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Pvaxx Limited Engages Paul Nugent As Lead Rotational Moulding, Consultant

Hamilton, Bermuda: 20 December 2004 - PVAXX Ltd., a Bermuda based hi-tech commercial materials corporation (the "Company"), announced today that it has officially retained Paul Nugent to provide ongoing rotational moulding based consulting and advisory services in connection with the Company's global pallet manufacturing business and operations.

.  Dr. Nugent, who has worked with PVAXX for many months,, stated that "In this project PVAXX demonstrates a rare combination of material technical expertise and market savvy. Application of their novel composite system to the enormous and demanding pallet field is set to take rotomoulding to new heights. I look forward to contributing strongly to the project."

 

Paul Nugent€”

 

Dr. Nugent was educated at The Queen's University of Belfast in Northern Ireland and holds a Masters of Engineering degree in aeronautical engineering and a PhD in mechanical engineering. The subject of his PhD work covered heat transfer and process variables in rotational moulding. During the course of his research, he developed the world's first process control system for rotational moulding (known as Rotolog) and also the first complete computer simulation (known as RotoSim). Upon completion of his studies in 1990 he assumed the position of Research Fellow at Queen's University to continue development work and the creation of a research centre at the university. Over the next five years, he acted as manager of the Rotational Moulding Research Centre at Queen's University that has been recognized since then as the premier centre for research in this area worldwide.

 

In 1995, Dr. Nugent moved from the academic field into a management position in a rotational moulding company in the United States. As Vice-President of Operations at Remcon Plastics, Inc. in Pennsylvania, he was responsible for production, engineering and quality control. During this time, he was responsible for implementing ISO9001 across the two plant facility and continued process control development. In 2001 he left Remcon Plastics to write a book on rotational molding entitled Rotational Molding: A Practical Guide and has since offered his services in training and consulting to the industry on a worldwide basis. This enables him to travel extensively across six continents assisting clients in many roles from teaching to expert witness and from process troubleshooting to the streamlining of manufacturing operations.

Henry Stevens, Chief Operating Officer of the Company advised "Paul is a recognized world authority on rotational moulding and his services to date have been invaluable to the progression of our final designs and production facility set-up.  He is also assisting us to identify key additional relationships that will allow us to tap a wide range of talent making our rotational moulding project truly state-of-the-art."

This press release may include forward-looking statements about the Company's revenues and earnings and future plans and objectives. Any such statements are subject to risks and uncertainties that could cause the actual results to vary materially.

For more information about PVAXX LTD., headquartered in Hamilton, Bermuda, please see:

www.pvaxx.com. 

 

For international investor relations' matters, please contact:

 

investorrelations@pvaxx.com or

 

Financial Dynamics

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