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Metglas, Inc. Announces $20 Million Expansion to Amorphous Metals Production Facility - Metglas, Inc, a subsidiary of Hitachi Metals America, Ltd., is expanding their operations with approximately $20 million capital investment that will create 25 new jobs over the next three years - Metglas.com
Metglas, Inc. Announces $20 Million Expansion to Amorphous Metals Production Facility

 

NewswireToday - /newswire/ - Conway, SC, United States, 2008/07/30 - Metglas, Inc, a subsidiary of Hitachi Metals America, Ltd., is expanding their operations with approximately $20 million capital investment that will create 25 new jobs over the next three years - Metglas.com.

   
 
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Metglas (metglas.com), located, within the Atlantic Industrial Center in Conway, is the world pioneer in the development and commercialization of amorphous metal. Metglas currently exports over 90% of the materials manufactured in the Conway plant for applications that include transformers, medical equipment, automotive emission reduction and anti-theft devices.

Amorphous metal distribution transformers are the globally accepted method of maximizing electricity distribution energy efficiency and minimizing greenhouse gas emissions from generation while providing measurable economic value to utilities. The October 2007 US Department of Energy regulation Energy Conservation Program for Commercial Equipment: Distribution Transformers Energy Conservation Standards, effective January 1st 2010, mandates energy efficiency that is easily achievable with Metglas amorphous electrical steel.

“This expansion will allow Metglas to better serve the electricity transmission and distribution market by allowing for the manufacture of more ultra-efficient Metglas-based transformers. Both utilities and electricity consumers will benefit by saving money over the life of the transformer due to lower energy losses” says Dave Millure, Senior Vice President of Sales and Marketing at Metglas, Inc. “A significant share of the new transformers in India, China and other Asian countries already includes Metglas. Now, with the ability to supply more to the Americas and European markets, the entire world will be able to take advantage of this important technology.”

The expansion of the casting operations at the Conway facility will increase the supply of Metglas electrical steel for transformers by over 50% allowing the company to better supply the growing North and South American markets with energy efficient solutions to electricity distribution. If similar expansions elsewhere in the world are included, Hitachi Metals will have increased capacity by over 300% by the time the Conway expansion is complete. “This investment in eco-friendly Metglas further demonstrates Hitachi Metals’ overarching desire to provide solutions to the world that lower greenhouse gas emissions in a cost effective manner for customers.” says Dodd Smith, President and Chief Operating Officer, Metglas, Inc.

“Metglas stands ready to work with transformer makers to ensure that they make the best use of the extraordinary properties that Metglas provides. We also look forward to any opportunity to talk with utilities to explain the value that a Metglas-based transformer can bring to them and their customers.” says Millure.

 
 
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Written by / Agency / Source: Metglas, Inc.

 
 

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Metglas, Inc. Announces $20 Million Expansion to Amorphous Metals Production Facility

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Publisher Contact: Dave Millure - Metglas.com 
843-349-6800 metglas[.]metglas.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Metglas, Inc. securities in any jurisdiction including any other companies listed or named in this release.

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