February 17, 2009 15:42 ET

Raymor Update

BOISBRIAND, QUEBEC--(Marketwire - Feb. 17, 2009) - Raymor Industries Inc. ("Raymor") (TSX VENTURE:RAR) announces that in order to reduce actual expenses and for the present period, the company must stop operations of all its divisions and lay-off temporarily the staff of its subsidiaries as of February 10th 2009. The court awarded on February 13th an extension to the Notice of Intent allowing the company seven additional days to finalize its financing. Management actively pursues discussion with various funding sources to secure the necessary financing. This financing should enable the company to make a proposal to creditors.

"We sincerely hope that this will be a short lay-off since we have many clients waiting for operations to resume."said Stephane Robert , President of Raymor Industries Inc. "However, we are very happy about the turn of events from the court; this extension provides the company with a fighting chance to establish the financing it needs". added M. Robert.

The management intends to continue providing regular and timely updates with respect to both financial position and creditor obligations.

About Raymor Industries

RAYMOR INDUSTRIES INC. (TSX VENTURE: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. Raymor Industries operates three wholly-owned, industrial subsidiaries, Raymor Nanotech, Raymor Aerospace and AP&C Advanced Powders and Coatings, specializing in nanotechnology and advanced materials, and comprising four 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.


Stephane Robert, President.

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