PyroGenesis Signs Mutually Exclusive Partnership Agreement with Aubert & Duval to Supply Plasma Atomized Titanium Powder to European Union Additive Manufacturing/3D Printing Market
MONTREAL, Jan. 08, 2019 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF) (Frankfurt: 8PY: FRA) a TSX Venture 50® high-tech company, (the "Company", the “Corporation” or "PyroGenesis") a Company that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, is pleased to announce today that it has signed a mutually exclusive Partnership Agreement (the “Agreement”) with Aubert & Duval, together the “Parties”), a subsidiary of the ERAMET Group (2017: Sales: > Can$5.4 Billion; Assets: > Can$4.9 billion; Paris Stock Exchange: ERA.PA). The Agreement outlines a multi-step strategy between the Parties to supply plasma atomized titanium powder, on a mutually exclusive basis, to the Additive Manufacturing (“AM”) Market in Europe (the “Market”). The Agreement envisions establishing production capability in the Market on mutually agreeable terms.
Aubert & Duval is a world leader in industrializing high-performance steel, super alloy, aluminum and titanium alloys for over a century. More specifically, they are a recognized supplier of metal powders for additive manufacturing, serving the Aerospace, Energy, Transport, Medical, Defense, Automotive and other large scale, demanding markets.
“Aubert & Duval, founded in 1907, is a recognized supplier of fine metallic powders for AM in demanding markets such as aerospace, energy, medical, defense and automotive,”
said Mr. Massimo Dattilo, Vice President of PyroGenesis Additive.
“They have a strong metallurgical expertise, and a long history in powder atomization. The addition of PyroGenesis’ capabilities complements their current product offerings in a field in which they are an established supplier. Aubert & Duval has a history of supporting their customers in AM, from the development of product to mass production, and we are happy to partner with them.”
“This Agreement establishes the framework within which Aubert & Duval and PyroGenesis shall work together to distribute the titanium powders manufactured by PyroGenesis to the Market. There are provisions for the expansion of the Market upon mutual agreement by the Parties,”
said Mr. P. Peter Pascali, President and CEO of PyroGenesis.
“This relationship will undoubtably accelerate our growth in our AM business line and complements our corporate strategy to team up with established players who have an impeccable reputation and a strong balance sheet, to accelerate our growth. This is a very significant milestone not only for PyroGenesis and Aubert & Duval, but for the industry as a whole. This strategic partnership speaks to the Parties’ complementary strengths: PyroGenesis’ extensive plasma expertise as the inventor of Plasma Atomization, and Aubert & Duval’s large network of customers, strong balance sheet, and extensive knowledge of the market.”
In a press release issued January 8th, 2019, Jérôme Fabre, Eramet Group's Deputy CEO in charge of the Alloys division, described the benefits of the partnership as follows: "With our metallurgical expertise for demanding markets such as aeronautics and energy, this partnership with PyroGenesis allows us to complete our offer of metal powders for additive manufacturing, including 3D printing, a growing market of the industry of the future."
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., a TSX Venture 50® high-tech company, is the world leader in the design, development, manufacture and commercialization of advanced plasma processes and products. We provide engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, advanced materials (including 3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Our core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. Our operations are ISO 9001:2015 certified and have been since 1997. PyroGenesis is a publicly-traded Canadian Corporation on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace. For more information, please visit www.pyrogenesis.com
Eramet is one of the world’s leading producers of:
Manganese and nickel, used to improve the properties of steels, and mineral sands (titanium dioxide and zircon), parts and semi-finished products in alloys and high-performance special steels used by industries such as aerospace, power generation, and tooling.
Eramet is also developing activities with strong growth potential, such as lithium extraction and recycling, called to play a key role in the energy transition and the mobility of the future.
The Group employs around 12,600 people in 20 countries. www.eramet.com
About Aubert & Duval:
Aubert & Duval, a subsidiary of the Alloys division of the Eramet group, is a metallurgist expert and one of the world leaders in high-performance steels, superalloys, titanium and aluminum. Aubert & Duval designs and develops advanced metallurgical solutions in the form of closed-die forged or forged parts, long products or metal powders for projects in the most demanding industries: aeronautics, energy, defense, nuclear, medical. www.aubertduval.com
This press release contains certain forward-looking statements, including, without limitation, statements containing the words "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "in the process" and other similar expressions which constitute "forward- looking information" within the meaning of applicable securities laws. Forward-looking statements reflect the Corporation's current expectation and assumptions and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Corporation with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Corporation's ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com, or at www.otcmarkets.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward- looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.
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SOURCE PyroGenesis Canada Inc.