- 6 -
The original name of the corporation was Powerstrap, Inc., which was
subsequently changed to Powertex Corporation, Inc., in 1979 and
finally to Powertex, Inc., in 1984. Powertex was initially formed
to be a packaging manufacturer. Powertex began its business
operations in Alburg, Vermont, on property owned by Mr. Podd. In
1984, Powertex expanded its business from the Alburg facility to a
new manufacturing plant in Rouses Point, New York.
From 1977 through 1992, Mr. Podd was the president, chief
executive officer and largest shareholder of Powertex, and Mrs. Podd
was its corporate secretary and treasurer. From 1983 through 1990,
their children, Victor I. Podd (Victor, Jr.), and Stephen D. Podd
(Stephen), served as vice presidents of Powertex. From 1977 through
1990, all of the outstanding stock in Powertex was owned by Mr.
Podd, Victor, Jr., Stephen, and Mrs. Podd. From 1977 through 1990,
Mr. Podd and his two sons (collectively, the Podds) and Mrs. Podd
were Canadian citizens.
Today, Powertex is a manufacturer of several products used in
the shipping industry. The core products sold by Powertex are
intermodal container liner systems, used to transport such dry bulk
flowable products as rice, corn, sugar, carbon black, and PVC
resins. Intermodal cargo containers come in either 20-, 35-, or 40-
foot lengths, and can carry up to 24 tons of cargo. An intermodal
container liner is a plastic liner placed inside a shipping
container for the purpose of protecting the contents from loss and
contamination during shipment and to prevent corrosion of the
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011