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PRESS RELEASES 2002 John Boodée to Head Materials Handling Division KFGI Delivers RFID Conveyors to Logan Airport 2003 Synthetic Low-Voltage Conveyor System Announced KFGI Introduces Synthetic Tilt-Tray Sorter Shaftkeeper Introduced for Worn Conveyors Patent Awarded for Non-Metallic RFID Conveyors KFGI Closes Initial $1.1 Million Funding Round 2004 FKI Logistex Wins McCarran RFID Project KFGI Announces $1.5 Million B-Round KFGI Acquires Globe Rubber Works Assets GCS Awarded contract for New Attack Submarines 2005 GCS Awarded Massachussetts Training Grant GCS Recieves Metroplex Leadership Award GCS Hires Matt Koenig to Head Marine Products GCS Awarded Federal Technology Training Grant 2006 Dr. Wang to Lead Polymer Technologies GCS Unveils Non-Metallic RFID Roller Conveyor |
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January 21, 2004 Press Release KFGI CLOSES INITIAL $1.1 MILLION FUNDING ROUND Issue is 40% Oversubscribed; Proceeds Will Be Used to Expand Development and Manufacturing Capacity DALLAS, TX-- Kalm-Forsythe Global Innovations, Ltd. (KFGI), a leading designer and distributor of high-performance composite products announced today that it has closed an initial funding round of $1.1 million. The company was able to raise these funds in less than two months, which represents a 40% oversubscription from its initial goal of $800,000. The Dallas-based manufacturer of non-metallic components indicated that it will use the proceeds of this Round “A” funding effort to expand its product development capabilities and increase manufacturing capacity. In June 2003, the company was issued a patent directed towards the use of non-metallic structural materials in conveyor systems, including fast-growing radio-frequency identification (RFID) applications. KFGI will need to expand production capacity to accommodate the rapidly growing demand for RFID-compatible components due to the rapid acceptance of RFID by Wal-Mart and the U.S. Department of Defense, Additionally, the company expects to produce a significant number of RCS-6689™ non-metallic baggage handling conveyors as airports embrace RFID technology to improve sorting and routing accuracy and increase baggage security screening efficiency. KFGI has supplied conveyor sections to six major airports in the US and Canada. “We are pleased with the confidence our investors have placed in KFGI”, said Carl W. Forsythe, CEO of KFGI. “We will use these funds to exploit our patented technologies and rapidly bring other products to market”, he added. Forsythe also indicated that the company is contemplating the purchase of one or more manufacturing entities to further accelerate KFGI’s manufacturing and development efforts KFGI develops high-performance composite components which help customers dramatically increase product performance in industrial, commercial and military applications. KFGI is a full-service company, providing turnkey research, design and production services. The company holds numerous patents related to composite materials and material handling products. Contact: Carl W. Forsythe Phone: 214-522-9062 Fax: 214-522-1470 Email: cforsythe@kfgi.com http://www.kfgi.com |
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