GE Plastics Global Aesthetics Resins Program Reaches $175 Million in Revenues; Industry Leading Visualfx Resin Technology Used in Over 300 Product Applications Since 1999 PITTSFIELD, Mass.--(BUSINESS WIRE)--Sept. 3, 2002--GE Plastics, a division of General Electric Company (NYSE:GE) headquartered here, announced today that its global aesthetics resins programs featuring the engineering thermoplastics industry's broadest portfolio of finish and color options have reached over $175 million in sales since its inception in 1999.
The company said that the milestone--reached in the third quarter of 2002--was indicative of the tremendous reaction the global industrial design community has had to the three-year-old program. The company currently offers 18 different finishes and over 33,000 colors in the portfolio.
Certainly, we are very happy with these revenue results, said Greg Adams, General Manager of Global Marketing for GE Plastics. But we are most proud of the fact that by listening to our customers in the design community we have been able to provide them with the tools and technology they need to help them drive some incredible product designs--and more importantly grow the sales of their products. We think this is only the beginning, as our portfolio is going to continue to grow because it is tied directly to the trends in consumer desires for effects and color. The design community has reacted very well to our programs.
Manufacturers of consumer products have become acutely aware of the importance of aesthetics in differentiating their products, and anticipating consumer behaviors and being able to respond quickly to changing consumer trends are critical to manufacturers and the design community alike, said Richard Watson, President of Boston-based Essential Design. GE Plastics is unique in its ability to provide aesthetic solutions in plastic that are in sync with the reality of today's quick turnaround product development processes.
GE Plastics has invested over $15 million in the global aesthetics programs since 1999 and the company has over 30 patents in supporting technology. The program is anchored by two design technologies and services: Visualfx(TM) resins, currently with 18 distinct finishes for look and feel, and ColorXpress(R) color matching and management services with a pallet of over 33,000 colors. The program is directly tied to the hottest fashion and design trends via an exclusive color and effects guide developed for GE Plastics by world-renowned styling forecaster Bureau de Style Peclers of Paris. Peclers globally monitors customer requested styles and predicts what the future consumer trends will be in the areas of finish, effect and color.
Designers around the world can access the global aesthetics programs on line through www.geplastics.com. Many opt to visit one of GE Plastics' three Customer Innovation Centers located north of New York City in Selkirk, NY, Bergen-op-Zoom, Netherlands, and Shanghai, China. We find that many customers get a taste of what we have to offer on line; then when their particular design process gets to a more advanced stage, they visit one of our centers, said Adams. We have had over 500 customer visits to our centers since they opened--with 250 in just over eight months this year alone.
All of GE Plastics' Visualfx resins are formulated with the color and effect inherent in the pellet to create colorful and exceptionally rich looking parts out of the mold without the need for what can often be costly secondary paint and coating operations. Some of the Visualfx resin finishes include Diamond, which gives products a shimmering, jewel like effect; Ares(TM), offering an incredibly real metallic look; Illuminate(TM), which offers a flashy edge glow effect to both horizontal and vertical surfaces; Intrigue(R), an almost eerie translucent finish that drives color shift depending on the view angle; and Softfx(TM), the newest addition to the portfolio, which provides a soft, tactile feel to product parts.
Additionally, several Visualfx resins are also available in film for use in in-mold-decoration (IMD) applications to achieve even more unique multi-layer effects. Visualfx films also provide a cost effective alternative to paint. The company is currently working with customers on 700 unique product specifications using Visualfx resins.
Another key element in GE Plastics global aesthetics solutions strategy is ColorXpress(R) services the industry-leading color management and matching service. The current palette of over 33,000 colors available through ColorXpress services is growing all the time. Customers can create colors on line and receive a color chip and a 50 pound lot of the plastic material for prototyping purposes--all within 48 hours. GE Plastics' ColorXpress services works with GretagMacbeth, headquartered in Regensdorf, Switzerland, to offer state-of-the art color management services.
The program can enable OEMs, specifiers, and their supply chain(s) to drive color consistency throughout their manufacturing processes more efficiently and confidently all while streamlining their color approval process.
A wide variety of products in telecommunications, computing and business equipment, optical media (CDs and DVDs), and other consumer products have been specified using Visualfx resins or ColorXpress(R) services. An excellent example of how color and finish can energize sales is with NALGENE(R) Outdoor water bottles and containers made of GE Plastics' LEXAN(R) resin. The bottles and containers have long been a favorite of hikers, campers and outdoor enthusiasts due to their high quality, lightweight design, and excellent durability. It was not until NALGENE(R) Outdoor decided to add some pizzazz to their product line through the introduction of GE Plastics' VISUALfx(TM) finishes in a variety of colors that the handy water bottles developed a broader consumer appeal---and drove significant sales increases in the process.
NALGENE(R) Outdoor uses two of GE Plastics' Visualfx resin finishes, Illuminate(TM) and Diffusion, in LEXAN polycarbonate resin for the water bottle line. The finishes help give the brightly colored bottles a vibrant look that appeals not just to outdoor enthusiasts who say the colors help them identify the contents of the bottles and containers while hiking or camping, but also to the 18-25 year old market who simply like the cool, trendy look.
Adding exciting finishes and color has completely changed the game for us, says Margaret Gregory, Manager of Sales and Marketing, Consumer Products for Nalge Nunc International, parent of NALGENE(R)Outdoor, headquartered in Rochester, NY. The fact that our bottles and containers are made exclusively of LEXAN resin has always been a strong selling point for us with consumers, but our sales are growing tremendously, and we point to the finish and color as the main reasons. Color has brought attention to the line like never before. In conjunction with the milestone announcement, GE Plastics also announced plans for new advertising campaign on global aesthetics targeted to the industrial design community. The campaign, entitled Push-it, was developed by M & C Saatchi of London and will debut in the first quarter of 2003. Our global aesthetics programs and technologies help the design community `push the envelope' of new, exciting, cutting-edge design, said Adams. We are going to spread the word.
GE Plastics is the world's leading producer of engineering
thermoplastics, with major production facilities worldwide. GE
Plastics materials, including LEXAN(R) polycarbonate, are used in a wide variety of applications such as CDs, automobile parts, computer housings, cookware, outdoor signage, cell phones, bullet resistant shielding and building materials. Through its LNP Engineering Plastics business, the company is a worldwide leader in the custom compounding of engineering thermoplastics. GE Plastics is also a global distributor of resins through GE Polymerland, and of sheet, film, rod and tube products through GE Polymershapes and GE Structured Products.
The company's web site is located at www.geplastics.com.
CYCOLOY, LEXAN, ColorXpress, Intrigue are registered trademarks of General Electric Company. Visualfx, Ares, Illuminate, are trademarks of General Electric Company. NALGENE is a registered trademark of Nalge Nunc International.
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