1 NEW MARKETS FOR POLYMERCAPTANS - 2008 AND BEYOND Rev. 9/26/08 Gabriel Performance Products.

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NEW MARKETS FOR NEW MARKETS FOR POLYMERCAPTANS - 2008 AND POLYMERCAPTANS - 2008 AND

BEYONDBEYOND

Rev. 9/26/08

Gabriel Performance ProductsGabriel Performance Products

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Strategic Growth PlanStrategic Growth Plan

• Markets for Growth:Markets for Growth:

– Road Markers / Traffic PaintRoad Markers / Traffic Paint– NSF Potable Water applicationsNSF Potable Water applications– Commercial Flooring – Low Odor [ 800LO]Commercial Flooring – Low Odor [ 800LO]– Metal Tanks / Drums/ Rail / Bridge CoatingsMetal Tanks / Drums/ Rail / Bridge Coatings– Insulated Glass / Window Assembly [Polysulfide]Insulated Glass / Window Assembly [Polysulfide]– Electronics – Circuit BoardsElectronics – Circuit Boards– Anchor Bolts / CementAnchor Bolts / Cement– Joint Sealant CompoundsJoint Sealant Compounds– Composites – AerospaceComposites – Aerospace– Composites – Industrial Composites – Industrial – Manhole CoversManhole Covers

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ANSI/NSF 61 certified productsANSI/NSF 61 certified products

ANSI/NSF Standard 61 is the government standard for ANSI/NSF Standard 61 is the government standard for

products in contact with potable water.products in contact with potable water.

Testing involves investigation of product formulas byTesting involves investigation of product formulas by

toxicologists and analyzing for toxic contaminants after toxicologists and analyzing for toxic contaminants after

immersion of the products in cold water ,domestic hot immersion of the products in cold water ,domestic hot water water

(140 deg F) or commercial hot water (180 deg F)(140 deg F) or commercial hot water (180 deg F)

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Mercaptan hardeners are ideal candidate epoxy curatives Mercaptan hardeners are ideal candidate epoxy curatives

for products in contact with potable water :for products in contact with potable water :

• They have very low toxicity profilesThey have very low toxicity profiles• They are not water solubleThey are not water soluble

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ANSI/NSF 61 certified productsANSI/NSF 61 certified productsLa-Co IndustriesLa-Co Industries Elk Grove IL Elk Grove IL Epoxy StikEpoxy Stik

DevconDevcon Danvers MADanvers MA Stainless Steel PuttyStainless Steel Putty

LoctiteLoctite Hartford CTHartford CT Metal Magic SteelMetal Magic Steel

NCHNCH Irvine TXIrvine TX Mega StickMega Stick

Quik SteelQuik Steel

Quik CureQuik Cure

Neptune ResearchNeptune Research West Palm Beach FL Syntho-SteelWest Palm Beach FL Syntho-Steel

Blue MagicBlue Magic Conroe TXConroe TX Quiksteel Copper RepairQuiksteel Copper Repair

Quiksteel Epoxy PasteQuiksteel Epoxy Paste

Quiksteel Plastic RepairQuiksteel Plastic Repair

Quiksteel Steel-Reinforced Epoxy Quiksteel Steel-Reinforced Epoxy PP

Quiksteel Underwater RepairQuiksteel Underwater Repair

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Polymeric Systems Elverson PAPolymeric Systems Elverson PA FaststeelFaststeel®®

E20M12E20M12

PSI PoxyPSI Poxy

QuikcopperQuikcopper®®

QuikplastikQuikplastik®®

RepairitquikRepairitquik®®

Protective Coating Co. Allentown PAProtective Coating Co. Allentown PA PC-Plumbing Epoxy PuttyPC-Plumbing Epoxy Putty

PC-MetalPC-Metal

RectorsealRectorseal Houston TXHouston TX RectorSeal EP200 Epoxy PuttyRectorSeal EP200 Epoxy Putty

RectorSeal EP400 Epoxy PuttyRectorSeal EP400 Epoxy Putty

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ConstructionConstruction

DescriptionDescription• Chemical anchors typically consist of a two-part Chemical anchors typically consist of a two-part

adhesive that is used to anchor threaded dowels, adhesive that is used to anchor threaded dowels, reinforced steel bars (rebar), or other mechanical inserts reinforced steel bars (rebar), or other mechanical inserts to concrete, stone, or masonry substrates. Chemical to concrete, stone, or masonry substrates. Chemical anchors are most often used in commercial and public anchors are most often used in commercial and public construction. Bonded anchors ensure no stress on the construction. Bonded anchors ensure no stress on the substrate unlike mechanical anchors as the chemical substrate unlike mechanical anchors as the chemical bonds with the material surrounding it.bonds with the material surrounding it.

• Bonded anchors will also give a secure fixing in poor Bonded anchors will also give a secure fixing in poor quality substrates. They are also ideal for close edge and quality substrates. They are also ideal for close edge and spacing applicationsspacing applications

Chemical AnchorsChemical Anchors

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Available US Market 04 (MMLb, $MMAvailable US Market 04 (MMLb, $MM) ) 10,16010,160

Estimate of available global marketEstimate of available global market $250MM$250MM

Profitability - Gross MarginProfitability - Gross Margin 50%+50%+

Growth RateGrowth Rate 3.5%3.5%


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Key DriversKey Drivers

• Increase in commercial and public concrete construction Increase in commercial and public concrete construction • Steady residential constructionSteady residential construction• More user awareness and acceptance of chemical anchorsMore user awareness and acceptance of chemical anchors• Product and packaging innovations will curb Product and packaging innovations will curb

commoditizationcommoditization


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Key RestraintsKey Restraints

• Raw material prices and availabilityRaw material prices and availability• Construction industry often hesitant to accept innovationConstruction industry often hesitant to accept innovation


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Current technologiesCurrent technologies

Market Share USMarket Share US

Epoxy resinsEpoxy resins 75%75%

Methacrylate Methacrylate 13%13%

Vinyl ester/unsaturated polyester Vinyl ester/unsaturated polyester 12%12%

• Vinyl ester/polyester is a mature technology and expectedVinyl ester/polyester is a mature technology and expected

to decline. to decline.

• Epoxies are approaching maturity. Epoxies are approaching maturity.

• Methacrylates are expected to make gains as they rise inMethacrylates are expected to make gains as they rise in

awareness. These gains are likely to be largely due to the awareness. These gains are likely to be largely due to the further formulating of methacrylates to increase bond strengths further formulating of methacrylates to increase bond strengths


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In the chemical anchoring market, there are two main types ofIn the chemical anchoring market, there are two main types ofproduct developments taking place:product developments taking place:

Technological developments- vinyl ester/polyesters can onlyTechnological developments- vinyl ester/polyesters can onlysupport light to medium loads. Epoxies have become thesupport light to medium loads. Epoxies have become thedominant technology, mainly because of their high strength.dominant technology, mainly because of their high strength.Methacrylates offer fast curing and high strength.Methacrylates offer fast curing and high strength.

Packaging developments - most vinyl ester/polyester chemicalPackaging developments - most vinyl ester/polyester chemicalanchors are pre-packaged glass capsule anchors. These areanchors are pre-packaged glass capsule anchors. These aredropped into place and broken with a hammer and chisel or with adropped into place and broken with a hammer and chisel or with aspecial tool called a spinner. Epoxies and methacrylates arespecial tool called a spinner. Epoxies and methacrylates arepackaged in twin side-by-side cartridges or concentric cartridges.packaged in twin side-by-side cartridges or concentric cartridges.Innovations include snap off tips for cartridges.Innovations include snap off tips for cartridges.


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Most products are typically sold in a twin cartridge or Most products are typically sold in a twin cartridge or twin-pouch system at typical prices of $25-$35 for a 360 twin-pouch system at typical prices of $25-$35 for a 360 ml cartridge ml cartridge


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Key customersKey customers

• 5-10% of products go directly to construction 5-10% of products go directly to construction companies.companies.

• Over 90% of products are sold through 2-step Over 90% of products are sold through 2-step distribution systems to builders supply merchants, mass distribution systems to builders supply merchants, mass retailers and DIY chains. retailers and DIY chains.


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Key performance testsKey performance tests

• Products must carry loads, resist vibration and have Products must carry loads, resist vibration and have good weathering resistance and resistance to commongood weathering resistance and resistance to common

construction chemicals.construction chemicals.• Products must meet ICC Specs. e.g. Acceptance Criteria Products must meet ICC Specs. e.g. Acceptance Criteria

for Post-installed Adhesive Anchors in Concrete for Post-installed Adhesive Anchors in Concrete Elements, Subject AC308-0606-R1 (BG/RK)Elements, Subject AC308-0606-R1 (BG/RK)

• European Technical Approval (ETA) is needed for aEuropean Technical Approval (ETA) is needed for a

construction product construction product


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Unmet needs/opportunities for differentiationUnmet needs/opportunities for differentiation

• Fast cures at low temperaturesFast cures at low temperatures• Higher strength methacrylate systemsHigher strength methacrylate systems• Less hazardous curing agentsLess hazardous curing agents• Improved moisture resistanceImproved moisture resistance• Better heat resistance (fires)Better heat resistance (fires)• More user-friendly packagingMore user-friendly packaging


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Key competitorsKey competitors

USUSMarket ShareMarket Share

Hilti Inc Hilti Inc 3333 Simpson Strong-Tie Co., Inc Simpson Strong-Tie Co., Inc 1717Powers Fasteners Powers Fasteners 1313ITW Red Head ITW Red Head 6 6BASFBASF 4 4

Engineering support service and close working relationships withEngineering support service and close working relationships withcustomers are considered major competitive factors.customers are considered major competitive factors.


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Other US suppliersOther US suppliers

Adhesives Technology, FLAdhesives Technology, FLAxson, SCAxson, SCCGM, PACGM, PAChemMasters, OHChemMasters, OHUSP,Livermore CAUSP,Livermore CAE-bond, FLE-bond, FLEpoxy Systems, VAEpoxy Systems, VAEuclid Chemical, OHEuclid Chemical, OHFive Star Products, CTFive Star Products, CTFox Industries, MDFox Industries, MDGill Industries, SCGill Industries, SC


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Other US suppliersOther US suppliersIPA Systems, PAIPA Systems, PAKaufman Products Inc, MDKaufman Products Inc, MDL&M Construction Chemicals, NEL&M Construction Chemicals, NEMetalcrete Industries, OHMetalcrete Industries, OHMKT Fastening, LLC, AKMKT Fastening, LLC, AKPrime Resins, GAPrime Resins, GASika Corporation, Sika Corporation, Superior Epoxies and Coatings, GASuperior Epoxies and Coatings, GASymons, ILSymons, ILUnitex, MOUnitex, MOWej-It, OKWej-It, OKWilliams Form Engineering, MIWilliams Form Engineering, MIW.R. Meadows, ILW.R. Meadows, IL


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TRAFFIC PAINTS AND REFLECTIVE MARKER ADHESIVESTRAFFIC PAINTS AND REFLECTIVE MARKER ADHESIVES

Polymercaptans offer:Polymercaptans offer:

1.1. Control curing speed to make fast, medium or slow cure Control curing speed to make fast, medium or slow cure productsproducts

2.2. Cure at low temperaturesCure at low temperatures

3.3. Safety –competitive systems often use hazardous mixtures Safety –competitive systems often use hazardous mixtures of diethylene triamine (DETA) and bisphenol Aof diethylene triamine (DETA) and bisphenol A

4.4. Availability – some manufacturers use AEP, which is Availability – some manufacturers use AEP, which is currently unavailablecurrently unavailable

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TRAFFIC PAINTS AND REFLECTIVE MARKER ADHESIVESTRAFFIC PAINTS AND REFLECTIVE MARKER ADHESIVES

Some suppliers:Some suppliers:

Epoplex Maple Shade, NJEpoplex Maple Shade, NJ

Innovative Performance Systems, Research Triangle Park, NCInnovative Performance Systems, Research Triangle Park, NC

(Ennis Paint/Reichhold)(Ennis Paint/Reichhold)

ROCK-TRED Corporation, Skokie, ILROCK-TRED Corporation, Skokie, IL

PolyCarb, Solon OHPolyCarb, Solon OH

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EPOXY JOINT SEALANTSEPOXY JOINT SEALANTS

Control joints, also known as contraction joints, are cut into new concrete toControl joints, also known as contraction joints, are cut into new concrete to

control cracking and to allow for expansion / contraction. control cracking and to allow for expansion / contraction.

These joints are typically saw cut from 1/16" to 1/4" wide. Heavy traffic over These joints are typically saw cut from 1/16" to 1/4" wide. Heavy traffic over

these joints will eventually cause the edges to chip off. Joints left unprotected, these joints will eventually cause the edges to chip off. Joints left unprotected,

and the introduction on non-compressible materials (screws, nails, nuts, bolts, and the introduction on non-compressible materials (screws, nails, nuts, bolts,

pallet wood chips, etc.) in the joint will allow joint edges to deteriorate causing pallet wood chips, etc.) in the joint will allow joint edges to deteriorate causing

major spalling. major spalling.

The best way to protect joint edges is to fill them with a semi-rigidThe best way to protect joint edges is to fill them with a semi-rigid

epoxy joint filler. These fillers can also be used to fill cracks in concrete,epoxy joint filler. These fillers can also be used to fill cracks in concrete,

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Polymercaptans offer:Polymercaptans offer:

1.1. Control curing speed to make fast, medium or slow cure Control curing speed to make fast, medium or slow cure productsproducts

2.2. Cure at low temperaturesCure at low temperatures

3.3. Flexibility –polymercaptans have inherent flexibilityFlexibility –polymercaptans have inherent flexibility

4.4. SafetySafety

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Some suppliers:Some suppliers:

Prime Resins, Conyers GAPrime Resins, Conyers GALone Star Epoxies, Rowlett TXLone Star Epoxies, Rowlett TXConspec, Kansas City KSConspec, Kansas City KSUnitex, Kansas City MOUnitex, Kansas City MOGaron Products , Wall NJGaron Products , Wall NJHilti.Tulsa OKHilti.Tulsa OKDayton Superior, Dayton OHDayton Superior, Dayton OHNeopoxy, Hayward CANeopoxy, Hayward CAVexcon, Philadelphia PAVexcon, Philadelphia PAWR Meadows, Hampshire ILWR Meadows, Hampshire ILArmor Garage, Sunny Isles Beach, FLArmor Garage, Sunny Isles Beach, FLBlome International, O’Fallon MOBlome International, O’Fallon MOReltek, Santa Rosa CAReltek, Santa Rosa CAWebac, Santa Anna CAWebac, Santa Anna CA

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POLYSULFIDE SEALANTSPOLYSULFIDE SEALANTS

O

OHS

SH

DMDO – 1,8-dimercapto-3,6-dioxaoctaneDMDO – 1,8-dimercapto-3,6-dioxaoctane

Epoxy accelerator- used in EuropeEpoxy accelerator- used in Europe

Intermediate for polythioether type sealantsIntermediate for polythioether type sealants

Manufactured in Japan, France and MexicoManufactured in Japan, France and Mexico

Two main users are AC Tech and PPG in Two main users are AC Tech and PPG in CaliforniaCalifornia

Gabriel can manufacture this compoundGabriel can manufacture this compound

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1 NEW MARKETS FOR POLYMERCAPTANS - 2008 AND BEYOND Rev. 9/26/08 Gabriel Performance Products.

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