SOURCE: Dynamic Materials Corp.

Dynamic Materials Corp.

September 14, 2009 08:00 ET

Dynamic Materials Awarded $14.8 Million in Orders for Clad Plates to Be Used in Major Australian Natural Gas Project

BOULDER, CO--(Marketwire - September 14, 2009) - Dynamic Materials Corporation (DMC) (NASDAQ: BOOM), the world's leading provider of explosion-welded clad metal plates, today announced that its Explosive Metalworking business has received two related orders with a combined value at $14.8 million. Both orders are for explosion-welded plates to be used to manufacture upstream equipment for the Gorgon natural gas project located off of Australia's northwest coast. The plates will be produced at DMC's Mt. Braddock, Pennsylvania production facility and are scheduled to ship to German and U.S. fabricator customers during the first half of 2010.

Yvon Cariou, president and CEO, said, "These orders resulted from a cooperative effort by our German and U.S. sales organizations, which have been pursuing these contract opportunities for several months. Our German sales team secured the larger of the two orders, and in the process, established a new customer relationship with a major regional fabricator. The Company-wide collaboration on this project has resulted in one of the largest cumulative orders in DMC's history."

About Dynamic Materials Corporation

Based in Boulder, Colorado, Dynamic Materials Corporation is a leading international metalworking company. Its products, which are typically used in industrial capital projects, include explosion-welded clad metal plates and other metal fabrications for use in a variety of industries, including oil and gas, petrochemicals, alternative energy, hydrometallurgy, aluminum production, shipbuilding, power generation, industrial refrigeration and similar industries. The Company operates three business segments: Explosive Metalworking, which uses proprietary explosive processes to fuse different metals and alloys; Oilfield Products, which manufactures, markets and sells specialized explosive components and systems used to perforate oil and gas wells; and AMK Welding, which utilizes various technologies to weld components for use in power-generation turbines, as well as commercial and military jet engines. For more information, visit the Company's websites at http://www.dynamicmaterials.com and http://www.dynaenergetics.de.

Safe Harbor Language

Except for the historical information contained herein, this news release contains forward-looking statements, including the anticipated completion and shipments of the Gorgon order during the first half of 2010, which involve risks and uncertainties. These risks and uncertainties include, but are not limited to, changes to customer orders; the timely completion of contracts; the timing and price of metal and other raw material; the adequacy of local labor supplies at our facilities; current or future limits on manufacturing capacity at our various operations; as well as the other risks detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended December 31, 2008.

Contact Information

  • CONTACT:
    Pfeiffer High Investor Relations, Inc.
    Geoff High
    303-393-7044