MARK...
Wake up...time to hit the snooze alarm...
This is the big one...
Three U.S. Companies to Supply Materials for Particle
Accelerator in Europe
WASHINGTON, Sept. 15 /PRNewswire/ -- In the largest purchase of
superconducting materials in the United States, the U.S. Department of Energy
today announced that three companies, Ormet Wah Chang of Albany, Ore., IGC
Advanced Superconductors, a division of Intermagnetics General Corp
(Amex: IMG), located in Waterbury, Conn., and Cabot Performance Materials of
Boyertown, Pa., will provide materials to be used in constructing
superconducting magnets for the Large Hadron Collider. The collider will be
the world's most powerful particle accelerator when completed in 2005 at
the European Laboratory for Particle Physics, known as CERN, located
near Geneva, Switzerland.
"These contracts with U.S. businesses demonstrate the tangible
benefits of U.S. participation in this exciting international
scientific collaboration," said Secretary of Energy Bill Richardson.
Last December in Washington, D.C., U.S. and CERN officials signed an
agreement formally committing the United States to participate in the
high energy physics project.
Ormet Wah Chang and Cabot Performance Materials will supply a total of
363.4 metric tons of niobium-titanium alloy and 23 metric tons of pure niobium
sheet metal. Ormet Wah Chang contracts total $31.9 million. Under a
$16.4 million contract, Intermagnetics General will provide more than 360
miles (586 kilometers) of copper-stabilized, niobium-titanium superconducting
cable. Final negotiations on the Cabot contract have not been completed. The
value of the contracts with the three companies totals an estimated $62
million.
CERN will make and administer the awards with funding provided by the
Department of Energy. The Department of Energy will provide the funding over
five to seven years as the companies supply the materials. The awards
represent the United States' first "in-kind" contribution under the agreement,
which commits the United States to $531 million in goods and services for the
Large Hadron Collider -- $200 million for the accelerator and $331 million for
its detectors.
The Large Hadron Collider is being built inside an existing 16-mile
(27-km) circumference accelerator tunnel that crosses the French-Swiss border
near Geneva. In the collider, radio- frequency energy will accelerate two
beams of protons to nearly the speed of light. Some 1,260 powerful
superconducting magnets will guide the counter-rotating beams to collision
points around the accelerator. The magnets are known as superconducting
because, at very low temperatures, their resistance to the passage of electric
current essentially disappears and large currents can flow easily. The
niobium-titanium magnets can be operated at much lower cost than conventional
"warm" magnets because the only energy consumption is that needed to
refrigerate the magnets. Conventional copper magnets operating at room
temperature have a high resistance to the passage of electric current and
require continuous energy to maintain their magnetic fields.
The Large Hadron Collider's particle detectors will record the shower of
subatomic particles from the proton collisions, which will occur at the rate
of one billion per second. Scientists from around the world, including
550 U.S. scientists in 25 states, will then use computers to study the most
interesting collisions in order to understand better the fundamental nature of
matter and energy. The Large Hadron Collider will give scientists tools to
address the persistent mysteries of matter and energy such as: What gives the
particles of matter their mass? Why is there more matter than antimatter in
the universe? What is the dark matter that accounts for so much of the
universe that we cannot see?
SOURCE U.S. Department of Energy
-0- 09/15/98
/CONTACT: Jeff Sherwood of U.S. DOE, 202-586-5806; or Neil Calder of
CERN, 011-41-22-76-74101/
(IMG)
CO: Intermagnetics General Corp; U.S. Department of Energy; IGC Advanced
Superconductors; Ormet Wah Chang; Cabot Performance Materials
ST: District of Columbia; Switzerland
IN: CPR
SU:
CB-CS
-- CGTU050 --
3171 09/15/98 13:55 EDT prnewswire.com
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Copyright 1998, PR Newswire
FActors that had been against stock...
year end flat at .22
small caps getting pummelled
Now small caps starting to recover....
16 million dollar order...
possible upside earnings alert for this quarter in a matter of days...
also...
Maqua upgrade starts next week
MARV CERMAK Staff writer
367 Words
2589 Characters
09/04/98
Times Union (Albany, NY)
ONE STAR
B7
(Copyright 1998)
* Building to be used by Intermagnetics General of Latham
Schenectady Construction to upgrade the long-vacant Maqua
* Printing Co. building for use by Intermagnetics General Corp. of
Latham is expected to be in full swing next week.
James Copabianco, a spokesman for Bast Hatfield Construction
Inc., said Thursday the Duane Avenue building should be ready for
partial occupancy on Nov. 30.
* Carl Rosner, Intermagnetics' chief executiveofficer, said
initially about 50 people would be hired at the plant to
manufacture a substitute for Freon, which is used in air
conditioning units. He said he expects the work force will grow to
about 150, but he did not have an immediate timetable for hiring.
Vladimir "Wally" Spigel, owner and developer of the 90-year-old
fortress-style complex, had originally hoped to have the building
rehabilitated by midsummer.
However, Copabianco said the project was delayed awaiting final
engineering analysis and final architectural design. "There were a
lot of details to work out because of the original need to come up
with a conceptual budget to fast track the project concept for
* Intermagnetics," he said.
The firm had been considering other locations in the nation for
the operation before Spigel and Rosner reached agreement on the
Schenectady site.
"There is a final architectural meeting Tuesday. The project has
finally come together so we hope to go full-bore there by the
middle of next week," Copabianco said.
He said Bast Hatfield had assigned two five-man crews to work at
the building off and on during a two-month period earlier this
year. He said the crews removed tons of concrete, piping and
partitions from the building interior.
"We'll soon be doing extensive interior and exterior
renovations. Mr. Spigel has invested a considerable amount of money
to get this far," Copabianco said.
He said the first floor would be ready for occupancy at the end
of November. He said there is no exact timetable for completion of
other floors in the four-story building. Spigel said he is still
seeking another tenant to occupy a portion of the structure.
The project has received about $1 million in various government
subsidies including a $500,000 state Assembly grant; $350,000 of
federal Enterprise Community funds and a $200,000 low-interest city
loan.
I0607 * End of document.
also their HTS power leads for CERN are stated to be worth an additional 8-10 million contract...
SUPERCONDUCTORS: Superconducting power leads cut costs of cooling
213 Words
1727 Characters
09/01/98
Advanced Ceramics Report
Copyright 1998 Information Access Company. All rights reserved.
* Intermagnetics General Corp (IMG) says it has designed and delivered
sets of power leads made from high temperature superconductors (HTS)
which are capable of passing a current of more than 5000 A. The leads
were delivered to the Fermi National Accelerator Laboratory in
Illinois, USA. In order to keep them cool, the HTS leads require as
little as 10% of the amount of liquid helium as is needed by
conventional copper versions, IMG claims. The leads are suitable for
such advanced scientific applications as particle accelerators and
colliders. For instance, a key potential customer is the European
laboratory CERN, located in Switzerland, where the Large Hadron
Collider project is being built. IMG already has a contract with CERN
to manufacture prototype leads capable of carrying 12 000 A for this
project and expects to be involved in other phases of the programme.
More than 3000 leads are expected to be built for CERN alone and the
company estimates potential sales of the product to be US$8-12 million
over four years, commencing in the year 2000. Other potential uses
include any equipment using cryo-cooled and superconducting magnets.
For further information, contact: Carl H. Rosner, President,
* Intermagnetics General Corp, 450 Old Niskayuna Road, PO Box 461,
Latham, NY 12110-0461, USA; tel: +1-518-782-1122; Internet:
igc.com
I0607 * End of document.
this stock is undervalued...
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