Altair Sells Thermal Spray Product
CODY, Wyo., Jun 21, 2001 /PRNewswire via COMTEX/ -- Altair International Inc.
(Nasdaq: ALTI) subsidiary Altair Technologies, Inc. (www.altairtechnologies.com)
announces a sale of one of its high purity advanced nanostructured thermal spray
products to F.W. Gartner Thermal Spray Company. After extensive testing of
material from a variety of sources, F.W. Gartner selected Altair's product. It
tested significantly better than the thermal spray product currently used in
this application. Although the specific use of the nanostructured product is
confidential, Altair estimates annual sales for this single application will
approximate $200,000, representing Altair's initial entry into thermal spray
products.
"Thermal spray is potentially a very large market for nano materials because of
some unique and superior product performance characteristics attributable to
nano sized formulations," said Mr. Ken Lyon, president of Altair Technologies.
"Our commercial relationship with F.W. Gartner will enable us to accelerate our
introduction of products into this market place. Gartner is an aggressive
company with a good sustained growth record and an impressive list of
sophisticated customers for thermal coatings."
Altair first discussed specialized coatings with F.W. Gartner last September,
followed by a development program involving several formulations which were
tested by Gartner leading to the purchase agreement. The sale and testing
program are subject to a secrecy agreement between the parties which provides
for development of a variety of products for specialized applications. F.W.
Gartner has also agreed to purchase some development product for a different
application.
The F.W. Gartner Thermal Spraying Company is a nationally recognized supplier of
high quality thermal spray services and includes major combustion turbine
manufacturers in their customer list. The company has experienced growth of
around 20% for the past several years. Mr. Jimmy Walker, Gartner's production
manager said, "Our plan is to combine our recent investments with new products
of the future. Altair has a variety of development products that offer
opportunities for us."
Altair International owns a proprietary technology for making nanocrystalline
materials of unique quality, economically in large quantities. The company is
currently developing special nanomaterials with potential applications in fuel
cells, photo cells, advanced energy storage devices, thermal spray coatings,
catalysts, cosmetics, paints, semi-conductors, telecommunications and
environmental remediation. Altair holds mineral leases on a "world class"
titanium mineral sand deposit in Tennessee where the recently constructed pilot
plant is operational.
This press release may be deemed to contain certain forward-looking statements
with respect to Altair that are subject to risks and uncertainties that include,
but are not limited to, Altair's ability to obtain necessary capital,
performance and reliability of technology, market acceptance of products using
Altair technology, variance in anticipated production costs and unanticipated
effects of regulatory requirements related to the technology, as well as those
identified in the Company's press releases or discussed from time to time in the
Company's Securities and Exchange Commission filings. Actual results may vary
materially.
FOR MORE INFORMATION CONTACT: William P. Long, President of Altair International
Inc., 307-587-8245; or Paul Savageau of Savageau & Associates, 303-756-8045, for
Altair International Inc.
News releases and other information on Altair can be accessed at no charge at
Altair's website www.altairint.com
For technical information on Altair's nanoparticle operations visit our website
www.altairtechnologies.com
SOURCE Altair International Inc.
CONTACT: William P. Long, President of Altair International Inc.,
307-587-8245; or Paul Savageau of Savageau & Associates, 303-756-8045, for
Altair International Inc.
URL: altairtechnologies.com
altairint.com
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