FTI announces that it has been purchased

February 26, 2008

this was sent to me today....

"February 26, 2008: Film Technologies International, Inc., (FTI) announced today that Novomatrix Pte Ltd. of Singapore, through its affiliated company Solamatrix, Inc., has entered into an agreement to acquire the property, plant, equipment, intellectual property and various other manufacturing assets owned by FTI.

FTI, a pioneer in the solar control and safety window film industry since the early 70s, has been manufacturing products to serve the architectural

and automotive markets under the Sun-Gard®, Safe-Gard® and Glass-Gard® trademarks globally. Don Wheeler, Chairman of FTI remarked, "I am pleased

that the legacy of our well known brand names will continue through Solamatrix Inc. I have every confidence in their ability to re-employ the recently and extensively upgraded assets successfully and wish them the very best in their future endeavors."

"This is a major milestone for the Novomatrix group of companies. Its

capabilities has been augmented, its offerings broadened and its standing elevated overnight with this upstream integration into the manufacturing arena. The 72" state of the art coater/laminator is a prized hardware amongst other assets acquired that will allow Novomatrix to continue to punch above its weight" said Mr Andrew Kwan, Director of Novomatrix.

"The quick paced acquisition also demonstrates the dynamism and ability of

the group to seize and convert strategic opportunities into reality. We expect to fire up the engines operationally in short order as well" added

Colonel Wee Hian Woon, Director, Novomatrix.

While this transaction would mean trodding down an unbeaten path, Mr Kwan is unrattled. "We are pleased to have assembled an outstanding management team to more than meet this challenge. It is a blend of experience and energy, steady hands and stout hearts" said Mr Kwan.

Dave Fletcher, President and CEO of Solamatrix Inc, provided some insight into what's in store for business partners, associates and customers. "This company will be founded on the Novomatrix ethos of trust, quality and innovation. Solamatrix will be positioned to deliver differentiated, good quality US-made products serving the new SunGard, SafeGard and GlassGard network who are aligned with the group's vision. The company believes the group's unique roots as a distributor will enable it to better understand the needs of the market as well as foster closer ties with its distribution network of choice...so as to attain and sustain rewarding outcomes for all".

And lending further weight to the impressive set up, Mayank Parekh, Director

of Novomatrix and immediate past Managing Partner of McKinsey & Co's practice in Singapore noted, "Whenever Capital, Talent and a Spirit of

Enterprise collide, one can expect exciting outcomes."

About Novomatrix:

Novomatrix Pte Ltd (NVP) is a joint venture between Globamatrix Holdings and Southern Capital Group, headquartered in Singapore with regional offices in Houston, Dubai, Tokyo, Shanghai, Beijng and Shenzhen. It is a market leader in the spectrally selective window film business operating several global brand names including V-KOOL®, Huper Optik®, Nanolux® and IQue®. NVP has market presence in over 30 countries with distribution reach in excess of 1,000 outlets worldwide. In many of the markets it serve, V-Kool® and Huper Optik® are dominant with unparalleled brand awareness and loyalty. It has won numerous accolades including the Consumer Best Buy, Superbrand and Promising Franchisor of the Year awards.

About Globamatrix:

Globamatrix Holdings Pte Ltd (GMX) is a closely held entity, with key investments in the Window Film and Food & Beverage businesses. It is a brand developer, enabler and operator owning distinguished trade marks through the affiliated companies under its stable.

Apart from the window film business, the GMX group owns, operates and franchises 36 Pastamania® restaurants in Singapore, Malaysia, India Dubai, Kuwait and Indonesia. It employs in excess of 500 staff and has its headquarters in Singapore. The GMX group has won several accolades including the Enterprise50, Fastest Growing 50, Franchise Excellence and Franchisor of the Year awards over the years. Its two founding directors were named Entrepreneur of the Year in Singapore in 2004.

About Southern:

Southern Capital Group is a private equity fund which invests in leading businesses, partnering with successful management teams in differentiated high-growth companies. Founded in 2004, Southern Capital Group makes private equity investments on a pan-Asian basis, contributing both capital and management expertise with the objective of maximizing operational and shareholder value. Southern Capital Group's investors comprises of leading global financial institutions, including banks, insurance companies and government investment entities, corporate investors and high net worth individuals. Its principals and advisors include an ex-Prime Minister, former and current Chairmen and CEOs of some of Asia's largest companies, business and government leaders, senior management and strategy consultants."

February 26, 2008

Good for them! Hopefully people keep their jobs.

February 26, 2008

That is what I'm hoping for!

hoosierwindowtek · February 26, 2008

Wow! and I figured it was too late for something like that...

Maybe they'll improve quality and become an industry leader... :thumb

February 26, 2008

well I wouldn't go that far............ LOL

But I guess if you're going to make a wish: aim high!

February 26, 2008

that is cool...yeah...hopefully some of those folks will get their jobs back. :thumb

TintWizard · February 26, 2008

I wonder what's going to happen to the distributors that found other film brands to sell ..if they are going to stay with who they are now buying from ..or go back to selling Sungard again :thumb

February 27, 2008

I wonder what's going to happen to the distributors that found other film brands to sell ..if they are going to stay with who they are now buying from ..or go back to selling Sungard again