ALL: Press release yesterday. I haven't seen it on the net, but Joe Peters faxed me a copy this morning. Here's the gist of it, along with additional information from JP from a conversation with KK:
They've formed a new subsidiary, Matrix Tool, to handle a new product line. They've invented (using Lenox Xyloy) a new composite material that they can form into molds known as tools in the industry. The composite material and tool design (patent pending) has tremendous advantages over existing tools. Previously retooling an auto factory, for example, took months. Using the Matrix Tool system, called the Estalloy Tooling System, it can be done in DAYS, apparently. At least, individual tools, which previously took months to create, now can be made in days. MOREOVER, the Estalloy Tools are much better than previous ones -- more reliable, durable, tolerant of higher temperatures, etc. This industry is a $5B/year industry, and apparently KK thinks this division is going to be much bigger than they had previously imagined.
In the press release they announce the new tooling company and a $100,000 contract for production of automotive door panels using the tools. The contract is with an unspecified major manufacturer.
Looks like we should maybe double (or more) our original estimates on this company's potential!
Regards,
-DT |
