Contact: Bonnie Merrill Limbach
(202) 974-5210

FOR IMMEDIATE RELEASE

SOCIETY OF THE PLASTICS INDUSTRY ENTERS STRATEGIC ALLIANCE WITH ENRON GLOBAL MARKETS

WASHINGTON (August 27, 2001)-- The Society of the Plastics Industry Inc. (SPI), the trade association representing one of the largest manufacturing industries in the United States, announced today that it has entered into a strategic alliance with Enron Global Markets LLC (EGM), to jointly promote price risk management financial products that will help plastics processors in managing financial risks associated with resin price volatility.

Through this agreement, SPI members will have direct access to EGM's experience in the plastics industry and to the financial products the company currently offers to the market. In addition, SPI and EGM will offer special seminars uniquely tailored to the needs of the SPI membership on effectively managing price risk.

“This strategic alliance is an exciting addition to SPI's portfolio of services that help plastics companies grow their businesses and stay competitive in the marketplace. It also demonstrates that Enron is committed to meeting the specific needs of the plastics industry,” said Catherine Randazzo, SPI chief member services officer. “This opportunity allows us to provide our members access to the financial tools that can supply stability in a volatile market as well as access to a strategic corporate counterparty with unparalleled knowledge and experience in both our industry and risk management.”

Companies in the plastics industry today face a number of challenges such as rising raw material and energy costs, and economic factors beyond their control including slow demand. Financial products being offered by EGM can, for example, fix or establish a maximum resin price for a given period of time, thereby allowing the companies to make better business decisions and improve financial stability.

Founded in 1937, SPI has 1,500 members that represent the entire plastics industry supply chain, including processors, machinery and equipment manufacturers and raw material suppliers. Currently the U.S. plastics industry employs 1.5 million workers and provides $304 billion in annual shipments.

Back to Top

More About SPI:   Vision and Mission . Membership . Business Units . Regional Offices . News and Publications . Calendar of Events . Terms and Conditions of Use