Alyn to open production facility in January; management "on track" for significant revenues starting second half '97.IRVINE, Calif.--(BUSINESS WIRE)--Nov. 21, 1996--Alyn Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ALYN), the newly public owner of patented Boralyn(R) metal matrix composite Metal matrix composite A material in which a continuous metallic phase (the matrix) is combined with another phase (the reinforcement) that constitutes a few percent to around 50% of the material's total volume. material, Thursday announced it will begin casting of Boralyn(R) parts in January and will be extruding products in the first quarter of 1997. Alyn said opening of its new, world-class Irvine production facility is on schedule and this and the continuing expansion of its customer base puts the company "on track" for significant revenues in the second half of 1997. Alyn completed a $37 million initial public offering on Oct. 22, 1996. President and Chief Executive Officer Robin A. Carden said the company has the engineering and, as the new facilities come on line, manufacturing capabilities necessary to design, develop and cost effectively manufacture finished Boralyn(R) products and parts. Customer Gains He also said that important gains continue to be made in Alyn's strategy of participating with OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and leaders in large vertical markets to introduce superior Boralyn(R)-based products: In the high-end sports markets, a production order for bicycle rims has been received from Trek Bicycle Corp. and Alyn is supplying sample parts to several other bicycle manufacturers, the most recent being Service Cycle Supply Co. In September, the company announced an exclusive licensing and sales agreement with Taylor Made Golf Company Inc. for the production and purchase of Boralyn(R)-based metalwood golf club heads. Carden said, "Our Taylor Made program is on schedule and the initial results have validated val·i·date tr.v. val·i·dat·ed, val·i·dat·ing, val·i·dates 1. To declare or make legally valid. 2. To mark with an indication of official sanction. 3. our expectations as to the performance of the material." In aerospace markets, sample parts have been provided to several corporations including Hughes Space and Communications and Cessna Aircraft for test and evaluation. In the Defense area, a recent prototype order was received from Lockheed Martin For the former company, see . Lockheed Martin (NYSE: LMT) is a leading multinational aerospace manufacturer and advanced technology company formed in 1995 by the merger of Lockheed Corporation with Martin Marietta. . In the hard disk area, the company is providing disk substrate The base layer of a structure such as a chip, multichip module (MCM), printed circuit board or disk platter. Silicon is the most widely used substrate for chips. Fiberglass (FR4) is mostly used for printed circuit boards, and ceramic is used for MCMs. samples to OEMs including IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) for computer hard drives. Boralyn Boralyn(R) is a new metal matrix composite material with the principal constituents being aluminum and boron carbide boron carbide n. A compound of boron and carbon, especially B4C, an extremely hard, black crystalline compound or solid solution. It is used as an abrasive, in control rods for nuclear reactors, and as a reinforcing filament in composite . In many applications, it provides superior performance, manufacturing or cost characteristics when compared to other materials. A key characteristic of Boralyn(R) is relatively low density compared to certain alternative materials such as steel, titanium titanium (tītā`nēəm, tĭ–) [from Titan], metallic chemical element; symbol Ti; at. no. 22; at. wt. 47.88; m.p. 1,675°C;; b.p. 3,260°C;; sp. gr. 4.54 at 20°C;; valence +2, +3, or +4. and aluminum. This contributes to its greater specific strength and greater specific stiffness. For many applications, Boralyn(R) also demonstrates superior cycle life, hardness and corrosion resistance. Forward Looking Statements This announcement contains forward looking statements which depend on a variety of factors, including but not limited to the evaluation of prototypes by OEM customers and their willingness to and success in introducing products using Boralyn(R). Financial results may significantly vary from those in today's forward looking statements if actual experience differs from management's expectations regarding these and other factors. A detailed list of risk factors is included in the company's Prospectus dated Oct. 22, 1996. Alyn Corp. is the sole developer and provider of products based on the patented metal matrix composite material, Boralyn(R). Alyn is presently working with the U.S. government, research institutions and a growing number of market leading original equipment manufacturers to apply Boralyn(R) to a wide range of advanced products. CONTACT: Alyn Corp., Irvine Phillip R. Gustavson, 714/475-1525 or The Financial Relations Board Karen Taylor Karen Taylor is an English comedienne from Barrow-in-Furness, Cumbria. She is a former finalist in the prestigious Daily Telegraph Open Mic Award[1] and has fronted her own sketch show on BBC Three, entitled Touch Me, I'm Karen Taylor. (General Information), 310/442-0599 Moira Conlon (Investor/Analyst Contact), 310/442-0599 |
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