FAIRLAWN, Ohio, Jan. 27 /PRNewswire-FirstCall/ -- OMNOVA Solutions' PolyFox(TM) technology is currently being used in a number of fluorosurfactant applications as an environmentally-preferred replacement for materials the United States Environmental Protection Agency (EPA) has asked to be phased out. This week, the EPA announced that it is requesting telomer producers to phase out products that contain, are manufactured with, or degrade to PFOA (perfluorooctanoic acid). The EPA has cited PFOA as a possible health and environmental concern because of its potential to bioaccumulate.
PolyFox technology provides excellent flow, leveling, wetting and surface modification properties in various uses, such as floor care, printing inks, industrial and electronic coatings, household cleaners and construction materials.
"To date, our PolyFox platform development efforts have been focused on fluorosurfactant applications," said Frank Nataro, Business Director, Specialty Chemicals for OMNOVA Solutions. "PolyFox technology reacts differently in each application. Close technical collaboration with our customers is essential to evaluating if and how PolyFox technology will work in a particular product category. We believe the potential global market for fluorosurfactant applications is approximately $100 million to $200 million."
The U.S. EPA's action regarding PFOA also impacts a broad spectrum of telomer-based products not involving fluorosurfactants, including repellency applications, such as treatments for carpet and apparel.
"Our goal is that, with continued development, we will be able to extend the benefits of PolyFox materials beyond the fluorosurfactant arena into exciting new applications like repellency," Nataro said.
High-performance PolyFox materials contain short perfluoro carbon side chains which avoid the environmental and health concerns of conventional long- chain (C-8 and higher) fluorine chemistries such as PFOA -- without sacrificing key performance features. The polymeric nature of PolyFox structures provides the ability to efficiently concentrate fluorine at the surfaces of a variety of compositions rather than burying it in bulk coatings. The chemistry is highly tailorable.
Regulatory approvals have been obtained for PolyFox fluorosurfactants from the U.S. EPA, the U.K. Health and Safety Executive and Environmental Agency, and METI in Japan.
This news release contains statements concerning trends and other forward- looking information affecting or relating to the Company and its industries. These statements are intended to qualify for the protections afforded forward- looking statements under the Private Securities Litigation Reform Act of 1995. Forward-looking statements may generally be identified by the use of forward- looking terms such as "may," "should," "projects," "forecasts," "seeks," "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "likely," "will," "would," "could," "potential," or similar terms. Forward-looking statements address the Company's business, results of operations, financial condition, significant accounting policies and management judgments, among other things, and include statements based on current expectations, estimates, forecasts and projections. There are many risks and uncertainties that could cause actual results or outcomes to differ materially from those described in the forward-looking statements, some of which are beyond the Company's control, including inherent economic risks, changes in prevailing governmental policies and regulatory actions, and litigation risks inherent in the Company's business. Some important risks, uncertainties and factors that could cause the Company's actual results or outcomes to differ materially from those expressed in or implied by its forward-looking statements include, but are not limited to, the following: general economic trends affecting OMNOVA Solutions' end-use markets; prices and availability of raw materials including styrene, butadiene, polyvinyl chloride, acrylics and textiles; ability to increase pricing to offset raw material cost increases; adverse litigation judgment and absence of or inadequacy of insurance coverage for such judgment; prolonged work stoppage resulting from labor disputes with unionized workforce; acts of war or terrorism, natural disasters or other acts of God; ability to successfully develop and commercialize new products; customer and/or competitor consolidation; customer ability to compete against increased foreign competition; operational issues at the Company's facilities; availability of financing to fund operations at anticipated rates and terms; ability to successfully implement productivity enhancement and cost reduction initiatives; governmental and regulatory policies; rapid inflation in health care costs and assumptions used in determining health care cost estimates; risks associated with foreign operations including fluctuations in exchange rates of foreign currencies; the Company's strategic alliance and acquisition activities; assumptions used in determining pension plan expense and funding, such as return on assets and discount rates and changes in funding regulations; compliance with extensive environmental, health and safety laws and regulations; and substantial debt and leverage and the ability to service that debt. The Company disclaims any obligation, other than imposed by law, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
OMNOVA Solutions Inc. is a technology-based company with 2005 sales of $810 million and a current workforce of 1,800 employees worldwide. OMNOVA is an innovator of emulsion polymers, specialty chemicals, decorative and functional surfaces, and single-ply roofing systems for a variety of commercial, industrial and residential end uses. Visit OMNOVA Solutions on the internet at http://www.omnova.com/.
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FCMN Contact: sandi.noah@omnova.com
