MesoCoat Inc. Ranked #15 Fastest-Growing Manufacturing Company in the Annual Inc. 500|5000 list of Fastest-Growing Companies ...
August 22 2013 - 8:30AM
Abakan Inc. (OTCQB:ABKI) ("Abakan"), an emerging leader in the
advanced coatings and metal formulations markets, today announced
that its portfolio company, MesoCoat Inc., has been recognized by
Inc. Magazine as one of the fastest-growing companies in the United
States and has been ranked 15th in the top 100 fastest-growing
manufacturing companies in the United States on the annual Inc.
500|5000 list.
"Our technologies, solutions and potential have been recognized
by some of the world's most prestigious media organizations,
including The Wall Street Journal, Forbes and now Inc. Magazine.
This is our debut on the Inc. 500|5000 list of the nation's fastest
growing companies, and we expect to be one of the top companies on
this list within a couple of years. We have received a tremendous
amount of recognition and support for our innovative technologies
and are now entering a phase in which it is our turn to deliver on
their promise and potential," stated Abakan CEO Robert Miller.
MesoCoat develops, manufactures and markets advanced
nanocomposite materials and innovative fabricated metal products
through its revolutionary "long life" PComP™ family of coatings,
and its high-speed, large-area cladding technology, CermaClad™.
MesoCoat is now selling its PComP™ nanocomposite coating
materials and thermal spray coating services, which extend the life
of oilfield and industrial components by 3-80 times. In addition to
the revolutionary performance and cost breakthroughs offered by
PComP™, their ability to extend component life leads to significant
reduction in losses related to downtime and maintenance. MesoCoat
is currently undergoing a six fold production scale-up of its
PComP™ materials and is setting up a thermal spray coating facility
to serve the regional shale and oilfield equipment coating
market.
MesoCoat is also qualifying clad metal products, CermaClad™,
which is manufactured utilizing a high intensity plasma arc lamp to
rapidly melt, fuse and metallurgically bond corrosion-resistant
(CRA) and wear-resistant materials (WRA) to metal substrates,
including pipes. CermaClad™ addresses the increasing demand-supply
gap for corrosion resistant alloy (CRA) clad pipes, including the
huge demand for large-diameter and thick-walled CRA clad pipes,
which are extremely difficult to manufacture, inspect, reel and
install using existing technologies.
CermaClad™ is expected to bring significant improvement in
production times, quality, cost efficiencies and deepwater
installation of clad pipes in the rapidly growing $4 billion metal
cladding industry. MesoCoat recently commissioned its first clad
pipe manufacturing facility in Ohio to accelerate the qualification
of clad pipes for offshore applications and it intends to set up
two large-scale clad pipe manufacturing facilities in 2014 to
produce approximately 200 kilometers of 10-inch clad pipes
annually.
The 2013 Inc. 500|5000 award is ranked according to percentage
revenue growth for 2012 compared to 2009. To qualify, companies
must have been founded and be generating revenue by March 31, 2009,
and have revenue of no less than $2 million in 2012. Additionally,
companies must be U.S.-based, privately held, for profit and
independent. For complete results, visit
www.inc.com/inc5000/list/.
About Abakan Inc.
Abakan develops, manufactures, and markets advanced
nanocomposite materials, innovative fabricated metal
products and highly engineered metal composites for
applications in the oil and gas, petrochemical, mining, aerospace
and defense, energy, infrastructure and processing industries.
Abakan's technology portfolio currently
includes high-speed, large-area metal cladding
technology; long-life nanocomposite anti-corrosion and-wear
coating materials; and high-strength, lightweight metal
composites. Abakan's products have demonstrated longer life, higher
productivity and extremely high strength-to-weight ratios compared
to competing technologies. The Abakan group of companies has been
honored by The Wall Street Journal as the #1 Manufacturing
Innovation across the globe, by Pipeline Industries Guild as the
Top Subsea Pipeline Technology, by Forbes as the #1 Most
Promising Material Science Company in the United States and
has received numerous other trade, industry and technology awards
including five R&D 100 Awards and a Technology
Innovation Award from the National Institute of Standards and
Technology. Over $50 million has been invested in product
development and testing by federal agencies, national labs and
our companies in order to deliver products that offer improved
performance over the current state of art. Abakan has successfully
introduced its metal coatings for metal asset protection
and life extension in the oil and gas and mining industries, and is
currently focusing on the scale-up and commercialization of
its highly disruptive metal cladding products for the oil
and gas, oil sands, mining and chemical industries. Abakan
currently operates from multiple locations in United States and
Canada, and intends to expand global operations in South America,
Canada, the Middle East and the Asia-Pacific.
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 10-K and Form
10-Q. Abakan's public filings may be viewed at www.sec.gov.
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CONTACT: Abakan Inc.
Robert Miller, Chief Executive Officer
Phone: 786-206-5368
Email: robert.miller@abakaninc.com
www.abakaninc.com
Investor Relations
Mike Bowdoin
RedChip Companies for Abakan Inc.
407644-4256 ext. 110
mike@redchip.com
Media Inquiries
Tomi Maxted
Antenna Group for Abakan Inc.
201-465-8024
tmaxted@antennagroup.com