RTI International - News Release - 10.17.2000
RTI Helps Textron Automotive to Out-License Breakthrough Injection Molding Technology
Company Gains New Source Of Non-Automotive Revenue By Converting Its Intellectual Property Into Financial Assets
SAN ANTONIO, -- Textron Automotive Company, a business segment of Textron, Inc. (NYSE:TXT), today announced that it plans to offer licenses of its proprietary IntelliMold® closed-loop injection molding process to non-competing companies.
The licensing activity is Textron Automotive's first foray into actively commercializing proprietary intellectual property and technology, and is another milestone in the company's virtual integration strategy.
Textron Automotive's partners in commercialization of IntelliMold® include the independent Research Triangle Institute, located in Research Triangle Park, N.C., and the Deloitte and Touche Intellectual Asset Management Group.
In June 2000, RTI and D&T announced that they would team up to help companies such as Textron Automotive mine their intellectual property portfolios.
IntelliMold® (www.intellimold.net) is the first injection molding technology that measures and controls pressure and temperature inside the mold cavity. The resulting improvements in molding press performance have been documented to reduce scrap and rework rates, load rates, warping and cycle times while improving repeatability, mechanical strength and surface quality.
The IntelliMold® process, which has broad applications in industries such as medical products, telecommunications, computer, aerospace and even athletic gear, operates like an "auto pilot" to achieve consistent performance for injection molding machines.
IntelliMold® is based on a simple principle: you can't control what you can't measure. The technology uses pressure transducers inside the mold cavity and nozzle to measure and control the molding in real time through a closed-loop system. The transducers read pressure and temperature electronically every two milliseconds or less to guarantee that each mold fills completely and evenly.
Information on IntelliMold®, its benefits and applications can be found at: www.intellimold.net
"We've applied IntelliMold® on several of our presses with spectacular results," said Bill Maclean, President, Textron Automotive Trim, a $1.8 billion division of TAC and the largest injection molder in North America in annual rankings by Plastics News. "We've achieved scrap reductions, shortened cycle times and outstanding cost savings. Molders have struggled for years to control the injection molding process. Now, IntelliMold® allows us to mold with precision and conviction."
Maclean announced Textron Automotive's licensing plans while speaking at a conference for plastics industry executives.
"Licensees will find IntelliMold® of significant interest because it eliminates uncertainty, replacing black art in the molding process with scientific controls," said Laura Schoppe, Manager of Commercial Programs for Research Triangle Institute. "As a result, molders will achieve greater control, quality and output, which drive cost savings and enhanced profitability."
Licensing IntelliMold® marks the first time Textron Automotive has shared its intellectual property outside the auto industry, and it establishes a new revenue source from one of the company's most prized intellectual assets.
"We're applying virtual integration to tap our knowledge assets for the benefit of our operations, our suppliers and Textron shareholders," said Maclean. "Licensing IntelliMold® is among the first steps in unlocking our company's real value. While we don't pretend to be a new economy company, we don't have to pretend about becoming a next economy company."
With more than $2.9 billion in annual revenues and engineering and manufacturing resources in 15 countries, Textron Automotive Company is a leading global supplier of instrument panels, cockpit modules, exterior and interior trim, plastic fuel tanks and under-hood automotive systems and components. Globally recognized for quality and breakthrough proprietary technologies like IntelliMold®, Textron Automotive Company has received more than 50 awards for excellence from its customers in North America, Europe and Asia.
Textron Inc. (NYSE:TXT), www.textron.com, is an $11.6 billion global, multi-industry company with market-leading businesses in aircraft, automotive, industrial and finance. Textron has a workforce of more than 68,000 employees and major manufacturing facilities in 30 counties. Textron is among Fortune Magazine's "Global Most Admired Companies."
Textron Automotive Company Contact: Timothy Weir, tweir@tac.textron.com, 248/616-5612