RAYMOR INDUSTRIES INC.
TSX VENTURE : RAR
August 25, 2005 09:17 ET
Raymor Receives a Titanium Powder Order from Thortex for Orthopedic Component Manufacturing
MONTREAL, QUEBEC--(CCNMatthews - Aug. 25, 2005) - Raymor Industries Inc. (TSX VENTURE:RAR) is proud to announce that its wholly-owned subsidiary, AP&C Advanced Powders and Coatings Inc. has received an order from Thortex Inc. for the delivery of titanium powder used in the manufacturing of biomedical components. Thortex is an important US manufacturer of biomedical components, with more than 170 employees located at their Portland, Oregon facility. Thortex is considering the use of AP&C powders in the commercialization of orthopedic components using the metal injection molding (MIM) approach.
The orthopedic components manufactured by Thortex are currently being used for artificial hips, knees, elbows, shoulders and other joints of the human body. In order to become more competitive, Thortex has developed an orthopedic component manufacturing process using metal injection molding (MIM).
AP&C's metallic powders are produced using the patented Plasma Atomization Process. This globally unique process produces a highly pure metallic powder with an exceptional sphericity. These two properties allow AP&C's metallic powders to offer the best performance for metal injection molding (MIM) applications. The Plasma Atomization Process, of which AP&C holds an exclusive, worldwide license, was developed at the beginning of the 90's at Hydro-Quebec's Shawinigan laboratory in collaboration with Noranda.
"The exceptional purity and sphericity of our metallic titanium powders allows us to respond favourably to the very strict requirements of the biomedical sector," said Dr. Michel Drouet, Chief Scientist with AP&C. "We are happy to add Thortex to our list of customers using our titanium powders for biomedical implants and components," adds Dr. Drouet.
The world market for orthopedic implants was more than US$6.4 billion in 2002. Analysts from the renowned Freedonia Group predict markets of US$8.7 billion in 2007 and US$11.6 billion in 2012. The overall growth rate for this sector will be 6.2%. However, Freedonia Group and Frost & Sullivan both agree that this growth rate can increase significantly (up to 15% per year), given the potential removal of certain anti-inflammatory and pain medications from the market place by the FDA. As well, an aging population will likely have an impact on the orthopedic implant market growth rate.
RAYMOR INDUSTRIES INC. (TSX-V: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) metal and ceramic 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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