RAYMOR INDUSTRIES INC.
TSX VENTURE : RAR
September 01, 2005 09:23 ET
Raymor Begins Thermal Spray Coatings Contracts with SIEMENS PG for Power Generation Turbines
MONTREAL, QUEBEC--(CCNMatthews - Sept. 1, 2005) - Raymor Industries Inc. (TSX VENTURE:RAR) is proud to announce that its wholly-owned subsidiary, AP&C Advanced Powders and Coatings Inc. (AP&C) has begun fulfilling contracts with SIEMENS Power Generation (PG) for the application of thermal spray coatings onto turbine components used in power generation. The start up of these contracts with SIEMENS follows many pre-qualification steps undertaken over the last six months. SIEMENS PG, a division of SIEMENS AG is one of the world's leading suppliers of power plant technology and services.
SIEMENS PG, with over 30,000 employees globally, posted sales of 7.5 billion euros in fiscal year 2004. With over 600,000 megawatts of capacity in service around the world, SIEMENS PG requires thermal spray coating services providers for the repair and overhaul of turbine components. AP&C will provide these services to SIEMENS PG.
"We are proud to have positioned AP&C in the power generation turbine market with a leader such as SIEMENS PG," said Stephane Robert, President of Raymor Industries. "For us, the potential for our coating services in this application is very large, given that the turbine market for power generation represents a very important global market," adds Mr. Robert.
AP&C's Thermal Spray Coatings Division has highly specialized equipment to offer HVOF (High Velocity Oxyfuel), APS (Atmospheric Plasma Spray), and VPS (Vacuum Plasma Spray) coating services, an analytical laboratory, and highly qualified personnel for the production and development of new industrial coatings, including nanocoatings. AP&C intends on becoming a leader in thermal spray coatings for various applications in the aerospace, aeronautics, and military sectors, as well as other specialized industrial sectors such as turbines used for power generation.
The global market for turbines was US$63.1 billion in 2004. Analysts from the renown Freedonia Group forecasts that this market will grow at an annual rate of 6.5% to reach revenues over US$86.4 billion by 2009.
RAYMOR INDUSTRIES INC. (TSX VENTURE:RAR) has as its mission to become the leading Canadian developer of high technology and a producer/recycler of advanced materials and nanomaterials 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.
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