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FOR IMMEDIATE RELEASE

WILLIAM R. CARTEAUX NAMED PRESIDENT OF THE SOCIETY OF THE PLASTICS INDUSTRY, INC.

WASHINGTON (January 6, 2005) - The Executive Board of The Society of the Plastics Industry, Inc. (SPI) today named William R. Carteaux as president of the association. The appointment, which will take effect on March 1, 2005, follows the recent announcement by Donald K. Duncan that he would retire as SPI president in February 2005, after five years of service.

Carteaux comes to SPI from Demag Plastics Group Corp., where he was named president and chief executive officer in 2002. Based in the Cleveland area, Demag Plastics Group Corp. is one of the nation's top two manufacturers of injection molding machines for the plastics industry. Carteaux previously had served as the company's vice president of sales and marketing. Prior to joining Demag, Carteaux spent eight years with a manufacturer of vertical injection molding machines, including four years as its president.

In announcing the appointment, Selection Committee Chairman Paul Appelblom pointed to both Carteaux's professional experience and his service on the SPI Executive Board and Equipment Council governance group. "Bill's knowledge of the plastics industry and his understanding of SPI's operations," Appelblom said, "make him a superlative choice to lead the association in its next period of service and accomplishment."

Duncan agreed, saying: "It has been my great pleasure to work with Bill on some of our most visible and important pursuits." These include, Duncan explained, the association's trade shows, where Carteaux was a finance and planning leader, and the SPI Finance, Administration and Membership Committee, of which he was a member.

"In addition," Duncan said, "under Bill's leadership, Demag Plastics Group Corp., was the one of the first SPI members to formally pledge its support for our 'Fantastic Plastics Works' showcase" in INNOVENTIONS East at Epcot® in the Walt Disney World® Resort in Lake Buena Vista, FL.

"Bill also has knowledge of our nation's political processes and a great interest in making them work for our members," Duncan added. "Thus his qualifications span the scope of SPI services."

In accepting the appointment, Carteaux said, "Don has done an excellent job in putting SPI on a strong foundation for growth and further achievement. I am looking forward to working with all segments of our membership to ensure that the U.S. plastics market has its place in the globalization of our industry."

Carteaux has an MBA from Indiana Wesleyan University and a BS from Purdue, where, in 1998, he was the first recipient of the Outstanding Alumnus Award from the University's Agricultural and Biological Engineering Department.

Founded in 1937, The Society of the Plastics Industry, Inc., is the trade association representing one of the largest manufacturing industries in the United States. SPI's members represent the entire plastics industry supply chain, including processors, machinery and equipment manufacturers and raw materials suppliers. The U.S. plastics industry employs 1.4 million workers and provides nearly $310 billion in annual shipments. For more information, visit SPI on the Web at www.plasticsindustry.org.

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