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UNIROYAL
TECHNOLOGY CORPORATION RECEIVES RAYMOND JAMES AWARD
Sarasota,
FL, October 27, 1999 - Uniroyal Technology Corporation
(Nasdaq/NMS: UTCI; the "Company") is the recipient
of the Raymond James Award which was presented at the
Tampa Bay Blue Chips awards ceremony last night (October
26, 1999). The Raymond James Award is presented to a
publicly traded company in the Tampa Bay area based
upon the largest two-year percentage increase in stock
price as of June 30, 1999. Uniroyal achieved a total
stock price return of 203% for that period. Uniroyal
won the award in the small cap category.
"We
are honored to be this year’s recipient of the Raymond
James Award," said Howard R. Curd, Chairman and
Chief Executive Officer. "This recognition reaffirms
our strategy of increasing shareholder value by focusing
on top-line growth of the Company through high-margin
business opportunities."
One example
of the Company’s focus on fast growing, high-margin
businesses is the entry into high brightness light emitting
diodes (LEDs), an industry forecasted to grow at a compound
rate of 35% annually. The Company will manufacture and
sell (LEDs) in blue, green and other colors from a 77,000
square foot state-of-the-art facility in Tampa, Florida.
Uniroyal’s
recent acquisitions of two Florida companies, ViPlex
Corporation and Happel Marine, both leading manufacturers
of custom plastics products sold to the marine industry,
are another example of Uniroyal’s growth strategy. The
product lines of both Happel and ViPlex incorporated
products of the Company’s acrylic and adhesives divisions.
"By purchasing ViPlex and Happel, we have moved
our product lines closer to our end customers,"
Mr. Curd said.
Uniroyal
Technology Corporation manufactures and sells proprietary
plastic products, specialty chemical and polymer products,
and optoelectronic products. The Company has four business
segments: High Performance Plastics, Coated Fabrics,
Specialty Adhesives and Optoelectronics. Some of the
Company's well-known brand names and products include
ROYALITE® in thermoplastics products, POLYCAST®
in acrylic products, NAUGAHYDE® in coated fabrics,
SILAPRENE® and GUNTHER ULTRA/BONDÔ in adhesives
and in Optoelectronics, epitaxial wafers, package ready
dies and lamps for LEDs.
Statements made herein that are
forward-looking in nature within the meaning of
the Private Securities Litigation Reform Act of
1995 are subject to risks and uncertainties that
could cause actual results to differ materially.
Such risks and uncertainties include, but are not
limited to, those related to business conditions
and the financial strength of the various markets
served by the Company, the level of spending for
such products and the ability of the Company to
successfully manufacture and market its products.
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