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July 15, 2005 Press Release

GLOBE COMPOSITE SOLUTIONS HIRES MATT KOENIG TO HEAD MARINE PRODUCTS DIVISION

20-year veteran chosen to lead Marine Products diversification efforts.

Dallas, TX. Globe Composite Solutions, Ltd. announced today that Matthew W. Koenig has joined the company as Business Manager of its Marine Products Division. Mr. Koenig, who started at the company on July 11, will report to James M. Teaque, who is Globe’s General Manager for Military and Aerospace Markets.

Globe is an advanced composites parts manufacturer serving the Marine, Material Handling, Medical, Oil Field Equipment, Military and Aerospace industries. One of the primary products in the Marine Division is the Drivesaver®, a unique vibration dampening driveshaft component for military, commercial and recreational watercraft. Globe is also the recognized leader in the boating industry with its Run Dry® self-lubricating pump impellers.

“We are very fortunate to have someone with Matt’s knowledge and enthusiasm to lead our efforts in this very important business segment for Globe Composite Solutions," said Carl W. Forsythe, President and CEO. “His broad set of experiences at managing complex distribution and sales networks, combined with his passion for the marine business, were major considerations for us to aggressively pursue Matt”, he added.

Mr. Koenig has over 20 years experience in finance, retail and wholesale distribution. Matt has worked as Partner and Vice President of Violette Imports, State Street Bank and Trust, Fidelity Investments and Bank of Boston. Matt was most recently a Manufacturers’ Representative for Maritime Marketing. Matt holds a degree in Economics from John Carroll University and is a member of the U.S. Naval Institute and various conservation organizations. Matt resides in Duxbury, MA.

About Globe Composite Solutions, Ltd.
Globe Composite Solutions, Ltd. is a privately held designer and manufacturer of composite-based products utilizing advanced materials and processes. These products help customers increase product performance in industrial, commercial and military applications. The company also provides turnkey research, design and manufacturing services for prototype and full-scale production needs and holds numerous patents related to composite materials and material handling products.

In August 2004 the company acquired the assets of Globe Rubber Works, Inc. The company’s research & development, manufacturing and assembly operations are located in Rockland, MA its executive offices are located in Dallas, TX. The company serves a diverse customer base including General Dynamics, Northrop Grumman, Siemens, US Postal Service, GE Medical Systems, FKI Logistex, United Parcel Service and Bowe/Bell & Howell.

Contact:
Carl W. Forsythe
Phone: 781-871-3700 Ext. 203
Fax: 781-871-6631
Email: cforsythe@globecomposite.com
http://www.globecomposite.com


 
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