 and our continuous efforts in streamlining our business, management is optimistic that Polyphalt will have an improved performance over 2001. In order to control costs, management will also contain overhead expenses during 2002.

Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel Polymer Modified Asphalt products and technology to serve North American and international infrastructure markets. Polyphalt has a broad portfolio of proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials. These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products. Polyphalt’s international license network comprises thirteen leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Europe and China. In February 2001, Polyphalt acquired GH International, a leading Canadian producer of roof coatings, adhesives and pavement maintenance products.

Polyphalt is a member of Cheung Kong Infrastructure group of companies. CKI is the largest publicly listed infrastructure company in Hong Kong with investment in Hong Kong Electric, infrastructure investments, infrastructure materials and infrastructure-related businesses. The company has operations in Hong Kong, mainland China, Australia, Canada and the Philippines.

For further information, please contact:
Polyphalt Inc.
Douglas Kong, President & C.E.O.
Tel: 416-491-9292
Fax: 416-491-9766
e-mail : corp@polyphalt.com

   
Forward Looking Statements

This report contains forward-looking statements that involve risk and uncertainties beyond the Company’s ability to control or predict. Future results may differ materially from project results depending on factors such as competition, changes in industry structure and alliances, reduced product demand, raw material shortages, price volatility or other factors. Readers are cautioned not to place undue reliance on such forward-looking statements.

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For Immediate Release

CDNX Symbol: PMA
SEC Exempt: 82 4585
Issued/Outstanding: 34,248,199


Polyphalt Inc. Annual and Special Meeting of Shareholders

(Toronto, Canada, April 5, 2002)  Polyphalt Inc. is pleased to inform its shareholders and other interested parties that its Annual and Special Meeting of Shareholders will be held on Wednesday June 12, 2002 at 4:00 pm at The Toronto Board of Trade, One First Canadian Place, Toronto, Ontario M5X 1C1.  The date of record for the meeting will be Wednesday May 1, 2002.

Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel polymer modified asphalt products and technology to serve North American and international infrastructure markets. Polyphalt has a broad portfolio of proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.   These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products. Polyphalt's international licensee network comprises thirteen leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Europe and China.   In February 2001, Polyphalt acquired GH International, a leading Canadian producer of roof coatings, adhesives and pavement maintenance products.

Polyphalt is a member of the Cheung Kong Infrastructure group of companies.   CKI is the largest publicly listed infrastructure company in Hong Kong with investment in Hong Kong Electric, infrastructure investments, infrastructure materials and infrastructure-related businesses.   The company has operations in Hong Kong, Mainland China, Australia, Canada and the Philippines.


Polyphalt shares trade on the Canadian Venture Capital Exchange (CDNX) Tier 2 with the ticker symbol “PMA”.

For further information please contact:

Polyphalt Inc.   
Zhi Zhong Liang,
Tel: 416 491-9292                           
Fax 416 491-9766
e-mail corp@polyphalt.com

Forward Looking Statements

This report contains forward-looking statements that involve risk and uncertainties beyond the Company’s ability to control or predict. Future results may differ materially from project results depending on factors such as competition, changes in industry structure and alliances, reduced product demand, raw material shortages, price volatility or other factors. Readers are cautioned not to place undue reliance on such forward-looking statements.

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For Immediate Release

CDNX Symbol: PMA
SEC Exempt: 82 4585
Issued/Outstanding: 34,248,199

Polyphalt Corporate Announcement

(Toronto, Canada, March 11 2002)    Polyphalt Inc. announced today that Douglas Kong has been appointed President and Chief Executive Officer.

 An MBA and CMA, Douglas Kong brings to the company over 20 years of Canadian expertise and experience in business planning, financial engineering, mergers, acquisitions, marketing and sales.   He has multi-cultural skills enhanced by extensive global business experience.   He has been both a Chief Financial Officer and a Chief Executive Officer and has a history of successfully managing smaller companies through periods of rapid growth.

 Barrie Cook, Chairman of the Board of Directors said “I am very pleased that Douglas has decided to join Polyphalt and I am sure that his particular style and blend of skills will reinforce and expand our existing skills in a positive and mutually beneficial manner.   I am confident that Douglas is well qualified to lead Polyphalt Inc. forward to profitable growth.”

 Douglas will take up his duties with Polyphalt on April 22, 2002

Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel polymer modified asphalt products and technology to serve North American and international infrastructure markets. Polyphalt has a broad portfolio of proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.   These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products. Polyphalt's international licensee network comprises thirteen leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Europe and China.   In February 2001, Polyphalt acquired GH International, a leading Canadian producer of roof coatings, adhesives and pavement maintenance products.

Polyphalt is a member of the Cheung Kong Infrastructure group of companies.   CKI is the largest publicly listed infrastructure company in Hong Kong with investment in Hong Kong Electric, infrastructure investments, infrastructure materials and infrastructure-related businesses.   The company has operations in Hong Kong, Mainland China, Australia, Canada and the Philippines.

Polyphalt shares trade on the Canadian Venture Capital Exchange (CDNX) Tier 2 with the ticker symbol “PMA”.

For further information please contact:

Polyphalt Inc.   
Zhi Zhong Liang,
Tel: 416 491-9292                           
Fax 416 491-9766
e-mail corp@polyphalt.com

Forward Looking Statements

This report contains forward-looking statements that involve risk and uncertainties beyond the Company’s ability to control or predict. Future results may differ materially from project results depending on factors such as competition, changes in industry structure and alliances, reduced product demand, raw material shortages, price volatility or other factors. Readers are cautioned not to place undue reliance on such forward-looking statements.

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For Immediate Release

CDNX Symbol: PMA
SEC Exempt: 82 4585
Issued/Outstanding: 34,248,199

Polyphalt Revenues Grow to $9.4 Million in 2001

 

(Toronto, Canada, February 26, 2002)  Polyphalt Inc. reported results for the fiscal year ending December 31, 2001.   Polyphalt’s revenues for the year grew to $9.4 million, an increase of approximately $7.5 million over the prior fiscal year, the nine-month period ending December 31, 2001.   The company recorded a loss for the year of $2.1 million versus a loss of $0.4 million for the prior fiscal year.

Polyphalt’s Annual General Meeting will be held on June 12, 2002 in Toronto and it will release the formal notice and other materials, including its Annual Report to Shareholders, on or before May 8, 2002.

Highlights of the 2001 fiscal year included:

§         In February, the Company acquired the assets of GH International, a leading Toronto based Canadian manufacturer of roofing, adhesive and pavement maintenance products.

§         In July, Polyphalt completed its first license agreement in Eastern Europe.   PBDiM is Poland’s second largest road construction company and it has recently completed construction of new polymer modified asphalt facilities.

§         Polyphalt’s Master Licensee in China announced its first joint venture in June as it entered into an agreement with Liaohe Refinery in Liaoning Province, north east of Beijing.   The joint venture’s polymer modified asphalt facility is expected to begin full-scale commercial operations in 2002.

§         Over the course of the year, key Polyphalt patents continued to strengthen the Company’s intellectual property portfolio.

It is relevant to note that the prior year period, against which the following results are being compared, did not include the first calendar quarter of 2000 due to the company’s change in fiscal year end.

The loss for the FYE 2001 reflects:

§                The economic downturn experienced in North America.

§                Disappointing results from the acquisition made in February 2001.

§                A non-cash write-down of the carrying value of certain intellectual property.

§                A one-time provision for a severance payment.


A summary of the fiscal year financial highlights is set out below in Canadian dollars: 

 

12 Months Ending

Dec. 31, 2001

 

9 Months Ending

Dec. 31, 2000

Revenue

9,400,683

1,909,657

Gross Margin

3,035,239

1,566,370

Expenses

4,681,190

1,734,984

EBITDA

(1,645,951)

(168,614)

Amortization

345,441

499,434

EBIT

(1,991,292)

(668,048)

Interest Income

256,175

376,745

Interest Expense

(334,444)

(106,788)

Profit /(Loss) for the period

(2,069,661)

(398,091)

Earnings /(Loss) per common share (basic & diluted)

(0.06)

(0.01)


The Board of Directors is disappointed with the results and has initiated steps, which it believes will improve the performance of Polyphalt Inc.   While the Company is still cautious regarding the outlook of the North American economy and its impact on Polyphalt’s customers in fiscal year 2002, it believes that it has world-class leading technologies, and that having $6.2 million on cash and cash equivalents as at December 31, 2001, the Company has sufficient financial resources to exploit them and expects improved results during the current year.

Polyphalt is a member of the Cheung Kong Infrastructure group of companies.   CKI is the largest publicly listed infrastructure company in Hong Kong with investment in Hong Kong Electric, infrastructure investments, infrastructure materials and infrastructure-related businesses. The company has operations in Hong Kong, China, Australia, Canada and the Philippines.

Polyphalt shares trade on the Canadian Venture Capital Exchange (CDNX) Tier 2 with the ticker symbol “PMA”.

For further information please contact:

Polyphalt Inc.   
Zhi Zhong Liang,
Tel: 416 491-9292                           
Fax 416 491-9766
e-mail corp@polyphalt.com

Forward Looking Statements

This report contains forward-looking statements that involve risk and uncertainties beyond the Company’s ability to control or predict. Future results may differ materially from project results depending on factors such as competition, changes in industry structure and alliances, reduced product demand, raw material shortages, price volatility or other factors. Readers are cautioned not to place undue reliance on such forward-looking statements.

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For Immediate Release

CDNX Symbol: PMA
SEC Exempt: 82 4585
Issued/Outstanding: 34,248,199

Polyphalt Corporate Announcement

 (Toronto, Canada, January 31, 2002)  Polyphalt Inc. announced today that Bruce Harbinson, President and Chief Executive Officer, has tendered his resignation effective February 19, 2002.  Mr. Harbinson has served as President and C.E.O. of Polyphalt since the Company’s formation in 1992. He will remain a Director of the Company. 

 “Bruce has been instrumental in all aspects of Polyphalt’s growth over the past decade.  From scratch, he has built an excellent team, a broad portfolio of proprietary technologies and a global network of licensees and customers.  These building blocks form the basis for our future growth,” said Barrie Cook, Chairman of the Board of Polyphalt.  “We would like to thank Bruce for his efforts and wish him the best in his future endeavours.”

 “I have enjoyed an immensely rewarding decade leading Polyphalt forward in the fast growing global market for high performance asphalt products and technologies.  With the backing of Cheung Kong Infrastructure, Polyphalt is poised for tremendous growth in the years ahead.  While I am moving on to pursue new horizons, I certainly look forward to maintaining a close association with the organization.” said Mr. Harbinson

 Polyphalt plans to appoint a new President and Chief Executive Officer shortly.  Mr. Zhi Zhong Liang, Vice-President of Technology, will act as interim President and CEO, effective February 19, 2002.

Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel Polymer Modified Asphalt products and technology to serve North American and international infrastructure markets. Polyphalt has a broad portfolio of proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials. These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products. Polyphalt's international licensee network comprises thirteen leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Europe and China. In February 2001, Polyphalt acquired GH International, a leading Canadian producer of roof coatings, adhesives and pavement maintenance products.

Polyphalt is a member of the Cheung Kong Infrastructure group of companies.  CKI is the largest publicly listed infrastructure company in Hong Kong with investment in Hong Kong Electric, infrastructure investments, infrastructure materials and infrastructure-related businesses. The company has operations in Hong Kong, Mainland China, Australia, Canada and the Philippines.

For further information please contact:

Polyphalt Inc.   
Zhi Zhong Liang,
Tel: 416 491-9292                           
Fax 416 491-9766
e-mail corp@polyphalt.com

Forward Looking Statements

This report contains forward-looking statements that involve risk and uncertainties beyond the Company’s ability to control or predict. Future results may differ materially from project results depending on factors such as competition, changes in industry structure and alliances, reduced product demand, raw material shortages, price volatility or other factors. Readers are cautioned not to place undue reliance on such forward-looking statements.

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For Immediate Release

CDNX Symbol: YPY
SEC Exempt: 82 4585
Issued/Outstanding: 34,349,699

Polyphalt Inc. Approved for Upgraded CDNX Listing

(TORONTO, December 27, 2001)  Polyphalt Inc. is pleased to report that the Executive Listing Committee of the Canadian Venture Exchange (CDNX) has approved the upgrading of Polyphalt to Tier 2 status effective as of Monday December 24, 2001.  The new status is reflective of Polyphalt’s rapid growth and maturation and will benefit Canadian shareholders wishing to purchase and hold Polyphalt shares in their Registered Retirement Savings Plan.

 All shareholders and stakeholders should note that the new status will also be accompanied by a change in trading symbol.  Effective Thursday December 27’th, 2001 Polyphalt shares will begin trading under the symbol PMA.  This symbol has been selected to reflect Polyphalt’s commitment to building its position as a world leader in the market for polymer modified asphalt (PMA) products, technology and services.

The CDNX is Canada's public venture capital marketplace providing emerging companies with access to capital while offering investors a well-regulated market in which to make venture investments. CDNX listed companies are active in the mining, oil and gas, manufacturing, technology, financial services and other sectors.



Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel Polymer Modified Asphalt  products and technology to serve North American and international infrastructure markets.  Polyphalt has a broad portfolio of proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.  These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products.  Polyphalt's international licensee network comprises thirteen leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Europe and China. In February, 2001, Polyphalt acquired GH International, a leading Canadian producer of roof coatings, adhesives and pavement maintenance products.

Polyphalt is a member of the Cheung Kong Infrastructure group of companies.  CKI is the largest publicly listed infrastructure company in Hong Kong with investment in Hong Kong Electric, infrastructure investments, infrastructure materials and infrastructure-related businesses. The company has operations in Hong Kong, Mainland China, Australia,


For further information, please contact us at:


For Polyphalt Inc.        Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario         
         info@polyphalt.com
                                        M2J 5C9

 

Forward Looking Statements

This report contains forward-looking statements that involve risk and uncertainties beyond the Company’s ability to control or predict. Future results may differ materially from project results depending on factors such as competition, changes in industry structure and alliances, reduced product demand, raw material shortages, price volatility or other factors. Readers are cautioned not to place undue reliance on such forward-looking statements.

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For Immediate Release

CDNX Symbol: YPY
SEC Exempt: 82 4585
Issued/Outstanding: 34,349,699

Polyphalt Inc. to Present at New York Investors Conference

TORONTO, Nov. 12, 2001- Polyphalt Inc., is pleased to announce that its President and C.E.O., Bruce Harbinson, will be making an in-depth presentation on Polyphalt to the New York investment community on Wednesday November 14, 2001. The presentation will be part of the Equities Magazine Fall Conference which features CEOs of emerging growth companies. In addition to the live presentation, Mr. Harbinson's presentation will be transmitted simultaneously via web-cast to investors throughout North America. 



Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel Polymer Modified Asphalt  products and technology to serve North American and international infrastructure markets.  Polyphalt has a broad portfolio of proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.  These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products.  Polyphalt's international licensee network comprises thirteen leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Europe and China. In February, 2001, Polyphalt acquired GH International, a leading Canadian producer of roof coatings, adhesives and pavement maintenance products.

Polyphalt is a member of the Cheung Kong Infrastructure group of companies.  CKI is the largest publicly listed infrastructure company in Hong Kong with investment in Hong Kong Electric, infrastructure investments, infrastructure materials and infrastructure-related businesses. The company has operations in Hong Kong, Mainland China, Australia,


For further information, please contact us at:


For Polyphalt Inc.        Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario         
         info@polyphalt.com
                                        M2J 5C9

 

Forward Looking Statements

This report contains forward-looking statements that involve risk and uncertainties beyond the Company’s ability to control or predict. Future results may differ materially from project results depending on factors such as competition, changes in industry structure and alliances, reduced product demand, raw material shortages, price volatility or other factors. Readers are cautioned not to place undue reliance on such forward-looking statements.

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For Immediate Release

CDNX Symbol: YPY
SEC Exempt: 82 4585
Issued/Outstanding: 34,349,699

Polyphalt Revenues Grow to $7.4 Million in First Nine Months

 (TORONTO, November 9, 2001)  Polyphalt Inc., is pleased to report results for the nine months and third quarter of operations, ended September 30, 2001.  Polyphalt’s revenues for the first nine months of the year were $7.4 million, an increase of approximately $5.8 million, as compared to the prior period. The company recorded a loss for the nine month period of $861,954, an improvement of $220,578 over the same period in 2000.  

 A summary of financial performance for the period is provided in the Table below.

 Third Quarter Financial Highlights (Unaudited, Stated in Canadian Dollars)

 

 Three Months Ended Sept. 30

 

 Nine Months Ended Sept. 30

 

2001

 

2000

 

2001

 

2000

 

 

 

 

 

 

 

 

 Revenue

3,063,085

 

       740,145

 

         7,443,885

 

         1,655,068

 

 

 

 

 

 

 

 

Gross Margin

948,992

 

      552,296

 

         2,513,004

 

         1,268,979

 

 

 

 

 

 

 

 

Expenses

985,257

 

       655,409

 

      3,075,844

 

         1,924,637

 

 

 

 

 

 

 

 

EBITDA

(36,265)

 

       (103,113)

 

       (562,840)

 

       (655,658)

 

Profit/(Loss) for the Period

(162,035)

 

  (186,546)

 

       (861,954)

 

 (1,082,532)

 

 

 

 

 

 

 

 

Earnings/(Loss) per common share (basic & diluted)

                   -

 

(0.01)

 

             (0.03)

 

             (0.04)

 
 
Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel Polymer Modified Asphalt products 

 

Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel Polymer Modified Asphalt  products and technology to serve North American and international infrastructure markets.  Polyphalt has a broad portfolio of proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.  These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products.  Polyphalt's international licensee network comprises thirteen leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Europe and China. In February, 2001, Polyphalt acquired GH International, a leading Canadian producer of roof coatings, adhesives and pavement maintenance products.

Polyphalt is a member of the Cheung Kong Infrastructure group of companies.  CKI is the largest publicly listed infrastructure company in Hong Kong with investment in Hong Kong Electric, infrastructure investments, infrastructure materials and infrastructure-related businesses. The company has operations in Hong Kong, Mainland China, Australia,


For further information, please contact us at:


For Polyphalt Inc.        Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario         
         info@polyphalt.com
                                        M2J 5C9

 

Forward Looking Statements

This report contains forward-looking statements that involve risk and uncertainties beyond the Company’s ability to control or predict. Future results may differ materially from project results depending on factors such as competition, changes in industry structure and alliances, reduced product demand, raw material shortages, price volatility or other factors. Readers are cautioned not to place undue reliance on such forward-looking statements.

   Back To Top

 

 

For Immediate Release

CDNX Symbol: YPY
SEC Exempt: 82 4585
Issued/Outstanding:
34,252,433

Polyphalt Announces Share Buyback Program

(Toronto August 29, 2001) Polyphalt Inc. today announced that the Canadian Venture Exchange (the “CDNX”) has accepted a notice of intention to make a Normal Course Issuer Bid previously filed by the Company with the CDNX.

Pursuant to the terms of the bid, the Company will purchase its own common shares for cancellation through the facilities of the CDNX at the prevailing market price of the common shares.  The Company is seeking to acquire a maximum of 1,712,621 common shares, which represents 5 % of the aggregate number of issued and outstanding common shares. The Company will effect purchases at varying times commencing on or after September 4, 2001 and continuing until September 3, 2002 at the latest. 

The Company believes that, from time to time, the market price of its common shares does not fully reflect the value of current and future business prospects. Consequently, the Company is of the view that the repurchase of common shares will, in the appropriate circumstances, provide an economically worthwhile investment for the Company and an appropriate and desirable use of its available funds.

Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel Polymer Modified Asphalt  products and technology to serve North American and international infrastructure markets.  Polyphalt has a broad portfolio of proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.  These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products.  Polyphalt's international licensee network comprises thirteen leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Europe and China. In February, 2001, Polyphalt acquired GH International, a leading Canadian producer of roof coatings, adhesives and pavement maintenance products.

Polyphalt is a member of the Cheung Kong Infrastructure group of companies.  CKI is the largest publicly listed infrastructure company in Hong Kong with investment in Hong Kong Electric, infrastructure investments, infrastructure materials and infrastructure-related businesses. The company has operations in Hong Kong, Mainland China, Australia,


For further information, please contact us at:


For Polyphalt Inc.        Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario         
         info@polyphalt.com
                                        M2J 5C9

 

Forward Looking Statements

This report contains forward-looking statements that involve risk and uncertainties beyond the Company’s ability to control or predict. Future results may differ materially from project results depending on factors such as competition, changes in industry structure and alliances, reduced product demand, raw material shortages, price volatility or other factors. Readers are cautioned not to place undue reliance on such forward-looking statements.

   Back To Top

 

 

For Immediate Release

CDNX Symbol: YPY
SEC Exempt: 82 4585
Issued/Outstanding:
34,252,433

Polyphalt Revenues Grow to $4.4 Million in First Six Months
 

(TORONTO, August 21, 2001)  Polyphalt Inc., is pleased to report results for the half year and second quarter of operations, ended June 30, 2001.  Polyphalt’s revenues for the first six months of the year were $4.4 million, an increase of approximately $3.5million, as compared to the prior period. The company recorded a loss for the half year period of $699,919, an improvement of $196,067 over the same period in 2000.  During the quarter we built the management team at our recently acquired GHI operations, announced significant developments in our China licensing program and, subsequent to the end of the quarter, announced another important international license agreement in Poland, bring our network of global partners to 13 licensees.

A summary of financial performance for the period is provided in the Table below.

Second Quarter Financial Highlights (Unaudited, Stated in Canadian Dollars)

 

 Three Months Ended June 30

 

 Six Months Ended June 30

 

2001

 

2000

 

2001

 

2000

 

 

 

 

 

 

 

 

 Revenue

3,090,970

 

836,596

 

4,380,800

 

914,923

 

 

 

 

 

 

 

 

Gross Margin

1,018,871

 

715,963

 

1,564,012

 

716,683

 

 

 

 

 

 

 

 

Expenses

1,295,878

 

436,827

 

2,090,587

 

1,269,228

 

 

 

 

 

 

 

 

EBITDA

(277,007)

 

279,136

 

(526,575)

 

(552,545)

 

Profit/(Loss) for the Period

(375,465)

 

207,848

 

(699,919)

 

(895,986)

 

 

 

 

 

 

 

 

Earnings/(Loss) per common share (basic & diluted)

(0.01)

 

0.01

 

(0.02)

 

(0.04)

   

The second quarter includes a full three months of operations for GH International, the specialty asphalt products manufacturer acquired by Polyphalt earlier this year.  After less than five months as a Polyphalt controlled company, GHI is meeting revenue targets and is now operating at close to a breakeven rate as compared to sustaining heavy losses in 2000 when operating as The GH Company.  During the quarter we have strengthened GHI’s management team with the addition of a General Manager and appointment of a new Financial Controller and aggressively initiated several programs in order to achieve our long term growth and profit objectives for the acquisition.


In June Polyphalt’s licensee in China, a Cheung Kong Infrastructure subsidiary, announced the completion of a co-operative joint venture with Liaohe Refinery in Liaoning Province, north of Beijing.  Liaohe Refinery is the largest asphalt producing refiner in northern China and is a key part of the China National Petroleum Corporation.  The joint venture’s polymer modified asphalt facility is now operational and expects to supply PMA to its first paving projects later this summer and into the fall.  CKI has also completed work on facilities at its plant in Shantou, Guandong Province to produce Polyphalt’s Dry Mix asphalt modifiers for use by various Chinese sublicensees and joint venture partners.  Dry Mix asphalt modifiers are a unique delivery system designed to package Polyphalt technologies in material form.

In July, following the completion of the second quarter, Polyphalt announced that it had signed its first license agreement in Eastern Europe with Przedsiebiorstwo Budowy Drog I Mostow Spolka Akcyjna w Tarnowie, S.A. (PBDiM) of Poland.  PBDiM, S.A., headquartered in Tarnow, in south central Poland, is the second largest paving contractor in the country. Along with road construction, PBDiM also produces hot-mix asphalt, manufactures and markets asphalt emulsions and markets fuels. The company is privately held and ISO 9001 certified.


 
Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel Polymer Modified Asphalt products and technology to serve North American and international infrastructure markets.  Polyphalt has a broad portfolio of  proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.  These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products.  Polyphalt’s international licensee network comprises twelve leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Northern Europe and China. 

Polyphalt is a member of the Cheung Kong Infrastructure group of companies.  CKI is a constituent stock of the Hang Seng Index and a part of the Cheung Kong Holdings led by Hong Kong businessman, Li Ka-shing. CKI is the largest publicly listed infrastructure company in Hong Kong and has three core businesses; infrastructure materials, transportation, and energy.


For further information, please contact us at:


For Polyphalt Inc.        Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario         
         info@polyphalt.com
                                        M2J 5C9

 

Forward Looking Statements

This report contains forward-looking statements that involve risk and uncertainties beyond the Company’s ability to control or predict. Future results may differ materially from project results depending on factors such as competition, changes in industry structure and alliances, reduced product demand, raw material shortages, price volatility or other factors. Readers are cautioned not to place undue reliance on such forward-looking statements.

   Back To Top

 

 

 

For Immediate Release

CDNX Symbol: YPY
SEC Exempt: 82 4585
Issued/Outstanding:
34,252,433

Polyphalt Signs Polish License Agreement
 

(TORONTO, Aug. 02, 2001)  Polyphalt Inc., is pleased to announce that it has completed a license agreement to provide its proprietary polymer-modified- asphalt (PMA) production technology to
the Polish company Przedsiebiorstwo Budowy Drog I Mostow Spolka Akcyjna w Tarnowie,
S.A. (PBDiM). This is Polyphalt's first PMA license agreement in Eastern Europe and brings to
13 the total number of companies now licensed to produce Polyphalt PMA's.

 

PBDiM, S.A. is the second largest paving contractor in Poland. The company is privately held,
ISO 9001 certified and headquartered in Tarnow in south central Poland. PBDiM's core businesses include road construction, the production of hot-mix asphalt, the manufacture and marketing of asphalt emulsions and the marketing of fuels. The licensing of Polyphalt's process technologies will enable the company to participate in the rapidly growing PMA market in Poland. Road construction and re-construction in the country is a key government priority as the A-4, 17, and 4 Autostrads (expressways) are beginning to be widened and reconstructed in an effort to expand Poland's infrastructure network. Polymer modified asphalt is now being specified in the hot-mix pavement design in the majority of major Polish highway projects. Through its well-situated network of hot-mix plants, PBDiM is ideally situated to gain a major share of this work.


 
Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel Polymer Modified Asphalt products and technology to serve North American and international infrastructure markets.  Polyphalt has a broad portfolio of  proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.  These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products.  Polyphalt’s international licensee network comprises twelve leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Northern Europe and China. 

Polyphalt is a member of the Cheung Kong Infrastructure group of companies.  CKI is a constituent stock of the Hang Seng Index and a part of the Cheung Kong Holdings led by Hong Kong businessman, Li Ka-shing. CKI is the largest publicly listed infrastructure company in Hong Kong and has three core businesses; infrastructure materials, transportation, and energy.


For further information, please contact us at:


For Polyphalt Inc.        Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario         
         info@polyphalt.com
                                        M2J 5C9

For PBDiM, S.A.          Mr. Jacek Jurek, President
                                        Tarnow ul. Zakladowa 6
                                        Poland
                                        Tel. 0-14 627 45 00
                              Fax 0-14 621 03 3733-100

Forward Looking Statements

This report contains forward-looking statements that involve risk and uncertainties beyond the Company’s ability to control or predict. Future results may differ materially from project results depending on factors such as competition, changes in industry structure and alliances, reduced product demand, raw material shortages, price volatility or other factors. Readers are cautioned not to place undue reliance on such forward-looking statements.

   Back To Top

 

 

For Immediate Release

CDNX Symbol: YPY
SEC Exempt: 82 4585
Issued/Outstanding:
34,252,433

Polyphalt Licensee Starts Operations in China
 

(Toronto, June 14, 2001)  Polyphalt Inc., is pleased to announce that its Master Licensee, a Cheung Kong Infrastructure subsidiary, has officially commenced operations in Mainland China.  CKI recently announced the completion of a co-operative joint venture with Liaohe Refinery in Liaonan Province, north of Beijing.  Lioahe is the largest asphalt producing refiner in northern China and is a key part of the China National Petroleum Corporation (CNPC), the largest oil company in China.  The joint venture’s polymer modified asphalt facility is now operational, and the first paving projects are anticipated this summer.

 Concurrently, a separate CKI subsidiary has opened a “Dry Mix” facility at its plant in Shantou, Guandong Province.  This plant is designed to produce Polyphalt’s proprietary Dry Mix asphalt modifiers for use by various licensees, sublicensees and joint venture partners.  Dry Mix asphalt modifiers are a unique delivery system designed to package Polyphalt technologies in material form. Both ventures will generate royalty revenue for Polyphalt beginning in 2001.


 
Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel Polymer Modified Asphalt products and technology to serve North American and international infrastructure markets.  Polyphalt has a broad portfolio of  proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.  These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products.  Polyphalt’s international licensee network comprises twelve leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Northern Europe and China. 

Polyphalt is a member of the Cheung Kong Infrastructure group of companies.  CKI is a constituent stock of the Hang Seng Index and a part of the Cheung Kong Holdings led by Hong Kong businessman, Li Ka-shing. CKI is the largest publicly listed infrastructure company in Hong Kong and has three core businesses; infrastructure materials, transportation, and energy.


For further information, please contact us at:


For Polyphalt Inc.        Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario         
         info@polyphalt.com
                                        M2J 5C9

Forward Looking Statements

This report contains forward-looking statements that involve risk and uncertainties beyond the Company’s ability to control or predict. Future results may differ materially from project results depending on factors such as competition, changes in industry structure and alliances, reduced product demand, raw material shortages, price volatility or other factors. Readers are cautioned not to place undue reliance on such forward-looking statements.

   Back To Top

 

 

For Immediate Release

CDNX Symbol: YPY
SEC Exempt: 82 4585
Issued/Outstanding:
34,252,433

Polyphalt Revenues Grow to $1.3 Million in First Quarter

(Toronto, May 30, 2001)  Polyphalt Inc., is pleased to report results for the first quarter of operations, ended March 31, 2001.  During the first quarter Company completed its first acquisition, executed an important new North American license agreement and grew its revenues to almost $1.3 million, an increase of more than $1.2 million from the corresponding period last year.  In addition, we expanded our sales and marketing team with the addition of two, highly experienced new team members, a move that will help the Company meet its aggressive fiscal 2001 growth targets.

A summary of financial performance for the period is provided in the Table below.

First Quarter Financial Highlights (stated in Canadian dollars)

 

      Three Months Ended

 

 

March 31, 2001

(unaudited)

March 31, 2000

(unaudited)

 

Change ($’s)

Revenues

1,289,830

78,327

1,211,503

Cost of Product & Material Sales

744,689

77,607

667,082

Expenses

794,709

832,401

(37,692)

EBITDA

(249,568)

(831,681)

582,113

Profit / (Loss) for the Period

(324,454)

(1,103,834)

779,380

Loss per Common Share

(0.01)

(0.09)

0.08

            Complete consolidated financial results, including notes, have been filed on Sedar, appear on the
Company’s website and are available, on request, in print from the Company.

                On February 14, 2001 Polyphalt acquired the operating assets of The GH Company, a leading Canadian manufacturer and marketer of roof coatings, adhesives and pavement maintenance products.  The company now operates as GH International Inc.  With the acquisition of GHI, Polyphalt has taken a solid first step in its plan to develop and acquire materials and manufacturing businesses that complement its licensing business.

 While there has been a slowdown in the North American economy, management is optimistic that Polyphalt will continue to build on last year’s successes. GHI’s business is expected to provide Polyphalt with at least seven million dollars in revenues in the current fiscal year. At the same time, licensing and material revenues are expected to continue the pattern of growth established in the past two years, which have seen year-over-year sales increased by close to 100%.  To manage this growth and prepare the organization for subsequent increases in operating size and scope, management expects to significantly increase headcount, research and development expenditures and sales and marketing activity.

 Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel Polymer Modified Asphalt products and technology to serve North American and international infrastructure markets.  Polyphalt has a broad portfolio of  proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.  These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products.  Polyphalt’s international licensee network comprises twelve leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Northern Europe and China. 

Polyphalt is a member of the Cheung Kong Infrastructure group of companies.  CKI is a constituent stock of the Hang Seng Index and a part of the Cheung Kong Holdings led by Hong Kong businessman, Li Ka-shing. CKI is the largest publicly listed infrastructure company in Hong Kong and has three core businesses; infrastructure materials, transportation, and energy.

Company Management and Directors would like to extend an invitation to shareholders to join us at our Annual General Meeting to be held at the Westin Harbour Castle Hotel, in Toronto, at 4.00 on June 14, 2001.

For further information, please contact us at:

For Polyphalt Inc.        Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario         
         info@polyphalt.com
                                        M2J 5C9

Forward Looking Statements

This report contains forward-looking statements that involve risk and uncertainties beyond the Company’s ability to control or predict. Future results may differ materially from project results depending on factors such as competition, changes in industry structure and alliances, reduced product demand, raw material shortages, price volatility or other factors. Readers are cautioned not to place undue reliance on such forward-looking statements.

   Back To Top

 

For Immediate Release

CDNX Symbol: YPY
SEC Exempt: 82 4585
Issued/Outstanding:
34,252,433

Polyphalt Inc.  Issues Shares Under Debentures

(Toronto, April 17, 2001)     Polyphalt Inc. announces that it has issued 96,732 common shares from its treasury to the holders of its August, 1999 Convertible Debentures in lieu of interest payments thereunder at an issue price of $0.25 per share.  The Convertible Debentures, which will mature on January 31, 2002, accrue interest at 5% per annum, calculated and payable in arrears, either in cash or in common shares of the Corporation at an issue price of $0.25 per share.  The shareholders of the Corporation approved the issuance of the Convertible Debentures and the underlying shares at the Shareholders’ meeting held September 15, 1999.

Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel PMA products and technology to serve North American and international infrastructure markets.  Polyphalt has a broad portfolio of  proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.  These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products.  Polyphalt has a global licensing network comprised of twelve leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Northern Europe and China.  Polyphalt also recently completed the acquisition of GH International, a Canadian based producer of roof coatings, adhesives and pavement maintenance products. 

Polyphalt has licensed its techology to an international network of leading asphalt suppliers in Canada, the United States, Australia, Northern Europe and most recently, China and Hong Kong.

 Polyphalt is a member of the Cheung Kong Infrastructure group of companies.  CKI is a constituent stock of the Hang Seng Index and a part of the Cheung Kong Holdings empire run by Hong Kong businessman, Li Ka-shing. In terms of market capitalization, CKI is the largest publicly listed infrastructure company in Hong Kong and has three core business: infrastructure materials, transportation, and energy. CKI has investments in Mainland China, Hong Kong, the Philippines, Australia and Canada.


For further information, please contact us at:

For Polyphalt Inc.        Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario         
         info@polyphalt.com
                                        M2J 5C9


   Back To Top

 

For Immediate Release

CDNX Symbol: YPY
SEC Exempt: 82 4585
Issued/Outstanding:
34,252,433

Polyphalt Inc. Annual and Special Meeting of Shareholders

(Toronto, April 17, 2001)    Polyphalt Inc. is pleased to inform its shareholders and other interested parties that its Annual and Special Meeting of Shareholders will be held June 14, 2001 at 4:00 pm at The Westin Harbour Castle Hotel in Toronto. The date of record for the meeting will be Friday May 11, 2001.

 Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel PMA products and technology to serve North American and international infrastructure markets.  Polyphalt has a broad portfolio of proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.  These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products.  Polyphalt has a global licensing network comprised of twelve leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Northern Europe and China.  Polyphalt also recently completed the acquisition of GH International, a Canadian based producer of roof coatings, adhesives and pavement maintenance products. 

 Polyphalt is a member of the Cheung Kong Infrastructure group of companies.  CKI is a constituent stock of the Hang Seng Index and a part of the Cheung Kong Holdings empire run by Hong Kong businessman, Li Ka-shing. In terms of market capitalization, CKI is the largest publicly listed infrastructure company in Hong Kong and has three core business: infrastructure materials, transportation, and energy. CKI has investments in Mainland China, Hong Kong, the Philippines, Australia and Canada.


For further information, please contact us at:

For Polyphalt Inc.        Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario         
         info@polyphalt.com
                                        M2J 5C9


   Back To Top

 

For Immediate Release

CDNX Symbol: YPY
SEC Exempt: 82 4585
Issued/Outstanding:
34,058,403

Polyphalt Inc. and Koch Asphalt Solution S.W. Sign U.S. License Agreement

(Toronto, March 19, 2001)  Polyphalt Inc., a Canadian technology company that develops and commercializes novel Polymer Modified Asphalt products and technology, is pleased to announce that it has completed a new license agreement granting Koch Asphalt Solution S.W. access to its proprietary, high performance, PMA technology.  Koch Asphalt Solution S.W. is a partnership between two of Arizona and New Mexico’s long time asphalt suppliers, Navajo Western Asphalt Co. and Koch S.W. Asphalt Company.  Navajo Refining Company, a wholly owned subsidiary of the Holly Corporation of Dallas, Texas, has been a Polyphalt licensee since May, 1999.

Under the terms of the agreement, Koch Asphalt Solution S.W. will gain manufacturing and distribution rights to Polyphalt’s unique DVxä polymer modified asphalt process technology for the Arizona and New Mexico markets.  DVxä technology utilizes recycled tire rubber as a primary component in the production of high-performance modified asphalt with superb storage stability, toughness and adhesion.  Koch Asphalt Solution S.W. plans to use Polyphalt’s technology in the production of high performance, long lasting hot-mix and surface treatment applications. 

Polyphalt’s President and C.E.O., Bruce Harbinson, commenting on the new agreement said “We are encouraged by the increasing interest being shown by public and private agencies in the United States in high performance crumb rubber modified asphalt.  Several states are now following the lead of Arizona, California and Texas and appear ready to specify these materials on a regular basis.  From Polyphalt’s perspective, all stakeholders benefit when we can marry solutions to increasingly demanding engineering requirements with the environmental imperative for creating sustainable, high value, downstream markets for recycled feedstocks.  Polyphalt is also a leader in the commercialization of high performance asphalts using recycled plastics.”

The signing of this license agreement follows Polyphalt’s recently announced acquisition of The GH Company, a Canadian producer of roof coatings, adhesives and pavement maintenance products.

Polyphalt is a Canadian based technology company that develops and commercializes novel Polymer Modified Asphalt products and technology to serve North American and international infrastructure markets.  Polyphalt has a broad portfolio of  proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.  These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products.  Asphalt is one of the most widely and basic construction materials, with over 100 million tons produced annually worldwide. 

Polyphalt has licensed its techology to an international network of leading asphalt suppliers in Canada, the United States, Australia, Northern Europe and most recently, China and Hong Kong.

 Polyphalt is a member of the Cheung Kong Infrastructure group of companies.  CKI is a constituent stock of the Hang Seng Index and a part of the Cheung Kong Holdings empire run by Hong Kong businessman, Li Ka-shing. In terms of market capitalization, CKI is the largest publicly listed infrastructure company in Hong Kong and has three core business: infrastructure materials, transportation, and energy. CKI has investments in Mainland China, Hong Kong, the Philippines, Australia and Canada.


For further information, please contact us at:

For Polyphalt Inc.        Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario         
         info@polyphalt.com
                                        M2J 5C9


   Back To Top

For Immediate Release

CDNX Symbol: YPY
SEC Exempt: 82 4585
Issued/Outstanding:
34,058,403

Polyphalt Inc. Announces Improved Financial Results: 
royalty and licensee fee revenues up almost 120% 

’GH’ Acquisition will add $7 million to current year revenues.

(Toronto, March 14, 2001)   

Polyphalt Inc., a publicly traded Canadian technology company (trading under the ticker symbol ’YPY’) that develops and commercializes novel Polymer Modified Asphalt products and technology,  is pleased to announce it’s financial results for the 9 months ended Dec. 31, 2000.

(the company had previously announced that it would change its fiscal year end from March 31 to December 31.)

Following its successful re-financing last year the company still retains substantial cash resources to fund its continued growth and expansion strategy.

Growth is already evident, with revenues from royalties and license fees up 119% at $1.5 million for 9 months, versus just under $700k for the whole of the prior year.

Summary highlights from the company’s consolidated financial statements as at

December 31, 2000 are:

     9 months ended   Year ended  
     December 31, 2000   March 31, 2000  

Revenues  

     
  Royalties and License fees   1,534,727  699,976
     Product and material sales   319,553  292,690
    Consulting Services      55,377  8,487
    Other income       376,745  5,689
       
       $2,286,402 $1,006,842

Less  

     
 

Cost of sales and services

(   343,287) (   231,299)
 

   Expenses

2,341,206)   (2,744,557)
       

Loss for the period

  $ 398,091   $1,969,014  
 

EPS – loss per common share

   $0.01       $0.17


 While net income shows the company’s overall loss down to under $400k versus a loss of almost $2 million in the prior year, at the EBITDA level the company now has positive earnings:

Depreciation and amortization and patent write downs, which are non-cash charges, were $534k for the period to December 31, 2000 (versus $863k for the prior year), and this along with other reduced expenses results in earnings before interest expense, and depreciation/amortization being a positive $243,439 for the 9 months to December 31, 2000 versus a loss of over $1 million for the prior year ($1,105,656 to March 31, 2000.)

At December 31, 2000 the company still retained over $9.1 million of cash (and ’other income’ includes interest received on the company’s cash.)

A summarized balance sheet is:  

    December 31, 2000     March 31, 2000
   

  ($000’s)

   Assets  

     
   Cash    9,161    9,925
    Other current assets        1,045            256
     410,206     10,181
     fixed assets & intangibles      1,229      1,481
     $11,435   $11,662  

     Less:

     
     Current Liabilities      $(  751)    (  653)
        $(  840)     (  791)
       
     Shareholders equity        $9,844    $10,218

 

Subsequent to year-end the company made its first acquisition, which is expected to add over $7 million in revenues to Polyphalt in the current fiscal year. 

 On February 15, 2001, the corporation purchased assets valued at approximately $6.2 million and assumed certain liabilities from G.H. Holdings Inc., with an up front cash consideration of $700,000.  

 Polyphalt acquired all of the operating assets of The GH Company, a privately held manufacturer and marketer of roof coatings, adhesives and pavement maintenance products, whose origins date back to 1913, and which sells its products through retail, commercial and industrial channels in Canadian and International markets. 

 The GH business is a solid first step in Polyphalt’s plan to complement its licensing business with related materials and manufacturing businesses and:
 

  • it provides a manufacturing base which Polyphalt can improve and expand by leveraging the R&D that has already been invested in Polyphalt’s proven and proprietary, high performance asphalt systems.  The company will also look at opportunities for licensing in outside technologies and for private label manufacturing.
  • GH has a domestic and international customer base in place for pavement maintenance products, in particular premium cold-mix products for permanent pot-hole repair.  This product line has excellent synergy with our rapidly expanding polymer modified asphalt licensing business.

 

  • GH brings a strong management and support team, which is a solid platform for further expansion in the Specialty Asphalt market, including the possibility of further acquisitions and international distribution.

 The company is now preparing its Annual Report, and the date of the company’s next shareholder meeting, expected to be held in May, will be announced shortly.

Polyphalt is a Canadian based technology company that develops and commercializes novel Polymer Modified Asphalt products and technology to serve North American and international infrastructure markets.  Polyphalt has a broad portfolio of  proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.  These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products.  Asphalt is one of the most widely and basic construction materials, with over 100 million tons produced annually worldwide. 

Polyphalt has licensed its techology to an international network of leading asphalt suppliers in Canada, the United States, Australia, Northern Europe and most recently, China and Hong Kong.

 Polyphalt is a member of the Cheung Kong Infrastructure group of companies.  CKI is a constituent stock of the Hang Seng Index and a part of the Cheung Kong Holdings empire run by Hong Kong businessman, Li Ka-shing. In terms of market capitalization, CKI is the largest publicly listed infrastructure company in Hong Kong and has three core business: infrastructure materials, transportation, and energy. CKI has investments in Mainland China, Hong Kong, the Philippines, Australia and Canada.


For further information, please contact us at:

For Polyphalt Inc.        Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario         
         info@polyphalt.com
                                        M2J 5C9


   Back To Top

 

For Immediate Release

CDNX Symbol: YPY
SEC Exempt: 82 4585
Issued/Outstanding:
34,058,403

Polyphalt Acquisition Adds Market Reach To Company

(Toronto, February 15, 2001)  Polyphalt Inc., a Canadian technology company that develops and commercializes novel Polymer Modified Asphalt products and technology, today announced that it has acquired all of the operating assets of GH Company, a privately held manufacturer and marketer of roof coatings, adhesives and pavement maintenance products. 

 The GH Company origins date back to 1913.  GH sells its products through retail, commercial and industrial channels in Canadian and International markets.  Polyphalt, originally a technology spin-off from the University of Toronto, has a growing list of Canadian, American and international licensees. GH is the Company’s first acquisition and is expected to add over $7 million in revenues to Polyphalt in the current fiscal year. 

Commenting on the acquisition, Bruce Harbinson, C.E.O. of Polyphalt, stated “Last year we strengthened our treasury in order to move forward with our growth strategy.  This acquisition puts our capital to work directly in line with that strategy.  The GH Company is a solid first step in Polyphalt’s plan to complement its licensing business with related materials and manufacturing businesses.  GH is an excellent fit with our strategy for several reasons: 

  • GH provides a manufacturing base from which we can improve and expand existing product lines as well as add entirely new products, often by leveraging the R&D that has already been invested in Polyphalt’s proven and proprietary, high performance asphalt systems.  We will also look at opportunities for licensing in outside technologies and for private label manufacturing.

  • GH has a domestic and international customer base in place or pavement maintenance products, in particular premium cold-mix products for permanent pot-hole repair.  This product line has excellent synergy with our rapidly expanding polymer modified asphalt licensing business.

  • GH is a solid platform for further expansion in the Specialty Asphalt market including the possibility of further acquisitions and international distribution

  • GH provides a local center for establishing Polyphalt pilot operations for the Company’s polymer modified asphalt and emerging materials businesses.

GH brings a strong management and support team, which we intend to make the nucleus of this exciting new part of our organization”

Polyphalt acquired the GH Company through two new wholly owned subsidiaries; one of which will own and operate the business, while the other will hold the GH Company property and manufacturing facility located in Mississauga, Ontario. 

 Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel PMA products and technology to serve North American and international infrastructure markets.  Polyphalt has a broad portfolio of  proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.  These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products.  Polyphalt completed four new license agreements in 2000 thereby creating a global licensee network comprised of twelve leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Northern Europe and China. 

 Polyphalt is a member of the Cheung Kong Infrastructure group of companies.  CKI is a constituent stock of the Hang Seng Index and a part of the Cheung Kong Holdings empire run by Hong Kong businessman, Li Ka-shing. In terms of market capitalization, CKI is the largest publicly listed infrastructure company in Hong Kong and has three core business: infrastructure materials, transportation, and energy. CKI has investments in Mainland China, Hong Kong, the Philippines, Australia and Canada.


For further information, please contact us at:

For Polyphalt Inc.        Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario         
         info@polyphalt.com
                                        M2J 5C9


   Back To Top

For Immediate Release

CDNX Symbol: YPY
SEC Exempt: 82 4585
Issued/Outstanding:
34,058,403

Polyphalt Inc. Announces Change In Fiscal Year End

 (Toronto, January 17, 2001)     Polyphalt Inc. has received approval from the CCRA (Canada Customs and Revenue Agency) and its Board of Directors to change the fiscal year end of the corporation from March 31’st to December 31’st.  This change will facilitate the Company’s financial reporting and budgeting process by aligning its fiscal year end with that of its majority shareholder, Grandwin Holding DK ApS, a wholly owned subsidiary of Cheung Kong Holdings Infrastructure Limited. 

 The Company’s Annual Report, including audited financial statements for the period April 1, 2000 to December 31, 2000, is expected to be ready for dissemination to shareholders by early May, well in advance of the statutory 180 day period.  Management anticipates that results will continue to show strong revenue gains, bottom line improvements and a strong balance sheet as compared to the prior year.

 Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel PMA products and technology to serve North American and international infrastructure markets.  Polyphalt has a broad portfolio of  proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.  These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products.  Polyphalt completed four new license agreements in 2000 thereby creating a global licensee network comprised of twelve leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Northern Europe and China. 

 Polyphalt is a member of the Cheung Kong Infrastructure group of companies.  CKI is a constituent stock of the Hang Seng Index and a part of the Cheung Kong Holdings empire run by Hong Kong businessman, Li Ka-shing. In terms of market capitalization, CKI is the largest publicly listed infrastructure company in Hong Kong and has three core business: infrastructure materials, transportation, and energy. CKI has investments in Mainland China, Hong Kong, the Philippines, Australia and Canada.


For further information, please contact us at:

For Polyphalt Inc.        Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario         
         info@polyphalt.com
                                        M2J 5C9


   Back To Top

 

For Immediate Release

CDNX Symbol: YPY
SEC Exempt: 82 4585
Issued/Outstanding:
34,058,403

Polyphalt Inc. and Koch Asphalt Solution S.W. Sign U.S. License Agreement

(Toronto, March 19, 2001)  Polyphalt Inc., a Canadian technology company that develops and commercializes novel Polymer Modified Asphalt products and technology, is pleased to announce that it has completed a new license agreement granting Koch Asphalt Solution S.W. access to its proprietary, high performance, PMA technology.  Koch Asphalt Solution S.W. is a partnership between two of Arizona and New Mexico’s long time asphalt suppliers, Navajo Western Asphalt Co. and Koch S.W. Asphalt Company.  Navajo Refining Company, a wholly owned subsidiary of the Holly Corporation of Dallas, Texas, has been a Polyphalt licensee since May, 1999.

Under the terms of the agreement, Koch Asphalt Solution S.W. will gain manufacturing and distribution rights to Polyphalt’s unique DVxä polymer modified asphalt process technology for the Arizona and New Mexico markets.  DVxä technology utilizes recycled tire rubber as a primary component in the production of high-performance modified asphalt with superb storage stability, toughness and adhesion.  Koch Asphalt Solution S.W. plans to use Polyphalt’s technology in the production of high performance, long lasting hot-mix and surface treatment applications. 

Polyphalt’s President and C.E.O., Bruce Harbinson, commenting on the new agreement said “We are encouraged by the increasing interest being shown by public and private agencies in the United States in high performance crumb rubber modified asphalt.  Several states are now following the lead of Arizona, California and Texas and appear ready to specify these materials on a regular basis.  From Polyphalt’s perspective, all stakeholders benefit when we can marry solutions to increasingly demanding engineering requirements with the environmental imperative for creating sustainable, high value, downstream markets for recycled feedstocks.  Polyphalt is also a leader in the commercialization of high performance asphalts using recycled plastics.”

The signing of this license agreement follows Polyphalt’s recently announced acquisition of The GH Company, a Canadian producer of roof coatings, adhesives and pavement maintenance products.

Polyphalt is a Canadian based technology company that develops and commercializes novel Polymer Modified Asphalt products and technology to serve North American and international infrastructure markets.  Polyphalt has a broad portfolio of  proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.  These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products.  Asphalt is one of the most widely and basic construction materials, with over 100 million tons produced annually worldwide. 

Polyphalt has licensed its techology to an international network of leading asphalt suppliers in Canada, the United States, Australia, Northern Europe and most recently, China and Hong Kong.

 Polyphalt is a member of the Cheung Kong Infrastructure group of companies.  CKI is a constituent stock of the Hang Seng Index and a part of the Cheung Kong Holdings empire run by Hong Kong businessman, Li Ka-shing. In terms of market capitalization, CKI is the largest publicly listed infrastructure company in Hong Kong and has three core business: infrastructure materials, transportation, and energy. CKI has investments in Mainland China, Hong Kong, the Philippines, Australia and Canada.


For further information, please contact us at:

For Polyphalt Inc.        Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario         
         info@polyphalt.com
                                        M2J 5C9


   Back To Top

 

 

For Immediate Release

CDNX Symbol: YPY
SEC Exempt: 82 4585
Issued/Outstanding:
34,058,403

Polyphalt Inc. Announces Improved Financial Results: 
royalty and licensee fee revenues up almost 120% 

’GH’ Acquisition will add $7 million to current year revenues.

(Toronto, March 14, 2001)   

Polyphalt Inc., a publicly traded Canadian technology company (trading under the ticker symbol ’YPY’) that develops and commercializes novel Polymer Modified Asphalt products and technology,  is pleased to announce it’s financial results for the 9 months ended Dec. 31, 2000.

(the company had previously announced that it would change its fiscal year end from March 31 to December 31.)

Following its successful re-financing last year the company still retains substantial cash resources to fund its continued growth and expansion strategy.

Growth is already evident, with revenues from royalties and license fees up 119% at $1.5 million for 9 months, versus just under $700k for the whole of the prior year.

Summary highlights from the company’s consolidated financial statements as at

December 31, 2000 are:

     9 months ended   Year ended  
     December 31, 2000   March 31, 2000  

Revenues  

     
  Royalties and License fees   1,534,727  699,976
     Product and material sales   319,553  292,690
    Consulting Services      55,377  8,487
    Other income       376,745  5,689
       
       $2,286,402 $1,006,842

Less  

     
 

Cost of sales and services

(   343,287) (   231,299)
 

   Expenses

2,341,206)   (2,744,557)
       

Loss for the period

  $ 398,091   $1,969,014  
 

EPS – loss per common share

   $0.01       $0.17


 While net income shows the company’s overall loss down to under $400k versus a loss of almost $2 million in the prior year, at the EBITDA level the company now has positive earnings:

Depreciation and amortization and patent write downs, which are non-cash charges, were $534k for the period to December 31, 2000 (versus $863k for the prior year), and this along with other reduced expenses results in earnings before interest expense, and depreciation/amortization being a positive $243,439 for the 9 months to December 31, 2000 versus a loss of over $1 million for the prior year ($1,105,656 to March 31, 2000.)

At December 31, 2000 the company still retained over $9.1 million of cash (and ’other income’ includes interest received on the company’s cash.)

A summarized balance sheet is:  

    December 31, 2000     March 31, 2000
   

  ($000’s)

   Assets  

     
   Cash    9,161    9,925
    Other current assets        1,045            256
     410,206     10,181
     fixed assets & intangibles      1,229      1,481
     $11,435   $11,662  

     Less:

     
     Current Liabilities      $(  751)    (  653)
        $(  840)     (  791)
       
     Shareholders equity        $9,844    $10,218

 

Subsequent to year-end the company made its first acquisition, which is expected to add over $7 million in revenues to Polyphalt in the current fiscal year. 

 On February 15, 2001, the corporation purchased assets valued at approximately $6.2 million and assumed certain liabilities from G.H. Holdings Inc., with an up front cash consideration of $700,000.  

 Polyphalt acquired all of the operating assets of The GH Company, a privately held manufacturer and marketer of roof coatings, adhesives and pavement maintenance products, whose origins date back to 1913, and which sells its products through retail, commercial and industrial channels in Canadian and International markets. 

 The GH business is a solid first step in Polyphalt’s plan to complement its licensing business with related materials and manufacturing businesses and:
 

  • it provides a manufacturing base which Polyphalt can improve and expand by leveraging the R&D that has already been invested in Polyphalt’s proven and proprietary, high performance asphalt systems.  The company will also look at opportunities for licensing in outside technologies and for private label manufacturing.
  • GH has a domestic and international customer base in place for pavement maintenance products, in particular premium cold-mix products for permanent pot-hole repair.  This product line has excellent synergy with our rapidly expanding polymer modified asphalt licensing business.

 

  • GH brings a strong management and support team, which is a solid platform for further expansion in the Specialty Asphalt market, including the possibility of further acquisitions and international distribution.

 The company is now preparing its Annual Report, and the date of the company’s next shareholder meeting, expected to be held in May, will be announced shortly.

Polyphalt is a Canadian based technology company that develops and commercializes novel Polymer Modified Asphalt products and technology to serve North American and international infrastructure markets.  Polyphalt has a broad portfolio of  proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.  These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products.  Asphalt is one of the most widely and basic construction materials, with over 100 million tons produced annually worldwide. 

Polyphalt has licensed its techology to an international network of leading asphalt suppliers in Canada, the United States, Australia, Northern Europe and most recently, China and Hong Kong.

 Polyphalt is a member of the Cheung Kong Infrastructure group of companies.  CKI is a constituent stock of the Hang Seng Index and a part of the Cheung Kong Holdings empire run by Hong Kong businessman, Li Ka-shing. In terms of market capitalization, CKI is the largest publicly listed infrastructure company in Hong Kong and has three core business: infrastructure materials, transportation, and energy. CKI has investments in Mainland China, Hong Kong, the Philippines, Australia and Canada.


For further information, please contact us at:

For Polyphalt Inc.        Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario         
         info@polyphalt.com
                                        M2J 5C9


   Back To Top

 

For Immediate Release

CDNX Symbol: YPY
SEC Exempt: 82 4585
Issued/Outstanding:
34,058,403

Polyphalt Acquisition Adds Market Reach To Company

(Toronto, February 15, 2001)  Polyphalt Inc., a Canadian technology company that develops and commercializes novel Polymer Modified Asphalt products and technology, today announced that it has acquired all of the operating assets of GH Company, a privately held manufacturer and marketer of roof coatings, adhesives and pavement maintenance products. 

 The GH Company origins date back to 1913.  GH sells its products through retail, commercial and industrial channels in Canadian and International markets.  Polyphalt, originally a technology spin-off from the University of Toronto, has a growing list of Canadian, American and international licensees. GH is the Company’s first acquisition and is expected to add over $7 million in revenues to Polyphalt in the current fiscal year. 

Commenting on the acquisition, Bruce Harbinson, C.E.O. of Polyphalt, stated “Last year we strengthened our treasury in order to move forward with our growth strategy.  This acquisition puts our capital to work directly in line with that strategy.  The GH Company is a solid first step in Polyphalt’s plan to complement its licensing business with related materials and manufacturing businesses.  GH is an excellent fit with our strategy for several reasons: 

  • GH provides a manufacturing base from which we can improve and expand existing product lines as well as add entirely new products, often by leveraging the R&D that has already been invested in Polyphalt’s proven and proprietary, high performance asphalt systems.  We will also look at opportunities for licensing in outside technologies and for private label manufacturing.

  • GH has a domestic and international customer base in place or pavement maintenance products, in particular premium cold-mix products for permanent pot-hole repair.  This product line has excellent synergy with our rapidly expanding polymer modified asphalt licensing business.

  • GH is a solid platform for further expansion in the Specialty Asphalt market including the possibility of further acquisitions and international distribution

  • GH provides a local center for establishing Polyphalt pilot operations for the Company’s polymer modified asphalt and emerging materials businesses.

GH brings a strong management and support team, which we intend to make the nucleus of this exciting new part of our organization”

Polyphalt acquired the GH Company through two new wholly owned subsidiaries; one of which will own and operate the business, while the other will hold the GH Company property and manufacturing facility located in Mississauga, Ontario. 

 Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel PMA products and technology to serve North American and international infrastructure markets.  Polyphalt has a broad portfolio of  proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.  These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products.  Polyphalt completed four new license agreements in 2000 thereby creating a global licensee network comprised of twelve leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Northern Europe and China. 

 Polyphalt is a member of the Cheung Kong Infrastructure group of companies.  CKI is a constituent stock of the Hang Seng Index and a part of the Cheung Kong Holdings empire run by Hong Kong businessman, Li Ka-shing. In terms of market capitalization, CKI is the largest publicly listed infrastructure company in Hong Kong and has three core business: infrastructure materials, transportation, and energy. CKI has investments in Mainland China, Hong Kong, the Philippines, Australia and Canada.


For further information, please contact us at:

For Polyphalt Inc.        Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario         
         info@polyphalt.com
                                        M2J 5C9


   Back To Top

For Immediate Release

CDNX Symbol: YPY
SEC Exempt: 82 4585
Issued/Outstanding:
34,058,403

Polyphalt Inc. Announces Change In Fiscal Year End

 (Toronto, January 17, 2001)     Polyphalt Inc. has received approval from the CCRA (Canada Customs and Revenue Agency) and its Board of Directors to change the fiscal year end of the corporation from March 31’st to December 31’st.  This change will facilitate the Company’s financial reporting and budgeting process by aligning its fiscal year end with that of its majority shareholder, Grandwin Holding DK ApS, a wholly owned subsidiary of Cheung Kong Holdings Infrastructure Limited. 

 The Company’s Annual Report, including audited financial statements for the period April 1, 2000 to December 31, 2000, is expected to be ready for dissemination to shareholders by early May, well in advance of the statutory 180 day period.  Management anticipates that results will continue to show strong revenue gains, bottom line improvements and a strong balance sheet as compared to the prior year.

 Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel PMA products and technology to serve North American and international infrastructure markets.  Polyphalt has a broad portfolio of  proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.  These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products.  Polyphalt completed four new license agreements in 2000 thereby creating a global licensee network comprised of twelve leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Northern Europe and China. 

 Polyphalt is a member of the Cheung Kong Infrastructure group of companies.  CKI is a constituent stock of the Hang Seng Index and a part of the Cheung Kong Holdings empire run by Hong Kong businessman, Li Ka-shing. In terms of market capitalization, CKI is the largest publicly listed infrastructure company in Hong Kong and has three core business: infrastructure materials, transportation, and energy. CKI has investments in Mainland China, Hong Kong, the Philippines, Australia and Canada.


For further information, please contact us at:

For Polyphalt Inc.        Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario         
         info@polyphalt.com
                                        M2J 5C9


   Back To Top

For Immediate Release

CDNX Symbol: YPY
SEC Exempt: 82 4585
Issued/Outstanding:
34,058,403

Polyphalt Licensing Program on Fast Track with Fourth Agreement in 2000

(Toronto, November 28, 2000)            Polyphalt Inc. is pleased to announce that it has completed a license agreement granting the Montana Refining Company access to its proprietary, high performance, polymer-modified asphalt technology.  This is Polyphalt’s fourth new license agreement in its current fiscal year.  The other recent agreements have included the Texas and Mid-West regions of the United States, as well as a master license agreement for Hong Kong and China. 

Montana Refining operates a 7,000 BPD capacity refinery in Great Falls, Montana. The refinery processes a variety of high sulfur crude oils and is a major manufacturer and marketer of asphalt in the Montana and surrounding markets.  The License allows Montana Refining to provide a broader range of polymer modified asphalts (PMA) that meet the new federal performance graded specifications, as well as those of all other State and local road authorities. The availability of a wider range of high performance asphalts will support Montana Refining’s efforts in expanding its current PMA business.  Montana Refining is a wholly owned subsidiary of the Holly Corporation of Dallas, Texas.

Polyphalt is a publicly traded, Canadian based, technology company that develops and commercializes novel PMA products and technology to serve North American and international infrastructure markets.  Polyphalt has a broad portfolio of  proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.  These processes help to produce cost-effective and longer-lasting pavements, roofing materials and other bituminous building and industrial products.  Polyphalt’s licensee network now comprises twelve leading asphalt refiners and suppliers throughout the United States, Canada, Australia, Northern Europe and China. 

Polyphalt is a member of the Cheung Kong Infrastructure group.  CKI is a constituent stock of the Hang Seng Index and a part of the Cheung Kong Holdings empire run by Hong Kong businessman, Li Ka-shing. In terms of market capitalization, CKI is the largest publicly listed infrastructure company in Hong Kong and has three core business: infrastructure materials, transportation, and energy. CKI has investments in Mainland China, Hong Kong, the Philippines, Australia and Canada.

For further information, please contact us at:

For Polyphalt Inc.        Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario         
        info@polyphalt.com
                                        M2J 5C9


   Back To Top

For Immediate Release

CDNX Symbol: YPY
SEC Exempt: 82 4585
Issued/Outstanding:
34,155,671

Polyphalt Shares Listed on CDNX – New Trading Symbol

 (Toronto, October 13, 2000) Polyphalt Inc. wishes to advise its shareholders, the brokerage community and the general public that its shares will be listed for trading on the Canadian Venture Exchange (CDNX) effective Monday, October 16, 2000. The Company’s shares will now trade under the symbol YPY.

Polyphalt is a Canadian based, publicly traded, technology company that develops and commercializes novel polymer modified asphalt technology, products and services to serve North American and international infrastructure markets. The Company has a broad portfolio of proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials. These processes are used to produce cost-effective and longer-lasting pavements, roofing materials as well as other bituminous building and industrial products. Asphalt is one of the most widely used and basic construction materials, with over 100 million tons produced annually worldwide.

The Company’s strategic licensing program has resulted in partnerships with an international network of eleven leading suppliers of asphalt cement in Canada, the United States, Australia, Europe and, most recently, China.

For further information, please contact us at:

For Polyphalt Inc.        Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario         
        info@polyphalt.com
                                        M2J 5C9


   Back To Top

For Immediate Release


SEC Exempt: 82 4585
Issued/Outstanding: 34,058,403

Trading in Polyphalt Shares

 (Toronto, October 3, 2000) Polyphalt Inc. wishes to advise its shareholders, the brokerage community and the general public that it filed, on September 29, 2000, a complete Tier 3 Application to list its shares for trading on the CDNX exchange.  The Company anticipates that its shares will trade on the CDNX on or before October 10, 2000.

The change in listing has been sought as a result of the closing of the Canadian Dealing Network (CDN) which ceased operations on September 29, 2000.  All former CDN companies are affected by this closure.  Until such time as trading recommences on the CDNX, Polyphalt understands that its shares are currently trading on the over-the-counter dealer market in Toronto, Ontario.  During the period between October 2 and October 10, 2000 those individuals wishing to buy or sell shares, or receive information on the bid and ask price of the shares, should contact their broker directly for further information.  Alternatively, Polyphalt understands that several Toronto based brokerage firms are continuing to act as market makers for the Company’s shares.  Contact information for one of the principal market makers is as follows:
                  Jones Gable & Company
                  Tel: (416) 365-8048  /  Fax: (416) 365-0182
                  Attention Trading Desk (Mr. Grady Savage)

 Polyphalt is a Canadian based, publicly traded, technology company that develops and commercializes novel polymer modified asphalt technology, products and services to serve North American and international infrastructure markets.  The Company has a broad portfolio of proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials.  These processes are used to produce cost-effective and longer-lasting pavements, roofing materials as well as other bituminous building and industrial products.  Asphalt is one of the most widely used and basic construction materials, with over 100 million tons produced annually worldwide.

The Company’s strategic licensing program has resulted in partnerships with an international network of eleven leading suppliers of asphalt cement in Canada, the United States, Australia, Europe and, most recently, China.

For further information, please contact us at:

For Polyphalt Inc.        Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario         
        info@polyphalt.com
                                        M2J 5C9


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For Immediate Release

CDN Symbol: PLYF
SEC Exempt: 82 4585
Issued/Outstanding: 34,058,403

Polyphalt Inc. The Company Reports Its First Ever Quarterly Profit 

Friday, August 25, 2000 Toronto based Polyphalt Inc. has released results for the first quarter of its fiscal 2001 year and is pleased to report a profit of $207,848 versus a loss of $148,288 for the comparable period last year. During the same period revenues were $836,596, an improvement of over $500,000 or 173% over the corresponding period in the prior year.

Based on this strong growth, the Company is poised to exceed last year’s total revenues by the end of the fourth month of its current fiscal year.

With the completion of its financing with a subsidiary of Hong Kong based Cheung Kong Infrastructure Holdings Ltd. (CKI) in March 2000, the Company is also showing a significantly improved balance sheet with current assets in excess of $10 million as of June 30, 2000.

First Quarter Financial Highlights (stated in Canadian dollars)

Three Months Ended

  June 30, 2000
(unaudited)
June 30, 1999
(unaudited)
Change ($’s) Change
Revenues
836,596 306,471 530,125 +173%
Cost of Product & Material Sales 120,633 8,506 112,127  
Expenses
436,827 267,274 169,553 +63%
EBITDA
279,136 30,691 248,445 +710%
Profit / (Loss) for the Period 207,848 (148,288) 356,129  

During the first quarter, Polyphalt announced three new technology-licensing agreements for its proprietary polymer modified asphalt processes. The first two agreements expand the Company’s reach in the important American market with leading asphalt suppliers in the US mid-west and Texas. These agreements bring the total number of North American licensees to eight.

Subsequent to the American announcements, Polyphalt also announced the signing of a master license agreement with CKI for China and Hong Kong. CKI is the largest publicly traded Infrastructure Company in Hong Kong and it has a large presence in infrastructure financing, construction and materials markets, including cement, concrete, asphalt and aggregates in China.

New Chairman:

The company is also pleased to report that Mr. Barrie Cook has been appointed to the Polyphalt Board of Directors and has, effective August 18, 2000, been appointed Chairman. This announcement follows the resignation of Mr. Derek Liu from executive duties and related directorships within the CKI organization. Mr. Cook is Executive Director of CKI and has a long list of credentials and experience that make him an excellent addition to the Company’s Board.

Mr. Cook holds a B.Sc. degree in Civil Engineering and is a Chartered Engineer, a member of the Institute of Civil Engineers, a fellow of the Institute of Management and a member of the Chartered Institute of Marketing, all in the United Kingdom. He is the Chairman of the East Asian Cement Forum, the Hong Kong Construction Materials Association and the Hong Kong Cement Association and the past Chairman of the Environment Committee of the Hong Kong General Chamber of Commerce. He is a member of the Hong Kong Government’s Waste Reduction Committee and the Convenor of the Hong Kong Business Coalition on the Environment.

Annual Meeting:

The Company’s Annual General Meeting has been scheduled for September 28, 2000 in Toronto. Polyphalt’s 2000 Annual Report and 2001 First Quarter report have been recently mailed to shareholders and may also be viewed on-line at our web site (see below).

Fiscal Year 1999 Results:

Concurrently, the Company has also released its results for the fiscal year ended March 31, 2000. For the first time, the Company revenues surpassed the one million dollar mark; an 85% increase over the prior year. The Company reported a loss on the year of $1,969,000 an improvement of $322,000 over the prior year. Of note for the Company was the completion on March 31, 2000, of a $10 million financing by CKI. With these resources the Company is well positioned to execute its current business plan and continue growing its business.

Fiscal Year 2000 Financial Highlights are as follows:

(In Canadian dollars 000’s)

Fiscal Year Ended

  March 31, 2000 March 31, 1999 Change
Revenues
1,007 544 463
EBITDA
(1,138) (1,572) 434
Profit / (Loss) for the
Period
(1,969) (2,291) 322
Current Assets
10,181 330 9,851

Polyphalt is a Canadian based technology company that develops and commercializes novel polymer modified asphalt products and technology to serve North American and international infrastructure markets. Polyphalt has a broad portfolio of proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials. These processes are used to produce cost-effective and longer-lasting pavements, roofing materials as well as other bituminous building and industrial products. Asphalt is one of the most widely used and basic construction materials, with over 100 million tons produced annually worldwide.

Polyphalt has licensed its technology to an international network of leading asphalt suppliers in Canada, the United States, Australia, Northern Europe and, most recently, China and Hong Kong.

Polyphalt is a member of the CKI group: CKI is a constituent stock of the Hang Seng Index and a flagship company of Hong Kong businessman Li Ka-Shing. In terms of marketing capitalization, CKI is the largest publicly listed infrastructure company in Hong Kong and has three core business: infrastructure materials, transportation, and energy. CKI has investments in Mainland China, Hong Kong, the Philippines, Australia and Canada.

For further information, contact:

For Polyphalt Inc.:


For Polyphalt Inc.         Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario
                                        M
2J 5C9

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For Immediate Release

CDN Symbol: PLYF
SEC Exempt: 82 4585
Issued/Outstanding: 34,058,403

Polyphalt Inc. Signs Master Licensing Agreement for China

Wednesday, July 19, 2000 (Toronto, Ontario) - Polyphalt Inc. is pleased to announce that it has completed a master license agreement with a subsidiary of Cheung Kong Infrastructure Holdings Limited ("CKI"). CKI is a constituent stock of the Hang Seng Index and a flagship company of Hong Kong businessman Li Ka-shing. In terms of market capitalization, CKI is the largest publicly listed infrastructure company in Hong Kong and has three core businesses: infrastructure materials, transportation, and energy. CKI has investments in Mainland China, Hong Kong, the Philippines, Canada and Australia.

The master license agreement calls for an $800,000 CDN master license fee which Polyphalt will recognize in four quarterly during its current fiscal year as well as an overriding royalty on gross revenues received from the licensee’s operations.

Bruce Harbinson, President and CEO of Polyphalt, commenting on the new license agreement says "The People’s Republic of China ("PRC") is in the midst of the largest infrastructure development program since the development of the U.S. Interstate System. Chinese government and industry officials are placing considerable emphasis on meeting world class standards in their expressway construction. High quality polymer modified asphalt technology and materials such as those developed by Polyphalt have attracted extensive interest in China."

Derek Liu, Chairman of Polyphalt and Managing Director of Green Island Cement, a wholly owned CKI subsidiary, said "This license agreement brings together several potent elements. Polyphalt’s advanced technology is now field proven and well established in North America and other parts of the world and Polyphalt has done an excellent job of laying the groundwork with key Chinese officials. CKI has extensive financial resources and, most importantly, a successful track record of investment and operations in China. These factors, combined with rapid growth in market demand, make this an ideal three way partnership for Polyphalt and CKI as well as for the prospective users of Polyphalt products in the PRC."

Polyphalt is a Canadian based technology company that develops and commercializes novel polymer modified asphalt products and technology to serve North American and international infrastructure markets. Polyphalt has a broad portfolio of proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials. These processes are used to produce cost-effective and longer-lasting pavements, roofing materials as well as other bituminous building and industrial products. Asphalt is one of the most widely used and basic construction materials, with over 100 million tons produced annually worldwide.

 Polyphalt has licensed its technology to an international network of leading asphalt suppliers in Canada, the United States, Australia and Northern Europe. This license agreement is the third signed in the first quarter of the Company’s current fiscal year.

Earlier this year, CKI – through Green Island Cement, a wholly owned subsidiary, – invested $10,000,000 in Polyphalt. Polyphalt is a public company whose shares trade in Toronto on the Canadian Dealer Network under the ticker symbol "PLYF".



For further information, contact:

For Polyphalt Inc.:


For Polyphalt Inc.         Bruce Harbinson        or     Bob Barnett
     (Toronto)                 President and CEO                  Director
                           
                                        270 Yorkland Blvd.              Tel: (416) 491-9292
                                        Suite 125                               Fax: (416) 491-9766
                                        Toronto, Ontario
                                        M
2J 5C9

For CKI,                         Derek Liu                                Tel: (852) 2773-6368
(Hong Kong)                Chairman, Polyphalt Inc.      Fax: (852) 2356-7385
                                        Managing Director,
                                        Green Island Cement

 

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For Immediate Release

CDN Symbol: PLYF
SEC Exempt: 82 4585
Issued/Outstanding: 34,058,403


Polyphalt Inc. and Gulf States Asphalt Company Sign U.S. License Agreement

Monday May 15, 2000 Polyphalt Inc. is pleased to announce that it has completed a technology licensing agreement with Gulf States Asphalt Company, a leading supplier of asphalt cement materials in eastern Texas. Gulf States becomes Polyphalt’s sixth American licensee and tenth worldwide. Polyphalt’s process technologies are also licensed throughout Canada, Australia and in northern Europe.

Under the terms of the agreement, Gulf States will gain manufacturing and distribution rights to Polyphalt’s DV™ polymer modified asphalt process technology in Texas. This proprietary process uses recycled rubber as a primary component in the production of high-performance, long-lasting, PMA paving and surface treatment materials. Public and private agencies in Texas have been using increasing amounts of high performance crumb rubber modified asphalt, in particular for hot applied chip sealing products such as AC-15 5-TR, over the past several years. Polyphalt management believes that similar growth in the use of crumb rubber modified asphalt will follow in several other states. Gulf States is headquartered in Houston, Texas. Production is scheduled to commence this summer.

Polyphalt is a Canadian based, publicly traded, technology company that develops and commercializes advanced polymer modified asphalt products and technology to serve North American and international infrastructure markets. The Company has a broad portfolio of proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials. These processes are used to produce cost-effective and longer-lasting pavements, roofing materials as well as other bituminous building and industrial products. Asphalt is one of the most widely used and basic construction materials, with over 100 million tons produced annually worldwide.

On May 12’th Polyphalt announced another licensing agreement with Jebro Inc. in the upper Midwest states. On March 31, 2000 Polyphalt announced completion of a C$10,000,000 private placement with a subsidiary of Cheung Kong Infrastructure Holdings Limited, Hong Kong’s largest diversified infrastructure company. Proceeds from the financing are being used to accelerate development of Polyphalt’s manufacturing capabilities, including its pelletized asphalt products, to expand its current licensing and specialty asphalt programs, to pursue new international business opportunities and to advance the company’s research and development activities.

For further information, contact:

For Polyphalt Inc.:

Bruce Harbinson           or         Bob Barnett 
President and CEO                        Director

270 Yorkland Blvd.               Tel: (416) 491-9292
Suite 125                                Fax: (416) 491-9766
Toronto, Ontario
M2J 5C9

 For Green Island Cement:
Derek Liu                              Tel:   (852) 2773-6368
Director                                Fax:   (852) 2356-7385

 

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For Immediate Release

CDN Symbol: PLYF
SEC Exempt: 82 4585
Issued/Outstanding: 34,058,403

Polyphalt Inc. and Jebro Inc. Sign U.S. License Agreement


Monday May 12, 2000
Polyphalt Inc. is pleased to announce that it has completed a technology licensing agreement with Jebro Inc., a leading supplier of asphalt cement materials in upper Midwest region of the United States. Jebro becomes Polyphalt’s fifth American licensee and ninth worldwide. Polyphalt’s process technologies are also licensed throughout Canada, Australia and in northern Europe.

Under the terms of the agreement, Jebro will gain manufacturing and distribution rights to
Polyphalt’s EPx™ , ELx™ , and DVx™ polymer modified asphalt process technologies in Iowa, Nebraska and South Dakota. These proprietary processes are designed for the production of high-performance,
long-lasting, PMA paving materials.
Jebro is headquartered in Sioux City, Iowa and is a member company of the Asphalt Institute and the
Association of Modified Asphalt Producers. Production is scheduled to commence this summer.

Polyphalt is a Canadian based, publicly traded, technology company that develops and commercializes novel
polymer modified asphalt products and technology to serve North American and international infrastructure markets.
The Company has a broad portfolio of proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials. These processes are used to produce cost-effective and longer-lasting pavements, roofing materials as well as other bituminous building and industrial products. Asphalt is one of the most widely used and basic construction materials, with over 100 million tons produced annually worldwide.

On March 31, 2000 Polyphalt announced completion of a C$10,000,000 private placement with a subsidiary
of Cheung Kong Infrastructure Holdings Limited, Hong Kong’s largest diversified infrastructure company.
Proceeds from the financing are being used to accelerate development of Polyphalt’s manufacturing capabilities,
including its pelletized asphalt products, to expand its current licensing and specialty asphalt programs, to pursue new international business opportunities and to advance the company’s research and development activities.


For further information, contact:


For Polyphalt Inc.:
Bruce Harbinson           or         Bob Barnett 
President and CEO                        Director

270 Yorkland Blvd.               Tel: (416) 491-9292
Suite 125                                Fax: (416) 491-9766
Toronto, Ontario
M2J 5C9

 For Green Island Cement:
Derek Liu                              Tel:   (852) 2773-6368
Director                                Fax:   (852) 2356-7385

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For Immediate Release CDN Symbol: PLYF

SEC Exempt: 82 4585
Issued/Outstanding: 34,058,403

POLYPHALT INC. CLOSES $10 MILLION PRIVATE PLACEMENT

Monday April 3, 2000 (Toronto, Ontario) - Polyphalt Inc. is pleased to announce that it has completed a private placement issuing 21,750,000 common shares from its treasury to Grandwin Holding CK ApS, an arm’s length party to Polyphalt, at a price of Cdn.$0.46 per share for a total investment of $10,005,000. Grandwin has acquired approximately 63% of the issued shares of Polyphalt, or over 50% of its issued and outstanding shares on a fully diluted basis, resulting in a change in control of Polyphalt Inc. Grandwin has no intention of acquiring additional shares of Polyphalt at this time.

Grandwin Holding DK ApS is a Danish company which is a wholly owned subsidiary of Hong Kong based Green Island Cement (Holdings) Limited, itself, a wholly-owned subsidiary of the Cheung Kong Infrastructure Holdings Limited ("CKI"). CKI, a constituent stock on the Hang Seng Index, is the largest diversified infrastructure company in terms of market capitalization in Hong Kong and is one of the largest investors in China’s infrastructure sector. CKI’s three core businesses consist of infrastructure materials, energy and transportation which are strategically positioned in the Asian Pacific Region. With its strong financial position and extensive experience, CKI has ambitious globalization and diversification plans.

Polyphalt is also pleased to confirm the appointments of Messrs. George Magnus, Derek Liu, Kam Hing Lam and Stephen Tsang as directors, as approved by shareholders at the special meeting on Wednesday, March 29, 2000. Messrs. Bruce Harbinson, Zhi Zhong Liang, Robert Barnett and Ralph Haas have remained on the Board of Directors.

Polyphalt is also pleased to announce the addition of three new directors, Mr. Donald Johnston, Mr. Gary Yu and Mr. Holger Kluge. Mr. Johnston is General Manager and a Director of Anderson Asphalt Limited (also a CKI company), a Director of Anderson Asia and a past Chairman of the Institute of Quarrying, Hong Kong Branch. Mr. Yu is an Executive Director of Green Island Cement and has held several senior executive positions with various companies of the Cheung Kong Group. Mr. Kluge served as President of the Canadian Imperial Bank of Commerce, one of North America’s largest financial services institutions, from 1990 until his retirement in May 1999. He currently serves on the Boards of several North American and international companies.

Bruce Harbinson, President and CEO of Polyphalt, said: "The completion of this private placement will bring to Polyphalt an industry partner with the know-how and resources to ensure that our business plan can be realized and that our proprietary processes can be effectively developed and commercialized".

Speaking after the Shareholders Meeting, Derek Liu, Managing Director of Green Island Cement, said: "Polyphalt is an excellent strategic fit with our materials and infrastructure businesses and we welcome the opportunity to participate in the growth of the Company, and to assist the Company’s management in realizing the full value of its technologies."

Proceeds from the private placement financing will be used to accelerate development of Polyphalt’s manufacturing capabilities, including its pelletized asphalt products, to expand its current licensing and specialty asphalt programs, to pursue new international business opportunities and to advance the company’s research and development activities.

Polyphalt is a Canadian based technology company that develops and commercializes novel polymer modified asphalt products and technology to serve North American and international infrastructure markets. Polyphalt has a broad portfolio of proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials. These processes are used to produce cost-effective and longer-lasting pavements, roofing materials as well as other bituminous building and industrial products. Asphalt is one of the most widely used and basic construction materials, with over 100 million tons produced annually worldwide.

Polyphalt has licensed its technology to an international network of leading asphalt suppliers in Canada, the United States, Australia and Northern Europe.


For further information, contact:

For Polyphalt Inc.:

Bruce Harbinson           or         Bob Barnett 
President and CEO                        Chairman

270 Yorkland Blvd.               Tel: (416) 491-9292
Suite 125                                Fax: (416) 491-9766
Toronto, Ontario
M2J 5C9

 For Green Island Cement:
Derek Liu                              Tel:   (852) 2773-6368
Director                                Fax:   (852) 2356-7385

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Mar. 29, 2000
For Immediate Release CDN Symbol: PLYF

SEC Exempt: 82 4585

Issued/Outstanding: 11,993,351

 POLYPHALT INC. RECEIVES SHAREHOLDER APPROVAL OF $10 MILLION PRIVATE PLACEMENT

Wednesday, March 29, 2000 (Toronto, Ontario) - Polyphalt is pleased to announce that its shareholders today overwhelmingly voted in favour of completing a private placement of 21,750,000 common shares to an affiliate of Green Island Cement (Holdings) Limited. A Special Meeting of shareholders had been called for the purpose of obtaining this approval. The shares will be issued at a price of $0.46 per share, for gross proceeds of over $10,000,000. The purchaser, Grandwin Holding DK ApS, a Danish private company, an arm’s length party to Polyphalt, is wholly-owned by Green Island, itself, a wholly owned subsidiary of Cheung Kong Infrastructure Holdings Limited ("CKI").

The private placement is scheduled to be completed on March 31, 2000 and will result in Grandwin owning approximately 63% of the then current issued number of shares or over 50% of the shares on a fully diluted basis. This would result in a change in control of Polyphalt.

Bruce Harbinson, President and CEO of Polyphalt, said: "The completion of this private placement will bring to Polyphalt an industry partner with the know-how and resources to ensure that our business plan can be realized and that our proprietary processes can be effectively developed and commercialized".

Speaking after the Shareholders Meeting, Derek Liu, Managing Director of Green Island Cement, said: "Polyphalt is an excellent strategic fit with our materials and infrastructure businesses and we welcome the opportunity to participate in the growth of the Company, and to assist the Company’s management in realizing the full value of its technologies."

Proceeds from the financing will be used to accelerate development of the Company’s manufacturing capabilities, including its pelletized asphalt products; to expand the Company’s current licensing and specialty asphalt programs; to pursue new international business opportunities; and, to advance the Company research and development activities.

At the meeting the shareholders also approved an amendment to the company’s articles that will permit it to have between 3 and 15 directors at any time. The shareholders also elected a new board of nine directors, contingent on the closing of the private placement, consisting of senior officers of Polyphalt who are current members of the Board, associates of CKI and independent directors with industry experience.

The shareholders also approved at the meeting the issuance of an aggregate of 266,666 common shares to Mr. Bruce Harbinson, the President, CEO and a Director of Polyphalt, Mr. Zhi Zhong Liang, the Vice President, Technology and a Director, and Mr. Larry Firmin, the Vice President, Marketing, as part of new management contracts entered into by Polyphalt with its senior management.

Polyphalt is a Canadian based technology company that develops and commercializes novel polymer modified asphalt products and technology to serve North American and international infrastructure markets. Polyphalt has a broad portfolio of proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials. These processes are used to produce cost-effective and longer-lasting pavements, roofing materials as well as other bituminous building and industrial products. Asphalt is one of the most widely used and basic construction materials, with over 100 million tons produced annually worldwide.

Polyphalt has licensed its technology to an international network of leading asphalt suppliers in Canada, the United States, Australia and Northern Europe.

CKI, a constituent stock of the Hang Seng Index, is the largest diversified infrastructure company in terms of market capitalization in Hong Kong and is one of the largest investors in China’s infrastructure sector. CKI’s three core businesses – infrastructure materials, energy and transportation – are strategically positioned in the Asia Pacific region. With a strong financial position and extensive experience, CKI has ambitious globalization and diversification plans.

For further information, contact:

For Polyphalt Inc.:
Bruce Harbinson       or         Bob Barnett 
President and CEO                     Chairman

270 Yorkland Blvd.               Tel: (416) 491-9292
Suite 125                                Fax: (416) 491-9766
Toronto, Ontario
M2J 5C9

 For Green Island Cement:
Derek Liu                              Tel:   (852) 2773-6368
Director                                Fax:   (852) 2356-7385

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Mar. 01, 2000
CDN Symbol:  PLYF
Sec Exempt: 824585
Issued/Outstanding:11,993,351

POLYPHALT CONFIRMS $10 MILLION FINANCING

Wednesday, March 1, 2000 (Toronto, Ontario) – Polyphalt Inc. today announced, pursuant to a press release dated February 2, 2000, that it has signed an agreement for the issue of approximately 21,750,000 common shares from treasury by way of private placement at a price of CDN. $0.46 per share for a total investment of $10 million. The proposed share issue is subject to obtaining all necessary regulatory and shareholder approval

If and when issued, the purchaser, subsidiary of Hong Kong based Green Island Cement (Holdings) Ltd. (GIC), will acquire approximately 65% of the then currently issued shares of Polyphalt, or over 50% of its then issued and outstanding shares on a fully-diluted basis. This constitutes a change in control of Polyphalt. GIC is an arm's length party to Polyphalt and is a wholly owned subsidiary of the Cheung Kong Infrastructure Holdings Limited ("CKI"). CKI, a constituent stock of the Hang Seng Index, is the largest diversified infrastructure company in terms of market capitalization in Hong Kong and is one of the largest investors in China’s infrastructure sector. CKI’s three core businesses - infrastructure materials, energy and transportation - are strategically positioned in the Asia Pacific region. With a strong financial position and extensive experience, CKI has ambitious globalization and diversification plans.

Commenting on the proposal, Mr. Derek Liu, Director of Green Island Cement (Holdings) Ltd., a CKI subsidiary, emphasized that it is the purchaser’s intention that Polyphalt will continue to operate as a separate public company and that the company’s management and staff would continue entirely or largely unchanged. CKI will assume proportionate Board representation.

Proceeds from the financing will be used to accelerate development of the Company’s manufacturing capabilities, including its pelletized asphalt products; to expand the Company’s current licensing and specialty asphalt programs; to pursue new international business opportunities; and, to advance the Company’s research and development activities.

The company plans to call a special meeting of shareholders, to be held in Toronto on March 29, 2000, to consider and vote on the proposed share issue. The Board of Directors of Polyphalt have agreed to recommend it.

Polyphalt is a Canadian based technology company that develops and commercializes novel polymer modified asphalt products and technology to serve North American and international infrastructure markets. Polyphalt has a broad portfolio of proprietary technologies, several of which combine blends of plastics and rubbers, including recycled materials. These processes are used to produce cost-effective and longer-lasting pavements, roofing materials as well as other bituminous building and industrial products. Asphalt is one of the most widely used and basic construction materials, with over 100 million tons produced annually worldwide.

Polyphalt has licensed its technology to an international network of leading asphalt suppliers in Canada, the United States, Australia and Northern Europe.

For further information, contact:

For Polyphalt Inc.: Bruce Harbinson                                    Tel: (416) 491-9292
                              President & CEO, or                        Fax: (416) 491-9766         

                                        Bob Barnett                                      Tel: (416) 491-9292
                                        Chairman                                            Fax: (416) 491-9766
                                        270 Yorkland Blvd., Suite 125
                                        Toronto, Ontario M2J 5C9            

For Green Island Cement (Holdings) Ltd.:
                                         Derek Liu                                           Tel: 852-2773-6368
                                         Director                                             Fax: 852-2356-7385

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Feb 01, 2000
CDN Symbol:  PLYF

POLYPHALT ANNOUNCES $10 MILLION FINANCING PROPOSAL

Tuesday, February 1, 2000 (Toronto, Ontario) - Polyphalt Inc. today announced that it has signed a letter of intent with a major international trading group to pursue the issue of approximately 21,750,000 common shares from treasury by way of private placement at a price of CDN. $0.46 per share, for a total investment of $10 million.

If and when issued, the intended purchaser, who is at arm's length to Polyphalt, will acquire approximately 65% of the then currently issued shares of Polyphalt, or over 50% of its then issued and outstanding shares on a fully-diluted basis. This will constitute a change of control of Polyphalt.

The proposed share issue is subject to obtaining all necessary regulatory and shareholder approval and is also conditional on the satisfactory completion of due diligence investigations by the investor.

The Company emphasized that it is the purchaser's intention that Polyphalt will continue to operate as a separate public company, and that while they expect proportional Board representation, the Company's management and staff would continue entirely or largely unchanged.

Proceeds from the investment will be used for business development including new products, international expansion, research and development and general corporate purposes.

Polyphalt is a Canadian based technology company, that develops and commercializes novel polymer modified asphalt products and technology. The Company's advanced proprietary processes, originally developed at the University of Toronto, combine blends of plastics and rubbers, including recycled materials, in asphalt to produce durable, high performance paving, roofing and building materials capable of withstanding extreme climatic and service conditions.

Polyphalt was formed in 1992 to develop and commercialize new process technology to improve the performance of asphalt. Asphalt is one of the most widely used and basic construction materials, with over 100 million tons produced annually worldwide. Polyphalt's patented technology can be used to produce cost-effective, and longer-lasting roads, highways, racetracks, airport runways, roofing materials and many other products.

Polyphalt already has a portfolio of nine proprietary processes for polymer modified asphalts (PMAs), and an international network of eight licensees using Polyphalt's processes in Canada, United States, Australia and Northern Europe.

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August 4th, 1998

CDN Symbol:  PLYF
SEC Exempt:  82 4585
Issued/Outstanding:  9,321,073

Polyphalt Inc. today announced that it has completed a private placement offering of 2.3 million Special Warrants at a price of $0.60 each, for gross proceeds of $1,408,400.  After the filing of qualifying prospectus, each Special Warrant will be convertible into one common share of Polyphalt for no additional consideration any time up to July 31, 1999.  In the event that the Ontario Securities Commission does not issue a receipt for a prospectus by 5:00 p.m. on November 13, 1998, each Special Warrant will be convertible into 1.1 common shares.

Proceeds from a portion of the Special Warrants, sold to certain insiders of Polyphalt, and the applicable Special Warrant Certificates, are being held in escrow pending approval by shareholders not involved in this transaction, at a meeting currently scheduled to be held on September 16, 1998.   Proceeds from the financing will be used to accelerate the company's 1998/1999 program which includes development of new manufacturing opportunities.

In announcing the success of this financing, Mr. John Harbinson, Chairman, said that he was pleased that Polyphalt would be in a financial position to proceed with the set up of a pilot facility for the manufacture of highly concentrated polymer modified asphalt pellets.  The pellets will address the logistical constraints currently facing the suppliers of modified asphalts in that they will not have to be kept heated and could be shipped using much lower cost distribution channels.  The pellets could be blended with liquid asphalt without the need for expensive high shear mixing equipment, thereby reducing handling costs and capital investment for the construction industry.

GTL Securities Inc. acted as agent and has been engaged by Polyphalt to act as the company's fiscal agent for the next 12 months.

Polyphalt Inc. is a Canadian-based technology company, focused on the development of novel processes for polymer modification of asphalt.  Polyphalt's advanced proprietary processes, originally developed at the University of Toronto, combine blends of plastic and rubbers in asphalt to produce durable, high-performance paving materials capable of withstanding extreme climatic and service conditions.

Polyphalt also announces that it has issued to the University of Toronto Innovations Foundation, 70,000 common shares of Polyphalt in full satisfaction of all licensing fees and royalties, present and future, payable by Polyphalt to the Foundation pursuant to the original agreement.

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May 28th, 1998

CDN Symbol:  PLYF
SEC Exempt:  82 4585
Issued/Outstanding:  9,321,073

Polyphalt Inc. is pleased to announce a Licensing Agreement for roofing and paving applications with Esha Holding B.V.  Esha is a Netherlands asphalt, chemical products and roofing materials manufacturing company.   This sever-year agreement is an important strategic development for Polyphalt.   It represents the first use of the Company's technology in the commercial roofing products market and its first agreement in Europe.

Under terms of the agreement, Esha gains manufacturing rights to Polyphalt's proprietary process technologies.  These processes will enable Esha to achieve important cost savings in their production of high-performance, long-lasting, polymer modified asphalt roofing and paving materials.  The License Agreement provides for manufacturing in the Netherlands, Belgium, Luxembourg, Germany and Greece.  The development of roofing products will commence immediately and production of paving materials in the summer of 1998.

Since 1927, Esha has successfully focused on the production and sale of bituminous products for road building, waterproofing and roofing.   Esha is a market leader in the Netherlands and operates a large number of manufacturing companies for these products, including its own refinery and tank storage in Amsterdam, as well as a bitumen tanker fleet and an ultramodern research and technology centre in Groningen, the Netherlands.

Polyphalt Inc. is a publicly traded company specializing in the development and commercialization of innovative polymer modified asphalt products and technology for use in paving, roofing and industrial markets.   Individually, each of Polyphalt's processes represent a major technical breakthrough; collectively, they form the world's most advanced portfolio of asphalt modification technologies.  Esha becomes Polyphalt's seventh licensee worldwide.   Polyphalt's process technologies are also licensed throughout Canada, the United States and Australia.

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May 14th, 1998

CDN Symbol:  PLYF
SEC Exempt:  82 4585
Issued/Outstanding:  9,321,073

Polyphalt Inc. is pleased to announce that it has completed a technology licensing agreement with Ashwarren International Inc., a part of The Warren Paving & Materials Group Limited, Canada's largest privately-owned asphalt paving and aggregates company.  This seven-year agreement will significantly expand the use of Polyphalt's technologies in the Canadian construction market.

Under terms of the agreement, Ashwarren gains manufacturing rights to Polyphalt's SPx™, EPx™ and DVx™ process technologies.  These proprietary processes will enable Ashwarren to produce high-performance, long-lasting, polymer modified asphalt paving materials.  The licensed territory includes Ontario and British Columbia in Canada, and parts of upper New York state in the United States.   Production will commence in the summer of 1998.

Since 1902, The Warren Group has contributed to the development and maintenance of Canada's transportation infrastructure through their extensive road building and construction materials operations.  Ashwarren International Inc. operates asphalt cement and asphalt emulsion distribution facilities in both Ontario and British Columbia.  Ashwarren becomes Polyphalt's sixth licensee worldwide.

Polyphalt Inc. is a publicly traded company specializing in the development and commercialization of innovative polymer modified asphalt products and technology for use in paving, roofing and industrial markets.  Individually, each of Polyphalt's processes represents a major technical breakthrough; collectively, they form the world's most advanced portfolio of asphalt modification technologies.

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July 18th, 1997

Polyphalt management is pleased to report an encouraging start to the Company's 1997 fiscal year.  Preliminary figures for the first quarter, ending June 30, 1997, indicate that volume of engineered asphalt produced by Polyphalt licensees was approximately 11,000 tons, an increase of 8% over all of fiscal 1996.  Similar growth was seen in revenues from operations in the first quarter.  License fees and royalties were approximately C$190,000, representing almost 85% f revenues from operations in the entire fiscal 1996 year, and up almost 350% from the same period last year.

Paving projects using Polyphalt technology have been done in six U.S. states, Canada and Australia.  In addition to several major highway projects, Polyphalt has been working with Idaho Asphalt in the supply of high-performance engineered asphalt for the reconstruction of the main runway at Spokane International Airport.   The new California Speedway racetrack in Fontana, California, opened to excellent reviews in June, 1997, with the first Southern California NASCAR race in nine years.   Huntway Refining supplied asphalt engineered with Polyphalt technology to this demanding project.  Our newest licensee, Moose Jaw Asphalt also began operations this quarter.

Polyphalt's 1996 Annual Report and 1997 First Quarter report will be mailed to shareholders and available for distribution by mid-August.  The Company's Annual General Meeting has been scheduled for September 17th, 1997 in Toronto.

Polyphalt Inc. (CDN symbol:  PLYF, 9,271,073 shares outstanding) is pursuing a worldwide commercialization program for its advanced engineered asphalt processes in the paving, industrial and roofing markets.  Polyphalt's technology, originally developed at the University of Toronto, is unique in its ability to produce highly stable blends of plastics and rubber in asphalt.  The versatility of the process allows asphalt materials to be engineered to meet challenging climatic and/or service conditions.  The durability and performance advantages of Polyphalt materials are complemented by the economic and environmental benefits of being able to incorporate recycled plastics and rubbers into the processes.

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March 24th, 1997

Polyphalt Inc. is pleased to announce it has signed its first Canadian license agreement with Moose Jaw Asphalt Inc., a wholly-owned subsidiary of Wascana Energy Inc., a publicly traded senior Canadian oil and gas company.  Moose Jaw Asphalt operates a refinery strategically located adjacent to two pipelines, and processes up to 15,000 barrels per day of heavy crude feedstocks from the Lloydminister and Fosterton districts of Saskatchewan.  The asphalts derived from these high quality crude feedstocks are among the best performing asphalts in the world and are marketed throughout Western Canada and the northwestern United States.  Moose Jaw Asphalt has experienced strong increases in asphalt sales in recent years, and as part of its commitment to quality products, the company has recently commissioned a modified asphalt manufacturing facility which is capable of modifying asphalts with a broad range of materials to meet the new SHRP specifications and other performance grade asphalts that are rapidly gaining market share.

Under the terms of the agreement, Polyphalt's fifth worldwide, and fourth in North America, Moose Jaw Asphalt will gain Manufacturing rights to Polyphalt's proprietary process for the stabilization of plastics in asphalt as well as its new DVx™ process for the devulcanization of crumb rubber from tires.  Polyphalt process technology will be used by Moose Jaw in the production of high-performance, long-lasting polymer modified asphalt paving materials.  The licensed territory provides for distribution rights in Alberta, Saskatchewan and Manitoba in Canada, and North Dakota, South Dakota and Montana in the United States.

Polyphalt Inc. (CDN symbol:  PLYF) is pursuing a worldwide commercialization program for its advanced modified asphalt processes in the paving, industrial and roofing markets.  Polyphalt' technology, originally developed at the University of Toronto is unique in its ability to produce highly stable blends of plastics and rubber in asphalt.  The versatility of the process allows asphalt materials to be engineered to meet challenging climatic and/or service conditions.  The durability and performance advantages of Polyphalt materials are complemented by the economic and environmental benefits of being able to incorporate recycled plastics and rubbers into the processes.

Moose Jaw Asphalt and Polyphalt Inc. are committed to using advanced materials technology to promote and improve the quality of road and highways in Canada and the United States.

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September 11th, 1996

Polyphalt Inc. is pleased to announce that its U.S. subsidiary, Polyphalt America Inc., has signed a License Agreement with Idaho Asphalt Supply Inc.   Polyphalt process technology will be used by Idaho Asphalt in the production of high-performance, long-lasting, polymer modified asphalt paving materials.

Idaho Asphalt, a privately-held company headquartered in Idaho Falls, is a leading supplier of asphalt cement in the northwestern U.S. market.   Idaho Asphalt has made a strategic commitment to being at the forefront of the rapidly growing market for modified asphalt as demonstrated by its investment in three state-of-the-art manufacturing facilities.

Under the terms of the agreement, Polyphalt's third in North America, Idaho Asphalt will gain manufacturing rights to Polyphalt's proprietary process for the stabilization of plastics in asphalt as well as its new DVx™ process for the devulcanization of crumb rubber from tires.  The licensed territory provides for distribution rights in Idaho and Montana, as well as parts of Wyoming, Washington, Oregon and Nevada.  Idaho Asphalt has recently supplied asphalt modified using Polyphalt's technology to paving projects on I-15 in Idaho and to Sylvan Pass in Yellowstone National Park.

Polyphalt Inc. (CDN symbol:  PLYF) is pursuing a worldwide commercialization program for its advanced modified asphalt processes in the paving, industrial and roofing markets.  Polyphalt's technology, originally developed at the University of Toronto, is unique in its ability to produce highly stable blends of plastics and rubber in asphalt.  The versatility of the process allows asphalt materials to be engineered to meet challenging climatic and/or service conditions.   The durability and performance advantages of Polyphalt materials are complemented by the economic and environmental benefits of being able to incorporate recycled plastics and rubbers into the processes.

Idaho Asphalt and Polyphalt Inc. are committed to using advanced materials' technology to promote and improve the quality of roads and highways in the United States.

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May, 1996

Effective May 1st, 1996, Polyphalt has consolidated its management, administration and research and development facilities in north central Toronto.  The new facilities will support the growing commercialization of Polyphalt's unique polymer modified asphalt technologies.

Polyphalt's new headquarters includes a 5,000 square foot state-of-the-art laboratory for asphalt testing and development.  In order to provide the highest level of service to its growing network of licensees, Polyphalt is currently expanding its Technical Services department.  The new laboratory has the capacity to accommodate a four-fold increase in Polyphalt's technical services capabilities.

The new laboratory is fully-equipped to perform a wide variety f analytical tests including performance grade testing to ensure compliance with the new U.S. Federal Highway Administration and American Association of State Highway Transportation Officials specifications.

The new facilities have been designed to support Polyphalt's accelerating development and commercialization program.  Polyphalt has been actively working with its two existing licensees in the United States preparing for the 1996 commercial paving season and the new laboratory will provide the necessary analytical and testing support for commercial scale paving in California and the Missouri and southern Illinois markets this year.

New licensing agreements are actively under negotiation both in North America and internationally and Polyphalt anticipates completing a minimum of four agreements in the current fiscal year.  Further details on the above activities will be available in late May when Polyphalt's annual report will be made available.

Polyphalt Inc. is a Canadian-based technology company that specializes in the development of proprietary processes for high-performance, long-lasting, polymer modified asphalts.  The technical advantages of the Corporation's portfolio of engineered asphalt technologies are complemented by the environmental and economic advantages of being able to incorporate recycled plastics and rubbers into the processes.

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August 18th, 1995

Toronto-based Polyphalt Inc. is pleased to announce the signing of a License Agreement with Polymer Asphalt Products, L.C. of St. Louis, Missouri.  Polyphalt process technology will be used by Polymer Asphalt Products in the production of high-performance, long-lasting, polymer modified asphalt paving materials.  The market for modified paving asphalt is anticipated to grow severalfold over the next five years as new asphalt specifications are introduced in the United States.

Under the terms of the agreement, Polyphalt's second in North America, Polymer Asphalt Products will gain manufacturing rights to Polyphalt's proprietary processes for the stabilization of plastics in asphalt as well as for the devulcanization of crumb rubber from waste passenger tires.  The licensed territory provides for exclusive distribution rights in Missouri and Illinois, plus non-exclusive rights in Iowa, Nebraska, Arkansas and portions of Indiana, Kansas, Tennessee and Kentucky.

Polyphalt Inc. (CDN symbol:  PLYF) is pursuing a worldwide commercialization program for its advanced modified asphalt processes in the paving, industrial and roofing markets.  Polyphalt technology, originally developed at the University of Toronto, is unique in its ability to produce highly stable blends of plastics and rubber in asphalt.  The versatility of the process allows asphalt materials to be engineered to meeting challenging climatic and/or service conditions.   The durability and performance advantages of Polyphalt materials are complemented by the economic and environmental benefits of being able to incorporate recycled plastics and rubbers into the processes.

Polymer Asphalt Products is associated with Lionmark Construction Companies of St. Louis.  Lionmark is a well-established, privately-owned, group of construction companies that, through one of its wholly-owned subsidiaries, has a leading position in the supply of asphalt cement in the Missouri and southern Illinois markets.   Polymer Asphalt Products recently completed construction of a state-of-the-art blending facility for production of polymer modified asphalt at an asphalt terminal on the Mississippi River.  The central geographic location of the terminal is ideal for product distribution by barge, rail and truck.  To take full advantage of this location, and expedite market penetration, the agreement also anticipates distribution of Polyphalt products, in concentrated form, to other designated asphalt suppliers.

Polymer Asphalt Products and Polyphalt Inc. are committed to using advance materials technology to promote and improve the quality of roads and highways in the United States.

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April 28th, 1995

Toronto-based Polyphalt Inc. is pleased to announce the signing of its first North American License Agreement with Huntway Partners, L.P. of Los Angeles, California.   Under the terms of the agreement, Huntway will gain manufacturing and distribution rights to Polyphalt's proprietary processes for California, selected other markets in the southwestern United States and parts f Mexico.  Polyphalt process technology will be used by Huntway in the production of high-performance, long-lasting, polymer modified asphalt paving materials.

Polyphalt Inc. (CDN symbol:  PLYF) is pursuing a worldwide licensing program for its advanced modified asphalt processes in the paving, industrial and roofing markets.  Polyphalt technology, originally developed at the University of Toronto, is unique in its ability to produce highly stable blends of plastics and rubber in asphalt.  The versatility of the process allows asphalt materials to be engineered to meet challenging climatic and/or service conditions.  The durability and performance advantages of Polyphalt materials are complemented by the economic and environmental benefits of being able to incorporate recycled plastics and rubber into the process.

Huntway Refining Company fills a unique niche in the petroleum industry with two California refineries designed principally to produce liquid asphalt for use in road paving, construction and roofing materials.  Huntway, as a member company of the National Asphalt Paving Association, the Association of General Contractors of California and the Asphalt Pavement Association of California, is committed to using advanced materials technology to promote and improve the quality of roads and highways in the western United States and Mexico.

The company's partnership units are traded on the New York Stock Exchange (symbol:  HWY).

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November 15th, 1994

Polyphalt Inc. President Bruce Harbinson formally launched the company's breakthrough technology for asphalt modification into the Australian market today with a presentation at the 9th International Asphalt Conference of the Australian Asphalt Paving Association.  The conference, held at the Gold Coast, Queensland, is being attended by several hundred leading industry and government road authorities from over 20 countries.

Polyphalt modified asphalt will be produced, under license, in Australia, by SAMI Pty. Ltd., one of Australia's foremost suppliers of high quality paving materials.  Polyphalt technology,, using proprietary combinations of plastics and rubbers, significantly improves the performance and durability of pavements over regular asphalt, resulting in smoother, safer, more cost-effective roads  The engineering advantages of Polyphalt modified asphalts are complemented by the environmental advantages of being able to create large downstream markets for plastic and tire rubber.

Toronto-based Polyphalt Inc., a publicly traded company (CDN symbol PLYF) is pursuing additional licensing opportunities with leading asphalt paving and roofing companies in North America, Latin America, Europe and the Far East.

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Polyphalt Inc.
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