Dynamic Materials Awarded $14.8 Million in Orders for Clad Plates to Be Used in Major Australian Natural Gas Project
September 14 2009 - 7:00AM
Marketwired
Dynamic Materials Corporation (DMC) (NASDAQ: BOOM), the world's
leading provider of explosion-welded clad metal plates, today
announced that its Explosive Metalworking business has received two
related orders with a combined value at $14.8 million. Both orders
are for explosion-welded plates to be used to manufacture upstream
equipment for the Gorgon natural gas project located off of
Australia's northwest coast. The plates will be produced at DMC's
Mt. Braddock, Pennsylvania production facility and are scheduled to
ship to German and U.S. fabricator customers during the first half
of 2010.
Yvon Cariou, president and CEO, said, "These orders resulted
from a cooperative effort by our German and U.S. sales
organizations, which have been pursuing these contract
opportunities for several months. Our German sales team secured the
larger of the two orders, and in the process, established a new
customer relationship with a major regional fabricator. The
Company-wide collaboration on this project has resulted in one of
the largest cumulative orders in DMC's history."
About Dynamic Materials Corporation
Based in Boulder, Colorado, Dynamic Materials Corporation is a
leading international metalworking company. Its products, which are
typically used in industrial capital projects, include
explosion-welded clad metal plates and other metal fabrications for
use in a variety of industries, including oil and gas,
petrochemicals, alternative energy, hydrometallurgy, aluminum
production, shipbuilding, power generation, industrial
refrigeration and similar industries. The Company operates three
business segments: Explosive Metalworking, which uses proprietary
explosive processes to fuse different metals and alloys; Oilfield
Products, which manufactures, markets and sells specialized
explosive components and systems used to perforate oil and gas
wells; and AMK Welding, which utilizes various technologies to weld
components for use in power-generation turbines, as well as
commercial and military jet engines. For more information, visit
the Company's websites at http://www.dynamicmaterials.com and
http://www.dynaenergetics.de.
Safe Harbor Language
Except for the historical information contained herein, this
news release contains forward-looking statements, including the
anticipated completion and shipments of the Gorgon order during the
first half of 2010, which involve risks and uncertainties. These
risks and uncertainties include, but are not limited to, changes to
customer orders; the timely completion of contracts; the timing and
price of metal and other raw material; the adequacy of local labor
supplies at our facilities; current or future limits on
manufacturing capacity at our various operations; as well as the
other risks detailed from time to time in the Company's SEC
reports, including the report on Form 10-K for the year ended
December 31, 2008.
CONTACT: Pfeiffer High Investor Relations, Inc. Geoff High
303-393-7044
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