Materion and Longstanding Beryllium Hydroxide Customer Complete Long-term Supply Agreement
May 16 2017 - 9:17AM
Business Wire
Materion Corporation (NYSE:MTRN) announced today that it has
signed an agreement with a longstanding customer for a long-term
supply of beryllium hydroxide material. Shipments from Materion’s
mine and mill operations in western Utah are starting this quarter.
Specific terms of the agreement were not disclosed.
Commenting on the agreement, Jugal Vijayvargiya, Materion
President and Chief Executive Officer, said, “We are excited to
sign a long-term agreement and are especially pleased to resume
regular shipments this quarter to a valued customer. This contract
supports our long-term growth strategy and confirms Materion's
leading position as the only fully integrated supplier of
beryllium-containing products, while also meeting the customer’s
needs for a reliable supply of high-performance beryllium hydroxide
material.”
Materion utilizes its bertrandite ore for conversion to
beryllium hydroxide for its own downstream beryllium metal, alloy
and ceramic operations and for external sale.
The agreement will allow Materion to make long-term plans for
efficient operation of its mine and to ensure stability and
continuity with its raw material supply. Materion, with a minimum
of 75 years of proven reserves, is well positioned to serve global
customer demand. The Company has in recent years enhanced
production capacity at its Utah processing mill, while also
continuing to advance beryllium conversion and processing
technology. Materion is the only company to supply the open market
with a meaningful volume of ore from an active mine.
Materion Corporation is headquartered in Mayfield Heights, Ohio.
The Company, through its wholly owned subsidiaries, supplies highly
engineered advanced enabling materials to global markets. Products
include precious and non-precious specialty metals, inorganic
chemicals and powders, specialty coatings, specialty engineered
beryllium alloys, beryllium and beryllium composites, and
engineered clad and plated metal systems.
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version on businesswire.com: http://www.businesswire.com/news/home/20170516006148/en/
Materion CorporationInvestor
Contact:Stephen F. Shamrock,
216-383-4010stephen.shamrock@materion.comorMedia Contact:Patrick S. Carpenter,
216-383-6835patrick.carpenter@materion.comorhttp://www.materion.comMayfield
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