Press Releases
MesoCoat Inc. Opens New Metal Cladding and Coating Facility with One of the Most Powerful Arc Lamps
September 14, 2011
MIAMI, FLORIDA -- Abakan Inc. (OTCQB "ABKI") ("Abakan") is pleased to announce that its subsidiary MesoCoat Inc. has finalized their agreement to move into a new 10,000 sq. ft. facility in Eastlake, Ohio. The facility is designed to accommodate two metal fusion cladding lines for CermaClad™ and thermal spray coating cells for PComP™, including a metallurgical and analytical lab.
MesoCoat Inc. currently occupies two facilities in Ohio with a third 11,000 sq. ft. facility under-construction (expected production start date, Jan. 2012). This new Eastlake facility will be their fourth facility in Ohio within a 5 mile radius. It will primarily be used for cladding plates and components for the oil and gas, mining, and shipbuilding industries; along with thermal spray coatings to serve the oil and gas, and mining industries in the U.S.
At this facility, MesoCoat will be installing a 600 kW fusion cladding arc lamp system, one of the most powerful arc lamps ever manufactured. MesoCoat acquired this 600 kW arc lamp under a joint development agreement with a multi-national heavy equipment manufacturer; where MesoCoat will work towards developing wear and corrosion-resistant cladding using the arc lamp for equipment and components manufactured by them. Andrew Sherman, CEO, MesoCoat Inc. stated that "we have been using 200 kW arc lamp systems to produce metallurgically clad qualification samples, and the results so far have been excellent, now with this 600 kW arc lamp system we are certain that we can not only achieve even better results but also rapidly scale-up our production efforts. With this arc lamp system, and the internal pipe diameter cladding system that was delivered in August, we now have adequate fusion cladding capacity to do smaller component coating jobs until our first full-size facility comes on-stream in first quarter 2012. 2011 has been fantastic for us. Since the beginning of the year we have increased from operating in 20,000 to 48,000 sq. ft. in 4 facilities, will have added close to 20 new employees, and anticipate the delivery of two additional 500kW cladding systems in the first quarter of 2012."
About Abakan Inc.
Abakan is a Miami-based, publicly traded company that invests in companies that have developed transformational technologies on the cusp of commercial acceptance. In addition to supporting MesoCoat’s development, Abakan is involved in Powdermet’s commercialization of its metal formulations and advanced energy management solutions. Both MesoCoat and Powdermet have received numerous industry awards (including R&D; 100, National Institute of Standards and Technology, and Technology Innovation Program awards) and numerous government grants.
Forward-Looking Statements:
A number of statements contained in this press release are forward-looking statements. These forward-looking statements involve a number of risks and uncertainties including technological obsolescence, market acceptance of future products, competitive market conditions, and the sufficiency of capital resources. The actual results Abakan may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Abakan encourages the public to read the information provided here in conjunction with its most recent filings on Form 8-K, Form 10-K and Form 10-Q. Abakan’s public filings may be viewed at www.sec.gov.
Abakan Inc.
Robert Miller, Chief Executive Officer
Phone: +1-786-206-5368
Email: [email protected]
www.abakaninc.com