Maguire & Novatec opt to invest in advanced technologies than to exhibit at NPE 2009

North American auxiliary equipment supplier Maguire Products and its affiliate Novatec, Inc. have decided to invest their resources budgeted for NPE 2009 exhibition, in activities that will directly benefit their customers. According to the press statement, the companies arrived at this decision after detailed discussions with customers, SPI officials and other exhibitors. Owing to the downturn in economy worldwide, the two companies feel that investing in employees, new products and product improvements better serves customers' needs during this economy. Within the company, this move is not seen as the cost cutting measure but a way to optimize spending for job preservation and advancing new technologies. Steve Maguire, President of Maguire Products and major stockholder of NOVATEC and Conrad Bessemer, President & CEO of NOVATEC jointly commented, "In these extraordinarily trying times for manufacturers and processors, there are much better ways to educate our customers on new equipment that can save them labor, resin and/or energy. One example we'll be announcing soon will be a 24/7 virtual trade show that will allow processors to have guided tours of new technology, just like at a trade show, from the convenience of their own computer." As indicated by Maguire who holds multiple patents for dryers used in plastics industry, investing in advanced and cost efficient drying, blending and conveying technology in the current economic conditions is important for both the company as well as its customers. They continue, "During these times of recession and high energy costs, it is more important than ever that we show all processors how they can benefit from these patented technologies and invent new ones. The energy and material savings are so great that, in many cases, processors can show an immediate positive cash flow after installation of new, energy-saving, drying equipment or after purchasing our blenders and feeders." Last year itself, the company developed new technologies in drying including building larger Infrared Drying Units and the new IntelliPET drying product line among others and are expected to announce four patentable drying units in 2009.
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