TORONTO - TekModo, established in September 2016, has recently introduced an industry-first, design-engineered, lightweight polymer panel system. Trading on the Toronto stock exchange (TSX:TEX), TekModo manufactures its panel in Elkhart, Indiana, for the regional recreational vehicle industry.
The panels are aimed as a direct replacement for plywood, adhesively laminated structures, or honeycomb composite panel. Applications include roof, wall, slide-out floor, and main floor systems. Target markets include Commercial Vehicles, Marine, and RV applications. A wide array of surface options, panel thicknesses, and core densities are developed client-specific applications.
TekModo has also developed prototype concrete form panels that are intended to replace plywood in the concrete forming industry. TekModo says its panels are significantly lighter than plywood, allowing for easier installation, reduced manpower, and reduced incidence of strain from workers lifting heavy plywood. The panels can be used multiple times, resulting in reduced costs for the construction project.
Large Laminator Problems
At year-end, TekModo says it experienced an unexpected manufacturing equipment failure of its large laminator which resulted in substantially reduced sales and cash flow for the months of January and February 2017. The equipment was repaired and resumed operations in March 2017, with full production coming on in April 2017. Sales and cash flow were impacted in March and April as the business ramped up production.
The large laminator is important to the TekModo business as it produces the unique-to-market Fortis composite substrate (secondary layer). Fortis is a design-engineered composite substrate designed to replace luan (plywood) panels for a smooth, seamless sidewall that improves optics and reduces weight. Fortis panels are available in any length and in widths greater than eight feet. Fortis composites are currently incorporated into several lines of RVs and commercial buses throughout North America and China.
The Fortis product line is offered in coils, large panels, or cut to size sheets. Additionally, Fortis serves as a substrate for RV OEM manufacturers to adhere to their exterior skins. The Fortis product line remains alone in the industry as the only continuous, seamless composite substrate system.
TekModo has upgraded and optimized the large laminator during the recent downtime, resulting in improved product quality, tighter tolerances and increased throughput speed. TekModo’s clients have commented on the increased quality of the materials that are being produced.
TekModo Industries Inc. was formed in September 2016 through the business combination of CarbonOne Technologies Inc. with the TekModo group of companies (TekModo LLC and TekModo Structures LLC). The combination of TekModo and CarbonOne created a fully integrated advanced materials company that is dedicated to producing high-quality, innovative materials and using leading-edge manufacturing processes.
While TekModo’s products were focused in the RV and commercial transportation industries, CarbonOne was advancing a number of products with applications in the construction, transportation, industrial filtration and defense industries. By combining CarbonOne’s intellectual property and research and development expertise with TekModo’s manufacturing experience and fully operational manufacturing facility, TekModo Industries was well positioned to expand its commercial product base to exploit opportunities across a diverse range of industries.
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