Flexfab began developing focused business segments to serve the individual needs of specific industries in 1998, with the formation of the company's Aerospace Business Unit.  Under the new organization, there is new a business unit dedicated to each of four major industries, also including Truck, Automotive, Aerospace and Military/Industrial markets.  Flexfab will combine North American operations with its international units to form a single, global organization to provide polymer-based engineering solutions to the North American, European and South American markets.

"We have been blessed with tremendous success in our heritage businesses," said DeCamp.  "With these new business groups, we will be in a better position to deliver our skills and resources to customers on three continents.  By making these changes, Flexfab will become a global team, with defined industry expertise and customer service dedicated to worldwide growth."

Another member of the FHI Family of Companies, Flexfab Molded Products LLC (East Troy, Wisconsin), has served as an entry point into several completely new markets for FHI. "As a result of the molded products group's work," DeCamp continued, "We have opened relationships with an entirely new group of customers in a broad range of industries, including medical, pharmaceutical, food and electronics.  These new applications present an opportunity to diversify our traditional businesses."   The Flexfab Molded Products unit will continue to operate as a separate entity within FHI.

To implement the new organization plan, FHI has announced the following promotions and assignments, effective October 1, 2001 to allow time for transition to the new structure:

Paul Timmons, currently Vice President / General Manager, will be promoted to President of Flexfab LLC.  Paul will oversee North American Operations, Flexfab Europe LTD and Flexfab South America.

Matthew DeCamp, Aerospace Business Unit Manager, will be the company's new Vice President / General Manager of North American Operations, reporting to Paul Timmons.  Matt will be responsible for all of the Business Units, including sales, engineering, manufacturing and quality functions.

David Brown, the current Vice President of Marketing & New Business Development, has accepted the assignment of Vice President, International Business and Technology.  In this position, David assumes responsibility for Flexfab Europe and Flexfab South America.  He has also been assigned the important task of heading up the consolidation of FHI's Research & Development into the company's new Technology Development Center, which will address Material Development and Rapids Prototyping.  David retains the function of Vice President, New Business and Technology, which he has held in the FHI corporate structure.

Hugh Boyce will be returning to the USA from his term as Managing Director of Flexfab Europe and report to David Brown as Director of International Sales.

John Price has announced his intention to retire as Chief Operating Officer of FHI, effective September 30, 2001.  Jim Toburen, Vice President of Corporate Services and Continuous Improvement, will also retire at the end of this year after 29 years with the company.  Both men have been retained as consultants to the company for future strategic planning activities.

DeCamp made a  special point of thanking the 580 employees of FHI for their part in the company's growth and future.  "I want to take this opportunity to thank all of you for creating the kind of team that can take on the challenge of an increasingly competitive world marketplace," he said.