November 20, 2009

NEWT GINGRICH HONORS RICHARD SCHLOESSER, CEO, TORAY PLASTICS, INC., AS ENTREPRENEUR OF THE YEAR

NEWT GINGRICH HONORS RICHARD SCHLOESSER, CEO, TORAY PLASTICS, INC., AS ENTREPRENEUR OF THE YEAR

Washington, DC (November 20, 2009) ‰— The chief executive of North Kingstown-based Toray Plastics (America) was honored last month as Entrepreneur of the Year from Rhode Island by former Speaker of the House and General Chairman of American Solutions Newt Gingrich.

American Solutions, a conservative lobbying group, bestowed the award on Richard Schloesser during an awards dinner at the Capitol Hill Club in Washington D.C.

"While Washington politicians are busy imposing legislation that reduces jobs with health care and energy taxes, it‰'s important that successful businessmen like Rick are recognized for doing what it takes to create jobs,‰" Gingrich said in a statement. ‰"America is nearing 10 percent unemployment, and creating new jobs is necessary for economic recovery. Unlike Washington, business leaders like Rick realize that America does not work if Americans are not working. I look forward to working with Rick and Toray Plastics (America) on advancing real solutions to help create more jobs and get our economy moving again.‰"

In wake of the Federal Reserve\s recent report that we are at a 10.2% national unemployment rate, American Solutions launched a "Jobs Here - Jobs Now - Jobs First" agenda that contains four positive solutions to help small business create new jobs now. The four solutions are a 2 year, 50% payroll tax cut, cutting the corporate tax rate to 12.5% to match Ireland, abolishing the capital gains tax to match China, and ending the death tax.

Schloesser was named CEO of Toray Plastics (America) in January and became the first American to hold the position. Before that Schloesser was the first American president and chief operating officer of Toray Plastics ‰— a unit of Japan‰'s Toray Industries Inc. — and a year earlier had been named its first American executive vice president. Schloesser joined Toray Plastics (America) in 1990 as a sales and marketing manager with the Torayfan division. He previously worked at ExxonMobil for 13 years, including nine years in that company‰'s films division.

Toray Plastics (America) Inc., founded in 1985, is a manufacturer of polyester and polypropylene films for flexible and rigid packaging, lidding, graphic, industrial, optical and electronic applications. It is a subsidiary of Tokyo-based Toray Industries Inc., a maker of synthetic fibers and textiles, carbon fibers, plastics, chemicals, pharmaceuticals and high-performance films whose annual sales exceed $16 billion. To learn more, visit www.TorayFilms.com.