UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 5, 2010
NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION
(Exact name of registrant as specified in its charter)
Delaware |
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001-11038 |
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41-0857886 |
(State or Other Jurisdiction of |
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(Commission File Number) |
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(I.R.S. Employer Identification |
4201 Woodland Road P.O. Box 69 Circle Pines, Minnesota |
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55014 |
(Address of Principal Executive Offices) |
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(Zip Code) |
(763) 225-6600
(Registrants telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01. Regulation FD Disclosure
Beginning on October 6, 2010, representatives of Northern Technologies International Corporation (NTIC) intend to make presentations at investor conferences and in other forums and distribute an informational presentation to interested persons, which presentations may include the information contained in Exhibit 99.1 attached to this current report on Form 8-K. NTIC is furnishing the information contained in Exhibit 99.1 pursuant to Regulation FD. This information is furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed to be filed for the purposes of Section 18 of the Securities Exchange Act of 1934 (the Exchange Act), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended (the Securities Act), or the Exchange Act, except as expressly set forth by specific reference in such filing. NTIC expects to disclose this information, in whole or in part, and possibly with updates and modifications, in connection with presentations to investors, analysts and others. The power point pdf version of the below Exhibit 99.1 is available in the investor relations section of NTICs corporate website (www.ntic.com) .
The information contained in Exhibit 99.1 is summary information that is intended to be considered in the context of NTICs Securities and Exchange Commission (SEC) filings and other public announcements that NTIC may make, by press release or otherwise, from time to time. NTIC undertakes no duty or obligation to publicly update or revise the information contained in this report, although it may do so from time to time as its management believes is warranted. Any such updating may be made through the filing of other reports or documents with the SEC, through press releases or through other public disclosure. By filing this report and furnishing this information, NTIC makes no admission as to the materiality of any information in this report that is required to be disclosed solely by reason of Regulation FD.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit |
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Description |
99.1 |
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Information Which May Be Disclosed by Northern Technologies International Corporation in Presentations (furnished herewith) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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NORTHERN TECHNOLOGIES |
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INTERNATIONAL CORPORATION |
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By: |
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Matthew C. Wolsfeld |
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Chief Financial Officer and Corporate Secretary |
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Dated: |
October 5, 2010 |
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NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION
CURRENT REPORT ON FORM 8-K
EXHIBIT INDEX
Exhibit No. |
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Description |
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Method of Filing |
99.1 |
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Information Which May Be Disclosed by Northern Technologies International Corporation in Presentations |
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Furnished herewith |
Exhibit 99.1
INVESTOR PRESENTATION
October 2010
Matthew Wolsfeld, CFO
Legal Disclaimer
Forward Looking Statements
Statements contained in this presentation that are not historical information are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about NTICs future financial performance and its efforts to increase net sales by expanding the application of its corrosion inhibiting technology into the oil and gas industry and bioplastics product line including biodegradable and compostable plastics and process technology that converts plastic waste back into diesel, gasoline and mid-distillates; the future estimated market sizes, demand for and sales of NTICs products, the success of NTICs emerging businesses and such other statements which can be identified by words such as expect, anticipate, estimate, will, would, could, words of similar meaning, future dates and any other statements that are not historical facts. Such forward-looking statements are based upon the current beliefs and expectations of NTICs management and are inherently subject to risks and uncertainties that could cause actual results to differ materially from those projected or implied. Such potential risks and uncertainties include, but are not limited to, in no particular order: worldwide economic conditions, and their effect in particular on the automotive industry; NTICs dependence on the success of its joint ventures and technical fees and dividend distributions that NTIC receives from them; NTICs relationships with its joint ventures and its ability to maintain those relationships; risks associated with NTICs international operations; exposure to fluctuations in foreign currency exchange rates; the level of growth in NTICs markets; NTICs investments in research and development efforts; acceptance of NTIC s existing and new products; increased competition; the success of NTICs emerging new businesses; the costs and effects of complying with changes in tax, fiscal, government and other regulatory and accounting policies; and NTICs reliance on its intellectual property rights and the absence of infringement of the intellectual property rights of others. More detailed information on these and additional factors which could affect NTICs results is described in NTICs filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q. NTIC urges all interested parties to read these reports to gain a better understanding of the many business and other risks that the company faces. Additionally, NTIC undertakes no obligation to publicly release the results of any revisions to these forward-looking statements, which may be made to reflect events or circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events.
Non-GAAP Financial Measures
In addition to financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), NTIC uses certain non-GAAP financial measures in this presentation. NTIC uses non-GAAP financial measures as supplemental measures of performance and believes these measures facilitate operating performance comparisons from period to period and company to company by factoring out potential differences caused by non-recurring, unusual or infrequent charges not related to NTICs regular, ongoing business, variations in capital structure, tax positions, depreciation, non-cash charges and certain large and unpredictable charges. NTIC believes that the presentation of certain non-GAAP financial measures provides useful information to investors in evaluating its operations, period over period. Non-GAAP measures have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analysis of NTICs results as reported under GAAP. When analyzing NTICs operating performance, investors should not consider NTICs net income, as adjusted, for example, as a substitute for NTICs net income prepared in accordance with GAAP or any other non-GAAP financial measure as a substitute for the comparable GAAP financial measure. Investors should note that any non-GAAP financial measures used by NTIC may not be the same non-GAAP financial measures, and may not be calculated in the same manner, as that of other companies. Whenever NTIC uses non-GAAP financial measures, it provides a reconciliation of the non-GAAP financial measure to the most closely applicable GAAP financial measure. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measure.
Industry Information
Information regarding market and industry statistics contained in this presentation is based on information available to NTIC that NTIC believes is accurate. It is generally based on publications that are not produced for these purposes or economic analysis.
Introduction to NTIC
▪ Global leader in environmentally-beneficial technologies
▪ Corrosion management products and technical services for industrial supply chains and oil and gas storage and transport
▪ Advanced bioplastics
▪ Commercially efficient plastic waste-to-fuel conversion systems
▪ Fiscal 2010 YTD* net sales and earnings rebounded compared to prior fiscal year period:
▪ 32% net sales increase
▪ $0.41 EPS vs. ($0.57) per share loss for 9 months
▪ Significant opportunities to accelerate future growth across business lines
▪ Proven track record of growth and profitability
▪ Pre-Fiscal 2009 - 40% 5 year CAGR* in EPS
▪ Return to Profitability in Fiscal 2010
▪ Global sales network covers more than 55 countries
Environmental Innovation
Leveraging core scientific expertise and established global distribution across three compelling growth opportunities
Zerust - Rust Inhibiting Plastic Packaging Vapor Corrosion
Inhibiting (VCI) technology replaces heavy greases, oils and hazardous solvents
Natur-Tec® - Advanced Bioplastics
Biodegradable and/or biobased plastics for flexible packaging, injection molding and engineered articles
Zerust Oil & Gas - Enhanced Corrosion Protection
Extension of Zerust® brand & know-how to oil, gas and chemical storage applications
Polymer Energy - Plastic Waste to Fuel Conversion
Plastic waste is converted to a mixture of gasoline, diesel and heavy fractions
Global Recession Impact
Bad News Fiscal 2009 was a tough year
Net sales from N. Amer. operations decreased 32% and worldwide joint venture sales decreased 39% during Fiscal 2009 compared to Fiscal 2008 and incurred net loss of $(3,344,976), or $(0.89) per share, during year ended August 31, 2009
Incurred $554,000 impairment loss in 2Q FY09 due to former React business
Good News Sales and EPS Rebounded in Fiscal 2010 YTD*
Back to profitability during nine months ended May 31, 2010 - $0.41 EPS.
Consolidated net sales increased significantly in Fiscal 2010 YTD* compared to prior fiscal year period
Cut operating expenses by implementing cost savings measures in Fiscal 2009, many of which were still in place during Fiscal 2010
Current fixed costs allow for significant leverage
Strong working capital of $5,536,087 at May 31, 2010, including $1,103,620 in cash and cash equivalents, due in part to $3,552,000 registered direct offering completed in Fiscal 2010
*Full year fiscal 2010 financial results to be announced in November 2010.
Global Distribution
Introducing new products and technologies to markets worldwide
North American Sales
8 direct sales people
300+ indirect sales people through independent agents and distributors
International Sales Sales by joint ventures result in dividend distributions and technical service fee income for NTIC based in part on level of net sales by joint ventures
NTIC provides
Innovative technologies
Technical support
JV partners provide
Sales and customer support personnel
Access to local markets
Knowledge of local regulations
Knowledge of local business practices
Estimated Market Opportunity
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Estimated |
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Estimated |
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Percentage of NTIC |
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Zerust |
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$520 Million |
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5-10% |
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94% |
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Zerust Oil & Gas |
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$25 Billion |
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10% |
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1% |
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Natur-Tec |
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$1 Billion |
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>20% |
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5% |
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Polymer Energy |
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$40 Million |
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3-5% |
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0% |
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Emerging global demand for environmentally responsible technologies
The market potential for Zerust® oil and gas industry and Natur-Tec® business opportunities is larger than that for our core Zerust® business
Zerust® Overview - Corrosion Inhibiting Packaging and Technical Services
Packaging incorporates proprietary chemical additives that releases vapor corrosion inhibitors (VCI) which condense on metal surfaces to create a molecular protective layer that prevents rust.
Dominant player in the automotive industry - used by major worldwide and U.S. automotive manufacturers
Global reach operating in most industrialized countries through joint ventures in most international markets
Customer benefits
Significant monetary savings from reduced rework and customer rejects
Elevates quality of manufacturing process
Environmentally responsible alternative compared to traditional oil and grease coatings
Economics and Competition
Business Model Summary
Revenue Model: |
Product sales and contract services |
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Distribution: |
Direct sales, independent distributors and joint ventures |
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Growth: |
Further penetrate non-automotive verticals with core Zerust® products and services |
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Military |
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Electrical/electronics |
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Transportation |
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Consumer |
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Value Proposition: |
Zero-rust on metal product in shipment and storage.
Monetary savings up to 20% from reduced rework and product scrap
Cost effective corrosion protection services |
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Competitors: |
VCI Competitors - $217 million |
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Non-VCI Alternatives $208 Million |
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Zerust - $95 million |
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Differentiation: |
Worlds largest VCI provider |
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Only VCI company with: |
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On-site, global technical support for corrosion management |
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Significant cost and environmental benefits relative to non-VCI alternatives |
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Zerust® Oil & Gas Opportunity
Enhanced Corrosion Protection
Patented solutions that extend the Zerust® brand & know-how to protect petroleum and process chemical industry storage tanks, pipelines and other critical infrastructure from corrosion
Petrobras
Deploying Zerust® Roof protection solutions @ ~$50k to $150k/tank per year. REDUC refinery alone has potential to deploy on ~30-50 tanks. Petrobras has 14 other refineries that could roll out solutions.
NTIC JV received blanket PO for $1.1M for initial order of Zerust® Flange Savers for 10 offshore platforms. Petrobras has 109 platforms with an annual target spend of ~$200K/platform for Zerust® Flange Savers.
Other Oil & Gas Companies
NTIC is building on the Petrobras success and is in various stages of trials and contract discussions with clients like PEMEX (Mexico), Repsol (Spain), Cairn Energy (India), Total (France) and CITGO (USA).
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Global Markets
Steady approach to building Zerust® Oil & Gas business
CURRENT
Signed contracts
Dispensers installed on 3 tanks at Petrobras REDUC refinery
Blanket purchase order from Petrobras for initial Flange Savers order for 10 offshore platforms
Large deals signed with two major US based Oil & Gas industry equipment suppliers for traditional NTIC products
Trials and R&D
PEMEX (Mexico) trials completed for Flange Savers and trials underway for tank roof systems
Product trials underway at Repsol (Spain) and Shell (Malaysia)
Funded tank bottom corrosion prevention R&D project for Petrobras underway
Pipeline corrosion R&D project for Total (France) underway
STEP 1
Activities Underway For:
Initiating trials and contracts with key client targets through agencies/ partners in the United States, Venezuela, Russia, India, Malaysia and the Middle East
Conversion of Flange Saver trials at PEMEX into commercial order for 10+ offshore platforms
PEMEX owns and operates 225 offshore platforms in the Gulf of Mexico
Global expansion of program with Oil & Gas suppliers/manufacturers during transportation and storage build on existing contracts in the US
Expanding R&D programs with Petrobras
Building the R&D and sales/ engineering teams to support the increased market activities
STEP 2
Strategic Plans Laid Out To:
Grow sales and references in the United States in partnership with Gonzalez Energy Services (GES)
Aggressively grow in Mexico, Russia, Venezuela and the Middle East through industry specific agency contracts and JV partnerships.
Use client win references to help existing JV partners actively pursue Oil & Gas clients in their local markets
Expand R&D and Product Development teams to bring new solutions to the market
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Economics and Competition
Business Model Summary
Revenue Model: |
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Product and service sales with value pricing based on hard savings realized by the client |
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Distribution: |
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Direct sales and through JV network Agency agreements |
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Target Markets: |
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Oil refineries, offshore production platforms, oil production wells, oil pipelines, process chemical plants, retail gas stations |
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Value Proposition: |
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Minimize maintenance downtime
Extend infrastructure service life by 5 to 6 times
Reduce risk of environmental pollution due to corrosion leaks. |
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Competitors: |
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No direct competitors Conservative industry requires long lead times to penetrate Alternative technologies, though proven ineffective, are still used |
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Differentiation: |
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Unique, patent protected solutions that have been proven to be highly effective Focus on specific niche areas not targeted by traditional corrosion mitigation companies Consultative approach with R&D options |
Growth Strategy
Work with Oil & Gas specific agents and partners in key geographies around the world. Emphasis on:
USA Direct sales + agency support from GES
Mexico Direct sales + agency support from GFCS
Venezuela Agency support from Iromad VZ
Russia - JV partner focused on Oil & Gas
Middle East Branch office + agency support
France JV partner with inroads into Total
Build on NTICs R&D capabilities to boost credibility:
Additional R&D being conducted with clients around the world to bring new products and solutions to the market
Unique laboratory facilities and field application expertise
Advanced Bioplastics
Natur-Tec® products:
Allow customers to reduce their carbon footprint
Provide superior performance at competitive prices
Meet industry standards for biodegradability
Made from renewable resources
Uniquely broad product portfolio
Flexible film compostable bags, agricultural film, etc.
Injection Molded disposable cutlery, engineering plastics, etc.
Foam cushioning material, insulation packaging, etc.
Extrusion Coating paper solutions, consumer packaging, etc.
Engineered Composite Materials
Representative customer opportunities
Major state university - Working to supply compostable bags for all campus dining and dorm facilities
Major discount retailer - Working with retailer to define sustainable packaging mandates for suppliers
Multi-national consumer goods company Reducing carbon footprint of consumer products through the use of biobased plastics
Major office products supplier Integrating biobased and biodegradable materials into high volume product applications
Economics and Competition
Business Model Summary
Revenue Model: |
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Finished products and resin sales |
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Distribution: |
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Direct sales to end-users and distributors |
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Target Markets: |
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Consumer and industrial packaging, consumer goods, foodservice |
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Value Proposition: |
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Broad
product portfolio provides one-stop bioplastic packaging solutions |
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Competitors: |
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Novamont |
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- High brand awareness, well funded |
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- High cost with performance limitations |
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Heritage Plastics |
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- Trash bag manufacturer w/ strong US distribution |
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- US only/film products only |
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Cereplast |
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- Strong injection molded products |
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- Limited to PLA blends |
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FKUR |
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- PLA and polyester blends |
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- High cost/Europe only |
Differentiation:
Customization deep knowledge of bioplastic polymer chemistry combined with proprietary processing know-how enables development of unique customized solutions for global customers
Lower cost than competing bioplastics
Competitive performance to traditional plastics
Dr. Ramani Narayan NTIC technologist from Michigan State University, is the leading bioplastics expert in the world
Bioplastics Market Opportunity
$1.0 billion market for bioplastic resins projected to grow to over $2.6 billion by 2013*
Key drivers of market growth
Major corporations mandating sustainability standards from vendors as a way to reduce the carbon footprint of their products
Favorable regulatory environment
Volatile petroleum prices reducing the cost disparity vs. traditional plastics
Improved technical properties and product functionality
Increased environmental awareness at the consumer level
Polymer Energy Overview
Plastic Waste to Fuel
Catalytic pyrolysis process converts plastic waste (primarily polyolefins) into crude oil resulting in an economically viable and environmentally responsible alternative to current methods of recycling and disposal of plastic waste.
Polymer Energy, LLC, a joint venture with Zbigniew Tokarz and Zalewski family, in which NTIC has a 62.5% interest, has exclusive rights to sell the technology in North America and Asia
Commercially proven
10 units operating in Europe deployed by T-Technology
3 units operating in Asia deployed by Polymer Energy, LLC.
Each module can process 2,100 tons of plastic waste annually into approximately 11,500 barrels of oil
Economics and Competition
Business Model Summary
Revenue Model: |
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Upfront
machine sales and installation |
Distribution: |
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Direct sales through Polymer Energy, LLC in North America and Asia |
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Target Markets: |
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Developing country manufacturers and waste management entities |
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Value Proposition: |
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Efficient conversion process makes plastic waste to fuel conversion profitable with an estimated pay-back within 3 years |
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Competitors: |
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Envion |
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- Pilot plant in the US |
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- no commercial installations |
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- ½ the oil production on a per ton basis |
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Unique Plastic Waste Mgmt/ |
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Asian Electronics Ltd. |
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- Pilot plant in Nagpur, India |
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- No commercially viable installation |
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Plas2Fuel |
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- Currently in R&D mode |
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- No commercially viable installation |
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Differentiation: |
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Only internationally recognized and commercially proven technology with an operational experience base of more than 2 years |
Growth Strategy
§ Impressive market response with customer inquiries from all around the world
§ First units operating in India and Thailand
§ Contract negotiations underway with additional customers in North America and Asia
§ NTICs extensive JV network provides immediate market reach and strong local connections
§ Especially in fast growing emerging economies that are concerned about plastic waste
§ NTICs manufacturing base in Chennai, India provides seamless service to global customers by:
§ Leveraging the award-winning high-quality manufacturing expertise of our Indian JV partner
§ Tapping into low cost but highly-skilled engineering resources for ongoing R&D and technical support
Corporate & Financial Overview
Except for Fiscal 2009, there has been a Long Track-Record of Success as well as a Return to Profitability in YTD Fiscal 2010
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Earnings Per Share* |
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FY 2003 |
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$ |
0.13 |
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FY 2004 |
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$ |
0.29 |
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FY 2005 |
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$ |
0.33 |
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FY 2006 |
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$ |
0.48 |
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*FY 2007 |
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$ |
0.68 |
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FY 2008 |
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$ |
0.69 |
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FY 2009 |
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$ |
(0.89) |
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9m FY 2010 |
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$ |
0.41 |
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* FY 2007 EPS are on a non-GAAP basis and are adjusted downward to subtract the $724,000 gain on sale of building. FY 2009 earnings will not be available until November 2009, but are anticipated to be a net loss and significantly worse compared to prior periods.
Fiscal 2010 Return of Global Sales in Core Zerust Business
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Worldwide Sales** |
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FY 2003 |
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$ |
45,300 |
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FY 2004 |
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$ |
56,600 |
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FY 2005 |
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$ |
70,500 |
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FY 2006 |
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$ |
80,500 |
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FY 2007 |
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$ |
97,254 |
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FY 2008 |
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$ |
112,980 |
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FY 2009 |
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$ |
70,470 |
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9m - FY 2010 |
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$ |
72,103 |
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** Worldwide sales are the sales of NTIC consolidated with all sales through its joint venture network, of which NTIC owns between 25% and 50% of all joint ventures, and are based on foreign currency exchange rates at each respective year end.
Estimated Global sales for all of FY 2010 are just over ~$100 million based on based on extrapolation of Q1-3 FY 2010 Sales
NTIC Balance Sheet
Strong Balance Sheet with very little debt
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May 31, 2010 |
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August 31, 2009 |
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August 31, 2008 |
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ASSETS |
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CURRENT ASSETS |
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9,260,555 |
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6,468,889 |
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8,832,422 |
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PROPERTY AND EQUIPMENT, net |
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3,484,050 |
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3,542,169 |
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3,754,565 |
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INVESTMENTS IN JOINT VENTURES |
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14,960,391 |
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14,064,122 |
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16,016,347 |
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OTHER ASSETS |
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2,449,743 |
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2,407,740 |
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2,726,278 |
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TOTAL ASSETS |
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30,154,739 |
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26,482,920 |
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31,329,612 |
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LIABILITIES AND STOCKHOLDERS EQUITY |
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CURRENT LIABILITIES: |
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3,724,468 |
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3,741,117 |
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5,175,123 |
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OTHER LIABILITIES |
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0 |
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0 |
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3,398 |
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TOTAL LIABILITIES |
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3,724,468 |
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3,741,117 |
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5,178,521 |
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TOTAL STOCKHOLDERS EQUITY: |
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26,430,271 |
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22,741,803 |
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26,151,091 |
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Joint Venture Economics
29 international joint ventures
50/50 ownership with local JV partner
NTIC receives ~7% fee on JV sales and 50% of JV distributions
Equity method accounting on GAAP financial statements
Equity in income reported on GAAP income statement
Gross JV sales disclosed in notes to consolidated financials
Direct expenses to support JVs are relatively fixed, representing significant operating leverage on incremental JV sales
MANAGEMENT
Mr. G. Patrick Lynch:
Mr. G. Patrick Lynch, an employee of NTIC since 1995, has been President since July 2005 and Chief Executive Officer since January 2006 and was appointed a director of NTIC in February 2004. From July 2005 to January 2006, Mr. Lynch served as Chief Operating Officer of NTIC. Mr. Lynch served as President of North American Operations of NTIC from May 2004 to July 2005. Prior to May 2004, Mr. Lynch held various positions with NTIC, including Vice President of Strategic Planning, Corporate Secretary and Project Manager. Prior to joining NTIC, Mr. Lynch held positions in sales management for Fuji Electric Co., Ltd. in Tokyo, Japan and programming project management for BMW AG in Munich, Germany. Mr. Lynch received an M.B.A. degree from the University of Michigan Business School in Ann Arbor, Michigan.
Mr. Matthew Wolsfeld:
Mr. Matthew C. Wolsfeld, an employee of NTIC since February 2001, has been NTICs Chief Financial Officer since November 2001 and Corporate Secretary since November 2004. Mr. Wolsfeld was Controller of NTIC from May 2001 through November 2001. Prior to joining NTIC, Mr. Wolsfeld held an auditing position with PricewaterhouseCoopers LLP in Minneapolis, Minnesota from 1997 to 2001. Mr. Wolsfeld received a B.A. degree in Accounting from the University of Notre Dame and received his M.B.A. degree at the University of Minnesota, Carlson School of Business. Mr. Wolsfeld is a Certified Public Accountant.
PRIMARY TECHNOLOGISTS
Dr. Don Kubik, Ph.D.:
Dr. Donald A. Kubik, Ph.D. served as NTICs Chief Technology Officer from May 2000 to June 2009 at which time he retired and was employed by NTIC since 1978. Dr. Kubik has served as a director since 1980 and was appointed Vice Chairman of the Board in September 1999. Dr. Kubik served as Vice President of NTIC from 1979 to September 1999 and as Co-Chief Executive Officer of NTIC from September 1999 to May 2000. Dr. Kubik is responsible for developing the patent that led to NTICs introduction of protective plastic film and paper products incorporating volatile corrosion inhibitors. Prior to joining NTIC, Dr. Kubik held a research and development position with Minnesota Mining & Manufacturing (3M). Dr. Kubik continues to serve as an independent contractor to NTIC.
Dr. Ramani Narayan, Ph.D.
Dr. Ramani Narayan, Ph.D. has been a director of NTIC since November 2004. He is Professor of Chemical & Biochemical Engineering in the Department of Chemical Engineering & Materials Science at Michigan State University, E. Lansing, MI where he has 105 refereed publications in leading journals to his credit, 18 patents, edited three books and one expert dossier in the area of bio-based polymeric materials. His research encompasses design & engineering of sustainable, biobased products, biodegradable plastics and polymers, reactive extrusion polymerization and processing, studies in polymer biodegradation and composting. He is on the Board of Directors of ASTM International and the Biodegradable Products Institute (BPI), North America. He serves on the Technical Advisory board of Tate & Lyle. He has won the Governors University Award for commercialization excellence; Michigan State University Distinguished Faculty Award, 2006, 2005 Withrow Distinguished Scholar award, Fulbright Distinguished Lectureship Chair in Science & Technology Management & Commercialization (University of Lisbon; Portugal); First recipient of the William N. Findley Award, The James Hammer Memorial Lifetime Achievement Award, and Research and Commercialization Award sponsored by ICI Americas, Inc. & the National Corn Growers Association.
Dr. Sunggyu Lee, Ph.D.
Dr. Sunggyu Lee, Ph.D. was elected a director of NTIC in January 2004. Dr. Lee is Professor of Chemical and Biological Engineering, University of Missouri-Rolla, Rolla, Missouri. Previously, he held positions of Robert Iredell Professor and Head of Chemical Engineering Department at the University of Akron, Akron, Ohio for 1988-1996 and C.W. LaPierre Professor and Chairman of Chemical Engineering at University of Missouri-Columbia for 1997-2005. He has authored six books and over 400 archival publications and received 22 U.S. patents in a variety of chemical and polymer processes and products. He is currently serving as Editor of Encyclopedia of Chemical Processing, Taylor & Francis, New York, NY. Throughout his career, he has served as consultant and technical advisor to a number of national and international companies. He received his Ph.D. from Case Western Reserve University, Cleveland, Ohio in 1980.
Professor Efim Lyublinski
Prof. Efim Ya. Lyublinski has been employed by NTIC since March 2000 in the position of Vice President and Director of New Technologies and Applications Engineering. Prof. Lyublinski is a Member of the Russian Academy of Natural Sciences and NACE International the Corrosion Society. From 1984 to 1999, Prof. Lyublinski was Head of Laboratory of Complex Methods of Corrosion Protection at the Central Research Institute of Structural Materials (Prometey), St. Petersburg, Russia. Prof. Lyublinski also held a Senior Consulting Position with Osmos Technology, Boston, Massachusetts from 1995 to 1999. Prof. Lyublinski holds 18 patents, is responsible for 64 inventions and has authored 14 books, 148 articles and lectured at more than 100 symposiums, conferences and congresses in the areas of materials science and corrosion. Prof. Lyublinski received the following awards: in 1997, gold medal of the International Exhibition of Patents in Brussels (Belgium). From 1975 to 1986 three gold, three silver and one bronze medal from the Exhibitions of the Achievements of Russian National Economy.
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