The American Materials & Technologies Corp. (AMT) Acquires Leading Composite
Graphite Golf Shaft Manufacturer, Grafalloy
PR Newswire, Wednesday, March 05, 1997 at 09:31
L0S ANGELES, March 5 /PRNewswire/ -- The American Materials & Technologies
Corp. (Nasdaq: AMTK), added $11 million in profitable revenues by announcing
the acquisition of Grafalloy, a San Diego, California, company with twenty-
four years experience in the development and manufacture of graphite composite
golf shafts. Grafalloy shafts are widely used on the PGA Tours. The company
has established a strong reputation as a leader and innovator in the golf
equipment industry. Grafalloy's products are distributed in twenty-six
countries. Customers include Tommy Armour, Titleist, Callaway, Ray Cook and
Golfsmith.
"Graphite golf shaft growth is projected to increase at double digit rates
for the next several years and this acquisition well positions AMT to
participate in that growth," said Paul Pendorf, President of AMT. He
continued, "We plan to marry Culver City Composite's technology with the
recently acquired U.K. based Carbon Design's design and fabrication
capabilities to further expand Grafalloy's long established market position as
an innovator in golf shafts. Financially this acquisition increases our
revenue base by almost 50%, and adds immediately to our earnings in 1977.
This acquisition provides AMT with important access to the rapidly increasing
sporting goods and recreation markets."
Bill Gerhart, President of Grafalloy, noted that ... "AMT's acquisition of
Grafalloy will enhance Grafalloy's competitive position in the market. They
will place increased resources as well as additional proprietary technology at
our disposal. We look forward to continued strong growth in all of our
markets."
The American Materials & Technologies Corporation is a publicly held
company which focuses on the global composites industry. AMT has a
complementary strategy of rapid growth through internal product development
and appropriate acquisitions in the broader materials industry.
Except for the historical material contained herein, the matters discussed
in this press release are "forward looking statements" under the federal
securities laws. Actual results could differ materially from those forecasts
and projections and there can be no assurance that such estimates of future
results will be achieved. Factors that may cause results to vary from
projection include the timely availability and market acceptance of new
products offered by AMT, the impact of competitive products and prices in the
advanced composites industry, and AMT's ability to manage growth; other such
factors are identified in the Risk Factors section of AMT's Prospectus filed
with the Securities and Exchange Commission on December 27, 1996.
SOURCE American Materials & Technologies Corp.
-0- 03/05/97
/CONTACT: Paul W. Pendorf, President of The American Materials &
Technologies Corp., 310-841-5322; John Haviland, of Haviland Communications,
Inc., 619-752-9377/
Companies or Securities discussed in this article:
Symbol
Name
NASDAQ:AMTK
American Materials & Tech Corp
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