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June 19, 2000

Spokane firm to make plastic wood in China

SPOKANE -- MPM Technologies of Spokane has entered into an agreement with ONYX P.M. to form joint venture companies in China that will make and sell synthetic wood made from organic waste and plastic.

The first company will be located in Beijing. Annual sales of each company/plant are estimated to be $2.5 million with a 45 percent profit margin. MPM will have a 70 percent ownership stake in the venture, giving it an estimated profit of $675,000. That amount is expected to grow geometrically as more local companies are established. Management said it expects six plants to be operating within three years, and revenues to increase from $3.75 million during the first year to $17.5 million in three years.

A large variety of products can be manufactured from the synthetic wood such as bridges, highway barriers, kids' playground equipment, sun decks, fences, harbor piers and boardwalks.

MPM is a holding company with two operating subsidiaries -- Huntington Environmental Systems and AirPol -- which design, build, install and service industrial air pollution control systems. A third subsidiary called Nupower makes and markets Skygas, a patented waste-to-fuel technology.




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