Ceradyne, Inc. Receives Initial Order for Spent Nuclear Fuel Storage Components
September 06 2006 - 7:30AM
Business Wire
Ceradyne, Inc. (Company) (Nasdaq:CRDN) received its initial order
for boron carbide/aluminum metal matrix composite (MMC) components
from Transnuclear for more than $1.5 million. The MMC components
are for dry storage of spent nuclear fuel and are scheduled for
delivery by the end of second-quarter 2007. Ceradyne Inc.'s new
subsidiary, Ceradyne Canada, in Chicoutimi, Quebec, will
manufacture the components from MMC ingots, which will be produced
by Alcan Inc. utilizing its patented MMC casting process. The
components will be integrated into Transnuclear's NUHOMS(R)
Systems, which are used by U.S. nuclear-powered utilities.
Transnuclear is a wholly owned U.S. division of Areva Group, a
French-based energy company offering technological solutions
worldwide for nuclear power generation and electricity transmission
and distribution. For 2005 Areva reported revenues of approximately
EUR 10.1 billion, or approximately $13 billion. Michael Kraft,
Ceradyne vice president of sales, marketing and business
development, commented: "We are very pleased with this first order,
as it confirms the viability of our business strategy with Alcan to
not only supply Boral(R) and boron carbide/aluminum MMCs, but also
control all the production steps in the value stream, from the
boron carbide powder to final delivery of these critical
components. This vertically integrated capability makes Ceradyne
unique and provides superior value to end-customers in the nuclear
waste containment market. "Utilizing this capability, and in
partnership with Transnuclear, we engineered an MMC that meets the
rigorous specifications of their system," Kraft continued. "We
believe in building long-term relationships with our customers and
view this as an excellent start in building a major presence in
this market. Furthermore, our earlier announcements about entering
the MMC market with advanced materials, technical support, and
manufacturing capabilities in partnership with Alcan have been
well-received by the utilities, spent-fuel storage original
equipment manufacturers (OEMs), and fabricators. We look forward to
expanding our line of MMCs and Boral(R) for neutron absorption in
both wet and dry storage applications." Ceradyne develops,
manufactures and markets advanced technical ceramic products and
components for defense, industrial, automotive/diesel, and
commercial applications. Additional information about the Company
can be found at www.ceradyne.com. This press release contains
forward-looking statements regarding future events and the future
performance of Ceradyne that involve risks and uncertainties that
could cause actual results to differ materially from those
projected. Words such as "anticipates," "believes," "plans,"
"expects," "intends," "future," and similar expressions are
intended to identify forward-looking statements. These risks and
uncertainties are described in the Company's Annual Report on Form
10-K for the fiscal year ended December 31, 2005, and its Quarterly
Reports on Form 10-Q, as filed with the U.S. Securities and
Exchange Commission.
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