AirBoss sales decline

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AirBoss sales decline
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2 q4 s( R* d3 T9 `Friday, March 23, 2012

Newmarket, Ontario, Canada - AirBoss of America reported fourth quarter sales decreased by $3 million compared to 2010 due to a decrease of $6.6 million in AEP sales offset by an increase in rubber compounding sales of $3.6 million. As foreshadowed in the company's third quarter 2011 report, the AEP sales were primarily impacted by reduced defense product sales. Rubber compounding volumes increased by 11 percent during the year. Markets continue to be robust and opportunities are expected to continue to increase in many sectors including OTR retreading, major tire and mining related products. The company is in the process of completing the previously announced major equipment upgrades which are expected to pay significant dividends in improving efficiency and reducing downtime in North Carolina. The addition of inline straining and strip capability in Quebec has also contributed to increased productivity in both military and other products. Tire retread products such as cushion gum are expected to increase sales. The new product development office in North Carolina begins its first full year of operation and expectations are high that the initiatives generated will be substantial.