Document 3Q6LJDQzvXEdr7X0aEbJ2d7bn

1 I 65 Madison Avenue Morristown, New Jersey 07960 NEWS FOR IMMEDIATE RELEASE CONTACT: Michelle McDonough (800) 969-VINYL (8469) (216) 376-6500 or Fred Abler The Toggle Tube Company (805) 544-4918 "A PENNY SAVED IS A PENNY EARNED" WITH COIN ROLLS MADE FROM RECYCLED VINYL Editor's Note: A color photo is available upon request SAN LUIS OBISPO, California, May 5, 1994 -- Banking industry employees and consumers alike have a better way to sort and save loose change with the development of the Toggle Tube Company's coin rolls made from 85 percent post-industrial recycled vinyl (polyvinyl chloride or PVC). Financial assistance for the project came in part from the Vinyl Institute, a national trade association representing the leading U.S. manufacturers of vinyl, vinyl feedstocks and additives, and vinyl film and sheet products. A year ago, the Institute launched a special program to identify and provide limited financial support to manufacturers of recycled vinyl products seeking to expand their product lines. As part of this program, qualified candidates can receive a portion of the up-front tool costs required to commercialize a new product, which is repaid as a royalty on the sale of each product. -more- The Vinyl Institute, A Division of The Society of the Plastics Industry The original copy ol this document printed on recycled paper. CTL014835 In this case, with funding in place, the Toggle Tube Company contracted pilot production of its coin banks to Reliable Plastic Seals Inc., a manufacturer of tamper evident vinyl seals in Opelika, Alabama. The proprietary coin rolls were designed and developed by Fred Abler, president of the Toggle Tube Company. According to Abler, the translucent coin rolls offer several advantages over disposable paper coin wrappers: They contain recycled vinyl material and are reusable, Translucent for visual verification of contents, Cut to hold the exact number of coins required per roll, and Provide a safe, rapid and secure means of opening and closure. "Because the coin rolls are made from recycled vinyl, we estimate that they will consume nearly 450 tons of vinyl each year that might otherwise be landfilled," stated Abler. "The reusable product displaces an even greater amount of disposable paper coin wraps from the waste stream as Americans currently throw away 4,700 tons of paper coin wrappers each year." The coin rolls contain 85 percent post-industrial vinyl scrap and 15 percent virgin resin. The post-industrial scrap is shipped to Reliable Plastic Seals, which then pulverizes and extrudes the material, forming it into coin rolls of various sizes. The Toggle Tube Company is currently identifying sources of post-consumer regrind to incorporate into its product. Vinyl sleeves from photo-finishing stores arc just one compatible source the company is looking at. -more- CTL014836 t- -3Abler indicates that the coin rolls are well-suited for bank tellers, cash vault managers and banking administrators because they can be reused up to 30 times, thus extending the product's lifecycle. In California alone, an estimated 457.7 million coin wrappers are disposed of each year. He also believes these rolls could help solve a problem facing both the U.S. and Canadian Mints. Currently, pennies are the most costly coin and often times, people consider them a nuisance and throw them away. In fact, the U.S. Mint devotes 80 percent of its capacity to making pennies, costing American taxpayers $90 million in 1993 alone. In Canada, the cent costs more than its face value to manufacture. Abler adds that the novelty and utility of the vinyl rolls would help people to recycle coins, while saving the Mints unnecessary manufacturing costs of the one-cent coin. The Toggle Tube Company receives market development assistance through its participation in the Central California Recycling Market Development Zone, a project of the California State Integrated Waste Management Board, and also receives marketing guidance from the Small Business Institute of Cal Poly State University, San Luis Obispo, California. "The assistance we've received from the Vinyl Institute through its "Request for Proposal" program, and the California State Integrated Waste Management Board have certainly brought this project to reality," stated Abler. "Without the up-front tooling costs required to commercialize this new product, the Toggle Tube Company would not be diverting tons of vinyl scrap from the nation's landfills." For more information on the Vinyl Institute's "Request for Proposal" program, please contact the Vinyl Environmental Resource Center at 1-800-969-VINYL (8469). tttt ff CTL014837 CTL014838