Polymer Group Inc. (PGI), North Charleston, S.C., is in the process of finalizing a restructuring
plan, which the company hopes will result in a fourth-quarter restructuring charge of no more than
$150 million.Jerry Zucker, PGI chairman, president and CEO, said, This decision will result in a
repositioning of assets throughout our system, reducing much of the trial, qualification and
commercialization costs of our Apex® programs and a material reduction in our manufacturing costs.
This restructuring will result in annual savings in the range of $55 to $60 million once fully
implemented.In other company news, PGI recently entered into a supply agreement with Wilmington,
Del.-based DuPont. Under the agreement, PGI will use DuPonts Nomex® fiber in the manufacture of its
Miratec®/Apex® fabric for the DuPont Advanced Fiber Systems business. DuPont introduced various new
thermal-protective apparel fabrics made from Nomex earlier this fall.The combination of the Nomex
fiber and the Miratec/Apex technology yields a fabric that capitalizes on the thermal-protective
properties of Nomex fiber and the unique characteristics of PGIs Miratec/Apex technologies, said
Grant Reeves, COO, Oriented Polymers Division, PGI.Miratec fabrics are manufactured using PGIs
proprietary Apex laser and fabric-forming technologies.
December 2001
