IMS Signs Agreement with Sonoco Products Company

MORRISVILLE, NC -- (INTERNET WIRE) -- 12/12/2001 -- Industrial Microwave Systems, L.L.C., a developer of patented microwave technologies for industrial processes, announced today that it has signed a Technology Development Agreement with Sonoco Products Company (NYSE: SON), the global packaging company. Under the agreement, the companies will develop and commercialize IMS’ microwave drying technology for packaging applications.

“Applying IMS’ microwave technology with the packaging technology of Sonoco, we are confident that we can increase process speeds, improve energy efficiencies and deliver a more consistent, higher quality product,” said Dr. J. Michael Drozd, president and chief executive officer of IMS. “Our technology has been used to improve textile, chemical and food processes by drying and heating more efficiently and more consistently than traditional means. Now by working with the world leader in packaging, we have an opportunity to prove the value of our technology in this industry, as well.”

Sonoco, founded in 1899, is a $2.7 billion manufacturer of industrial and consumer packaging products and provider of packaging services, with approximately 300 operations in 33 countries serving customers in 85 nations.

About IMS
IMS, founded in 1997 and located in Morrisville, North Carolina, develops and markets microwave-based heating and drying systems for continuous flow manufacturing processes. These systems are significantly more energy efficient, are less expensive to install, operate and maintain, provide dramatic increases in processing speeds and deliver substantially more consistent and higher quality product resulting in overall production cost reductions.