CALIFORNIA PRODUCTS ANNOUNCES NEW EXECUTIVE APPOINTMENTS
Company Brings New CEO and CFO to Fuel Growth through Market Expansion, Increased Brand Awareness and Acquisition
ANDOVER, Mass. – June 6, 2008 – California Products today announced that Peter Longo and Steven McMenamin will join the Company as Chief Executive Officer and Chief Financial Officer, respectively, effective June 1. Longo will be replacing longtime President and CEO Joe Junkin, who will now act in an advisory capacity, and McMenamin succeeds Joseph DeAngelis, who has retired. Both Joe Junkin and Joe DeAngelis will remain on the Board of Directors and continue to advise on the strategic direction of the company.
“On behalf of the Board of Directors, I am pleased to welcome Peter and Steve to California Products,” said Rob Bittencourt, director of California Products and a principal with Apollo Capital Management, a strategic investor in the company. “They are uniquely qualified to build upon California Products’ success and drive the long-term execution of our strategic plan.”
“I am excited to join California Products and look forward to working with the dedicated people that have built the business,” Longo said. “This company has achieved an outstanding reputation in their markets by providing customers quality products and outstanding service. They are also known as a company with tremendous integrity.”
Prior to joining California Products, Longo was President and CEO of OSI Sealants, Inc., a division of Sovereign Specialty Chemical, Inc, which was sold to Henkel Corp. There, Longo had profit and loss responsibility for the building material division, led the strategic planning process and formulated the corporate vision and strategic direction.
McMenamin formerly served as CFO and Chief Operations Officers at automotive equipment manufacturer, Pixley Richards Inc. He was most recently employed as the Vice President of Finance for Polymer Plainfield Companies located in Plainfield, Illinois. He will now oversee California Products’ various financial functions, including finance and accounting, financial planning and analysis, regulatory and risk management. He will also serve as a strategic partner in advancing the growth of the company under its new advisors, Apollo Capital Management.
About California Products
Headquartered in Andover, Massachusetts, California Products is a leading producer of architectural coatings, including 2010 and Fres-Coat Velvet, the #1 house paints as rated by a leading consumer magazine for ten consecutive years. Its Recreational Products Division is the world’s largest producer of acrylic athletic surfacing materials, primarily for tennis and running tracks. DecoTurf® and Plexicushion® tennis surfacing products are selected for use at the world’s most prestigious tennis events including the US Open and the Australian Open. Fiberlock Technologies offers the broadest and most comprehensive product lines of for mold remediation as well as lead and asbestos encapsulation.
For more information, visit www.calprocorp.com
Contact: Traci Simpson 978-623-9980, Ext. 232
traci@calprocorp.com
www.calprocorp.com
###
PACIFIC LIFE OPEN TO BE PLAYED ON PLEXIPAVE
CALIFORNIA PRODUCTS PLEXIPAVE IW SURFACE SELECTED FOR INDIAN WELLS
ANDOVER, MA, March, 2008 –Plexipave, one of the most recognized tennis court surfaces in the world, announced that the Pacific Life Open, the largest attended tournament outside of the Grand Slams, will be played on their Plexipave IW tennis surface. The official ATP Masters Series and Sony Ericsson WTA Tour event runs from March 10 – March 23 at the Indian Wells Tennis Garden. The first major tennis event of the season on U.S. soil features more than 250 of the best men and women players competing in the second largest tennis stadium in the world, located just outside of Palm Springs, California.
The Plexipave IW System was specifically designed and manufactured to meet the rigorous demands of this tournament notably challenged by play in a warm, dry, desert climate. Plexipave IW is manufactured to a medium-slow International Tennis Federation (ITF) surface pace rating, that lets players compete with a variety of playing styles because of a greater definition in the speed of play and a consistent ball bounce. The unique ATP Masters signature Pro Purple® court color scheme improves visibility for players, fans and television viewers.
The Australian Open kicked started the tennis year by choosing to play on a new surface, Plexicushion Prestige, and this will be the tenth consecutive year Plexipave IW has been the playing surface at Indian Wells” said Arthur Tucker, Vice President of Recreational Products of California Products Corporation. “Plexipave is honored and proud to be selected as the playing surface at this esteemed tennis venue.” Other ATP and WTA events played on Plexipave include Las Vegas, Memphis, Del Ray Beach, Stockholm, Los Angeles, and Stanford, among other high profile venues.
About Plexipave
Plexipave is the world's largest manufacturer of acrylic sports surfacing systems and surface preparation products. Our acrylic sport surfaces are installed in residential, commercial, institutional and tournament locations around the world. As a member of the American Sports Builders Association (ASBA) since 1968, Plexipave supports the organization's goals of quality construction. Plexipave Sport Surfacing Systems is a division of California Products Corporation.
Media Contacts:
Traci Simpson
California Products Corporation
P: 978-623-9980
F: 978-623-9960
E: info@plexipave.com
APOLLO MANAGEMENT MAKES PRIVATE EQUITY INVESTMENT IN CALIFORNIA PRODUCTS CORPORATION
Andover, MA. USA – October 2, 2007 - Affiliates of Apollo Management have agreed to make a strategic investment in California Products Corporation and its wholly-owned subsidiary Fiberlock Technologies. Headquartered in Andover, Massachusetts, California Products is a leading producer of architectural coatings, including Fres-Coat Velvet, the #1 rated house paint by a leading consumer magazine for eight consecutive years. Its Recreational Products Division is the world’s largest producer of acrylic athletic surfacing materials, primarily for tennis. DecoTurf® and Plexicushion® tennis surfacing products are selected for use at the world’s most prestigious tennis events including the US Open and the Australian Open. Fiberlock Technologies offers the broadest and most comprehensive lines of products for mold, lead, asbestos restoration and mobile containment.
“This strategic alliance with Apollo provides California with excellent growth prospects, the ability to maintain its current management structure, corporate culture, and the opportunity to enhance customer services,” said Joe Junkin, CEO & President of California Products. Junkin feels that it is also critical today to have solid financial resources to expand market and brand presence while also planning for additional acquisitions.
“Joe Junkin and his management team have built a world class organization and we are proud to have the opportunity to forge this strategic partnership,” said Matthew Constantino, a partner with Apollo. “Both California Products and Fiberlock have developed reputations as leaders and innovators in their market niches due to a highly talented management team and strong customer and supplier relationships.”
Apollo is a leading private equity, debt and capital markets investor with more than 16 years of experience investing across the capital structure of leveraged companies. This firm employs more than 70 investment professionals and has offices in New York, London and Los Angeles. Since its inception, Apollo has invested over $16 billion in a wide variety of industries both domestically and internationally. The firm’s most recent private equity fund and its co-investment affiliate has capital commitments of $11.6 billion.
Based in Andover, Mass., California Products Corporation is an innovative manufacturer of quality paints, coatings, and sports surfacing systems since 1926. For more information visit www.calprocorp.com.
Contacts:
California Products Corporation
Joseph Junkin
Chief Executive Officer
978-623-9980
Apollo Management
Matthew Constantino
Partner
212-515-3200
NEW SURFACE FOR THE AUSTRALIAN OPEN
PLEXICUSHION® SELECTED FOR GRAND SLAM TENNIS TOURNAMENT
Andover, MA. USA – June 6, 2007
Tennis Australia announced the selection of Plexicushion Prestige as the Surface of the Australian Open. The decision was made after an extended review process which focused on the upgrade of Melbourne Park and a broader program focusing on the upgrade of tennis facilities throughout Australia. Removal of the old surface began on June 4, 2007. The Plexicushion surface will be supplied and installed by Wm. Loud (Aust.) Pty. Ltd. of Melbourne. The construction will be completed in time for the 2008 tournament. Lead up tournaments in Australia, New Zealand and the Middle East will also convert their facilities to Plexicushion. The worldwide network of Plexipave contractors will insure consistency at all events.
The key advantages leading to the change were:
- Plexicushion Prestige is a cushioned acrylic surface with a worldwide reputation for consistency, comfort and durability.
- Plexicushion System products are available throughout Australia and the world through Authorized Applicators.
- Plexicushion is known for delivering uniform bounce, speed of play from court to court and site to site. The medium pace allows players to train for all aspects of the game.
- The shock absorbing properties of Plexicushion are engineered to allow players to play “on the court” not “in the court”.
Plexicushion Prestige is classified by the International Tennis Federation (ITF) as a Category 2 speed of play. The Australian Open will have a unique pace to meet the demands of the professional players.
Based in Andover, Massachusetts, the Plexipave System is a division of California Products Corporation, an innovative manufacturer of sport surfaces, and quality coatings since 1926. Plexicushion and Plexipave surfaces are used at ATP, WTA, Davis Cup, Fed Cup, leading universities and club facilities around the world. www.plexipave.com
Plexipave was the world’s first acrylic tennis surface. It is the largest selling brand of acrylic tennis court coating in the world.
Australian Plexipave is the distributor of Plexicushion/Plexipave System products in Australia and New Zealand. www.plexipave.com.au/
Founded in 1874 is a specialty civil works and sport surfacing contractor based in Sunshine, Victoria, Australia. They have been Authorized Applicators of the Plexipave system for over thirty years. They have a reputation for engineering and construction excellence. /www.wmloud.com.au/
Blue Ridge boosters raise $75,000 for county's first rubberized track
by Joel FitzPatrick, The Greer Citizen, Greer, SC
June, 2006
When attending a Blue Ridge High sporting event, it isn’t difficult to see how much the community cares for its athletes.
The home stands are almost always full during basketball and football seasons, and parents and students alike travel in droves when the teams are playing away from home.
Wanting the best for its athletes, the Blue Ridge High booster club recently decided to do something to ensure the safety of the youths. Without any help from the school district, the booster club recently purchased the first rubberized track in Greenville County. The track, which is valued at $75,000, is scheduled to be completed by the end of the month.
“About four years ago, we decided that something needed to be done,” said Judy Bryant, former booster club president and currently the head of special projects for the group. “We wanted to do this because too many of our athletes were getting injured because of the condition our track. M.J. Suber ran track and suffered an injury that kept him out during football season. Kayla Carlisle ran track too, and missed the start of basketball season because of a foot injury.”
The Plexitrac Lightning Track System, was purchased from Plexitrac of Pennsylvania, and is being installed by Carolina Courtworks of North Carolina. The Plexitrac Lightning is an all-weather running track system comprised of select black SBR rubber granules bound together with black pigmented Plexitrac Polyresin Binder. Lightning is then top- coated with a highly pigmented black acrylic finish coat of Plexitrac coating for an additional long-term ultraviolet light sensitivity. Although the new surface will greatly benefit track athletes, Bryant said the entire athletic program will benefit. “Every student-athlete will benefit from this new surface,” Bryant said. “(Football) Coach David Farnham ran on a little strip of it the other day, and was very excited about it. He said that knew it was going to make a huge difference, and couldn’t wait for his players to have the chance to get out and run on the track.” “We wanted to do this for every student athlete at Blue Ridge. Of 80 student athletes, 67 of them had a 3.7 grade point average or better. I think that says a lot, and I believe we need to give our kids every chance we can to succeed on the field and in the classroom. We can’t do that if we don’t supply them with the right equipment and facilities.” If the track is taken care of, it has the potential to last as long as 15 years, compared to eight to ten years for most tracks. The booster club was able to raise the money for the track through concession sales and by selling ads. Greer State Bank has also helped with a loan, and any outside help will be appreciated. “Unfortunately, we aren’t like Greer and Riverside, and in a position to get help from the city,” Bryant said. “We have had to do all of this on our own. If anyone is interested in helping, we would love some support from the community.”
Collegiate Athletes Prepare for the Pros on Plexipave Courts
Schools that offer Plexipave tennis surfaces are better preparing players to compete at ATP and WTA events.
May, 2005
With the level of competition increasing to unprecedented heights in the sport of professional tennis, universities are trying to keep pace with the caliber of play. One way they are doing so is by providing their players with Plexipave courts. Plexipave Sport Surfacing, manufacturer of the most popular court surfaces for WTA and ATP tournaments is also the court of choice at hundreds of university facilities around the world.
Shoes, racquets, balls and clothing are all items that are used by professionals and student athletes alike. A major factor in college competition was being overlooked; the surface. They wear the same sneakers and even use the same racquets as the pros. Collegiate athletes need to play on the same courts as the pros. The surface will affect the velocity of a ball, the traction of the player, and the stamina and safety of the player. However the consistency of a Plexipave surface is probably the number one reason it's so popular. Whether it's a power slammer at the 2006 NCAA championships at Stanford, a finesse player at the 2005 Asian Games in Macau or even a junior varsity 3rd string freshman at Princeton, the surface is consistently the same. The training a junior player receives on a Plexipave surface will allow for a natural segue to competition on the same surface at an ATP or WTA event.
The Plexipave system is an all-weather, durable, quick drying color surface that provides superior resistance to deterioration from ultra-violet rays. All of the surfaces have been classified by the International Tennis Federation (ITF) for speed of play rating.
PLEXIPAVE SURFACE USED TO HELP BEAUTIFY THE CITY ABU DHABI, UAE
Plexiflor® multi-use surface used at The Corniche Park, the city's largest recreational facility.
Andover, MA - January, 2005 - Plexipave Sport Surfacing Systems, a division of California Products Corporation was chosen to supply the surface for the bicycle paths in the new Corniche Park recreational facility, the largest of its kind in the city of Abu Dhabi, UAE.
The goal of the project is to better the quality of life by providing state-of-the-art recreational facilities for residents of the capital city and to help increase tourism to the city and further boost the attraction as a world class tourism destination. The entire park encompasses almost 4 miles and will feature pedestrian walking paths and cycling paths. "We're extremely confident in the product selection and are happy to see our products used in this type of redevelopment project," says Art Tucker, Vice President of California Products Corporation/Plexipave Sport Surfacing. The UAE is known for its unique architecture and playful use of shapes and colors. The Corniche Park project is another example of using the best available products to add color and life to this area.
Plexiflor is an all-climate, non-abrasive, multi-purpose surface. Multi-use surfaces need to take a lot of abuse. Plexiflor's waterborne technology provides an extremely durable, easily maintained and color intense surface. It is available in nine vibrant colors. Plexiflor is ideal for walkways, bicycle paths, basketball courts, volleyball courts, in-line hockey arenas and even skateboard parks. For more information about Plexiflor or any of the surfacing systems available from Plexipave, visit the company website at www.plexipave.com or call 800-225-1141 ext. 2.
2004 China Open Being Played On Plexipave Tennis Courts
The Beijing Tennis Center hosts this year’s China Open on the Plexipave tennis surface.
Andover, MA - November, 2004 - Plexipave Sport Surfacing is pleased to announce that this year’s China Open Tennis Championships are being played on their Plexipave tennis surface.
There are 15 Plexipave courts installed at the Beijing Tennis Center, which plays host to this year’s ATP China Open. Match play will be held from September 10th -26th, 2004. The 15 Pro-Purple color courts; include 1 center court with seating capacity of 10,000 within the complex.
Among the professional and collegiate ranks, the Plexipave surfaces have a reputation for being a true
and consistent surface. Each surface offered by Plexipave Sport Surfacing can be fine tuned to provide a precise speed of play. The Plexipave system is an all-weather, durable, quick drying color surface that provides superior resistance to deterioration from ultra-violet rays. The surface is formulated for use over asphalt or concrete. The system is available in ten popular standard colors. Custom colors are available to meet individual needs. Plexipave has been the choice of tournament installations around the world. All of the tennis surfaces have been classified by the International Tennis Federation (ITF) for speed of play rating.
Popularity of Blue Running Tracks is Growing
Plexipave Sport Surfacing introduces new blue Plexitrac running track to meet demand.
Andover, MA - September, 2004 - Plexipave Sport Surfacing has introduced a new blue color for their Plexitrac running track systems. The standard black and red colors have always been the most popular in the sport of running, however more and more facilities are going blue.
Plexipave Sport Surfacing, a division of California Products Corporation sells thousands of miles of Plexitrac track coatings each year. Red and black have always been the most popular colors for these surfaces. However in recent years, Plexipave has been receiving more and more orders for blue running tracks. The company has always offered a blue surface color, but it has never been very popular because of the stigma associated with other blue tracks being prone to fading and color change. Since the recent influx of blue track requests, Plexipave has introduced another shade of blue to give facility managers another option. The enhanced UV resistance of Plexitrac has made the color blue a real option for track surfacing. Recently this new color was used for a Plexitrac installation at a high school in Wilmington, Massachusetts whose school colors are white and blue.
Plexitrac systems are high performance track surfacing systems that embody today's most innovative technological advances. PolyResin Technology was specifically developed to provide the ultimate in performance and safety for the athlete. The unique structural mix of select water-based resins provide a durable, cohesive, environmentally friendly track surface with excellent UV resistance and long-term color stability. Plexitrac systems are ideal for new construction as well as for retexturing, rejuvenating or enhancing existing asphalt, SBR latex, urethane or Reslite type running tracks. Plextrac Systems allow for the specification of the track performance to meet the demands of the decision makers, athletes and budget. Plexitrac offers three distinct, all-weather track systems, each level providing unique characteristics and attributes.
BUILDING THE SPORTS & RECREATION INFRASTRUCTURE IN THE DOMINICAN REPUBLIC
California Products Corp. supplies 100 Plexiflor® courts for this $56 mil. project.
Andover, MA - June, 2004- Plexipave® Sport Surfacing Systems, a division of California Products Corporation has received the contract to supply 100 Plexiflor® multi-sport courts to the Dominican Republic.
In addition to the 100 multi-sport courts, the $56 million dollar project also includes 115 metal recreation buildings, 30 playgrounds, 10 polyurethane running tracks, 15 NCAA and 11 NBA-grade wood floor basketball courts to be installed at various locations throughout the country. The funding for the major redevelopment comes from the Ex-Import Bank of the United States and requires 85% of the materials used for the project to come from U.S. suppliers. The Ministry of Sports of the Dominican Republic (S.E.D.E.F.I.R.) has contracted with Child Safe Products Inc., Amityville, NY to complete this project. The 100 Plexiflor surfaces being installed will be at indoor facilities intended for use as basketball and volleyball courts. Plexiflor is a reinforced, smooth acrylic coating especially formulated for use over asphalt or concrete. For this project, the surface will be a 5 layer system installed over concrete. The finish color is Pacific Blue. "We are pleased to be working with California Products for the 100 acrylic courts as part of this project. We've used the Plexiflor surface before and are extremely happy with the ease of application and the durable, affordable, long-life we can expect from the product," says Guy Digennaro of Child Safe. Child Safe Products is supplying all of the red urethane running tracks, the rubberized surfacing and structures at each playground and will be installing the wood floors at the indoor basketball courts. "This 2-1/2 year-long project which is scheduled to be complete by September, 2005 is a great boost to the recreation and sports infrastructure in the Dominican. It's also keeping our companies very busy," comments Digennaro.
Plexiflor is an all-climate, non-abrasive, multi-purpose athletic surface. Multi-sport courts require a surface that can take a lot of abuse. Plexiflor's waterborne technology provides an extremely durable, easily maintained and color intense surface. It is available in nine vibrant colors. Plexiflor is ideal for basketball courts, volleyball courts, in-line hockey arenas and even skateboard parks. "The five layer system that is being used for this project is going to provide an excellent playing surface. Considering the location of the installations, we were a little concerned about the extreme heat that these courts would be subjected to. Our R&D lab worked with Joe Guercia, of Child Safe to make sure we had the right product for the job. We're extremely confident in the product selection and are happy to see our products used in this type of development project," says Art Tucker, Vice President of California Products Corporation/Plexipave Sport Surfacing. For more information about Plexiflor or any of the surfacing systems available from Plexipave, visit the company website at www.plexipave.com or call 800-225-1141 ext. 2
Protecting a Skate Park Surface with Plexiflor®
Andover, MA -March, 2004- Plexipave Sport Surfacing Systems, a division of California Products Corporation offers Plexiflor® to provide protection and color to skate park surfaces. Plexiflor is a fiber reinforced, smooth acrylic coating especially formulated for use over asphalt or concrete
Plexiflor provides an easily maintained, color intense surface. It enhances the performance of the Plexipave® system to accept the concentrated wear of skate parks. Plexiflor is an all-weather, non-abrasive surface which is an economic and durable alternative to urethane and wood surfacing systems. Its waterborne technology and compatibility with standard surfacing acrylics allows for the conversion of under-utilized sport facilities. Plexiflor is available in nine vibrant colors. "Within the last 10 years, we have seen more and more underutilized basketball and in-line hockey surfaces converted into skateboard parks. These parks require a surface that can take a lot of abuse. In the 90's we developed Plexiflor as a surface for the very demanding sport of in-line hockey, it's just a perfect fit for the new skateboard parks. Plexiflor is a surface that can take a tremendous amount of use and abuse and still maintain its color and surface performance," says Art Tucker, Vice President of California Products. To find out more about Plexiflor and find an Authorized Applicator in your area, visit Plexipave online at www.plexipave.com or call 800-225-1141 ext. 2.
Solving a Problem for Developing National Tennis Programs
Andover, MA - December, 2003 - In any part of the world, a tennis facility can be an asset or a liability to a national tennis program. Obtaining funding for renovations to these facilities can be a challenge. California Products Corporation and the International Tennis Federation (ITF) have recognized this as a major issue in many countries and offer a solution. Most national tennis programs have a limited budget that won't allow the upgrading of a facility to international tournament standards. However, working with the ITF to work within these budget constraints, California Products has developed an affordable latex surface coating to rejuvenate the courts at these facilities and breathe life into the country's national tennis program.
AllSport, improves the texture and color of asphalt or concrete courts. Application of this surface is relatively simple and can be accomplished with minimal training. Installations can be performed by local contractors. With cooperation from the ITF a demonstration project was completed in Tirana, Albania in October, 2003. Mr. Tonin Mema of the Albania Tennis Federation and Mr. Ahmad Sabbagh of California Products led a small team that used the new AllSport product completing the surface improvements of five courts at the Tirana Tennis Club. The Federation and local players were very pleased with the AllSport surface and believe the improvements will act as a starting point for future development.
Plexipave Court Wins USTC & TBA's Court Of The Year
Andover, MA - Andover,
MA - February, 2003 - - A private residence in Palm Desert, California
with a Plexipave court has won the prestigious "Tennis Facility of
The Year" award from the USTC & TBA. The Plexipave surface used
at this facility is the Plexicushion
Prestige system. Zain Tennis Courts, Inc of Orange, California was
the company that installed the surface.