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EcoSynthetix Announces Contract with Glatfelter to Supply EcoSphere® biolatex® Binders
December 17, 2012
BURLINGTON, ON, Dec. 17, 2012 /CNW/ – EcoSynthetix Inc. (TSX: ECO), a renewable chemicals company that produces a family of commercially proven bio-based products, today announced that P. H. Glatfelter (Glatfelter) (NYSE:GLT) has signed a long term agreement to use EcoSphere® biolatex® binders at its mills in Spring Grove, Pennsylvania, and Chillicothe, Ohio. Glatfelter will be using the biolatex binders in both mill locations for improved coating formulations and to further improve its environmental footprint. Glatfelter is a global manufacturer of specialty papers and fiber-based engineered materials including NatureSolv™ technology that utilizes naturally-based, organic solvents to create a carbonless capsule that is more environmentally responsible and is used in every single Glatfelter carbonless brand.
"Continuous Improvement is one of Glatfelter's core drivers. We strive daily to improve our safety, our process, our products and our environment. Our decision to use EcoSphere biolatex binders is a natural choice that aligns with these core values," saidDebabrata Mukherjee, VP & GM, Specialty Papers of Glatfelter. "Evaluating existing products and developing new products to meet customer needs with minimal environmental impact are part of our product development process. Implementing efficient production practices and adopting new innovations, such as the green chemistry EcoSynthetix uses in its binders, all contribute to lessening our environmental impact while improving product performance."
"Glatfelter's commitment to innovation and sustainability fit perfectly with our EcoSphere offering. Glatfelter clearly recognizes, and values, the benefit that our EcoSphere biolatex binders provide to the environment relative to traditional petroleum-based alternatives," said John van Leeuwen, Chief Executive Officer of EcoSynthetix. "Our ability to provide them with a sustainable alternative that met or exceeded the properties of petroleum-based binders won the account."
The long term agreement includes volume projections in the first year with volume increases over time. Glatfelter anticipates using a significant substitution rate of EcoSphere biolatex to traditional binder.
About Glatfelter (www.glatfelter.com)
Headquartered in York, PA, Glatfelter is a global manufacturer of specialty papers and fiber-based engineered materials, offering over a century of experience, technical expertise and world-class service. U.S. operations include facilities in Spring Grove, PA, and Chillicothe and Fremont, OH. International operations include facilities in Canada, Germany, France, the United Kingdom and the Philippines, a representative office in China, and a sales and distribution office in Russia. Glatfelter's sales approximate $1.6 billion annually and its common stock is traded on the New York Stock Exchange under the ticker symbol GLT.
About EcoSynthetix Inc. (www.ecosynthetix.com)
EcoSynthetix Inc. is a renewable chemicals company specializing in bio-based products that can be used as inputs in industrial manufacturing for a wide range of consumer products. The Company's products offer a reduced carbon footprint and are marketed primarily on the basis of lower cost, stable pricing and equal or superior performance. EcoSynthetix's lead product,EcoSphere® biolatex® binders, is used commercially by a number of the global top 20 manufacturers in the coated paper and paperboard industry.
Forward Looking Statements
Certain statements in this Press Release constitute "forward looking" statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, objectives or achievements of the Company, or industry results, to be materially different from any future results, performance, objectives or achievements expressed or implied by such forward looking statements. These statements reflect our current views regarding future events and operating performance and are based on information currently available to us, and speak only as of the date of this Press Release. These forward looking statements involve a number of risks, uncertainties and assumptions and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such performance or results will be achieved. Those assumptions and risks include, but are not limited to, the fact that our results of operations and business outlook are subject to significant risk, volatility and uncertainty. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward looking statements, including the factors identified in the "Risk Factors" section of the Company's December 31, 2011 Annual Information Form that can be found at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described in this Press Release as intended, planned, anticipated, believed, estimated or expected. Unless required by applicable securities law, we do not intend and do not assume any obligation to update these forward looking statements.
John van Leeuwen
Chief Executive Officer
Phone: (289) 288-5010
Phone: (416) 815-0700 (Ext.238)