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Dynamic Materials Awarded $14.8 Million in Orders for Clad Plates to Be Used in Major Australian Natural Gas Project
| Source: Dynamic Materials Corp.
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.