Raymor Receives Strategic Coating Contract from Valvtechnologies USA for the Goro Project, New Caledonia.
Valvtechnologies, a private US company based in Houston, Texas, is a global leader in the design and manufacturing of flow control devices.Valvtechnologies recently announced that they received a contract for the supply of valves to the Goro Project.The Goro Project, being built by Inco (TSX:N, NYSE:N), will include the largest high pressure acid leaching (HPAL) plant in the world for the production of nickel.Located on the South Pacific island of New Caledonia, the US$1.878 billion plant which will produce 60,000 tonnes of nickel per year, is projected to be operational by late 2007.
AP&C has developed its expertise through a significant research & development effort in the field of thermal spraying. This program was accomplished with prestigious clients in the aerospace and industrial sectors and required the purchase of a Vacuum Plasma Spray (VPS) coating chamber at a value of more than $2.5 million. This unit is the only commercial VPS chamber in Canada, which was used for work with the US Navy for the development of nanocoatings onto various critical components.
"This order confirms Raymor's position as the leading provider of high quality VPS ceramic coatings for critical applications," said Mr. Stephane Robert, President of Raymor Industries. "For competitive reasons, our clients require non-disclosure agreements, which does not permit Raymor to divulge contract details, however, we are confident that the Goro project will be a source of repeat business for the company, specifically with the maintenance of these valves," added Mr. Robert.
According to BCC Research, a US research firm, the North American market for high-performance ceramic coatings was US$1.1 billion in 2004.This market is projected to grow at an annual rate of 7.6% to reach sales of $1.6 billion by 2009.
About Raymor Industries
RAYMOR INDUSTRIES INC. (TSX-V:RAR) has as its mission to become a leading developer of high technology for the production of single-walled carbon nanotubes, nanomaterials and other advanced materials for high value-added applications. In November 2004, Raymor Industries created a wholly-owned, industrial subsidiary, AP&C Advanced Powders and Coatings, specializing in nanotechnology and advanced materials, and comprising four operational divisions: (1) nanotechnology products, including nano-powders, nano-coatings, and single-walled carbon nanotubes (C-SWNT) for "the applications of tomorrow"; (2) thermal spray coatings, which largely targets military, aeronautical, aerospace, specialized industrial, and mining applications; (3) spherical metallic powders, primarily used for biomedical and aerospace applications; and (4) net-shape forming, a component manufacturing technique used for ballistic protection and other aerospace and military applications. Raymor holds the exclusive rights to more than 20 patents throughout the world, with other patents pending.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephane Robert, President.
The TSX Venture Exchange does not accept responsibility for the ad equacy or accuracy of this release
RAYMOR INDUSTRIES INC. (TSX VENTURE:RAR)
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|Date:||Feb 15, 2006|
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