| Business Summary | | Spinnaker
Industries
Inc.
is
a
manufacturer
and
marketer
of
adhesive-backed
materials,
primarily
for
the
pressure-sensitive
label
stock
market.
The
Company's
strategy
had
been
to
focus
on
the
growing
pressure-sensitive
markets
for
industrial
tape
and
label
stock
applications,
while
pursuing
acquisitions
within
the
adhesive-backed
materials
industry
that
complemented
its
existing
businesses.
The
Company
has
divested
two
industrial
tape
units
in
late
1998,
Central
Products
Company
and
Spinnaker
Electrical
Tape
Company,
respectively,
which
together
comprised
its
industrial
tape
segment,
in
1999,
to
Intertape
Polymer
Group
Inc. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Spinnaker
Industries
manufactures
adhesive
backed
paper
label
stock
for
the
packaging
industry,
supplies
stock
for
pressure
sensitive
U.S.
postage
stamps
and
manufactures
industrial
process
equipment.
For
the
six
months
ended
6/30/01,
revenues
fell
12%
to
$70.8
million.
Net
loss
before
extraordinary
items
totalled
$49.9
million,
up
from
$3.4
million.
Results
reflect
lower
sales
volumes
in
most
pressure-sensitive
products,
and
a
$38.1
million
in
restructuring
charge. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY1999 Pay | |
| Louis Guzzetti, 61 Chairman | -- | Anthony Castor, III Interim
Pres, CEO | -- | George Fuehrer CFO,
VP | -- | Ned Fleming, III, 39 COO,
Director | $498K | Craig Jennings, 41 VP-Fin.,
Treasurer | -- | Dollar amounts are as of 31-Dec-1999 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|