Tekna announced today that it has received a major order from an undisclosed customer in Asia (hereafter the "Customer") for CAD 1.7 million of titanium powder. The first shipment of the material has been completed, and subsequent deliveries will continue until the end of 2023. The Customer will be using the powder in the process of metal injection molding to manufacture sub-components for personal electronic devices on a large scale.
"We are excited that we have achieved this significant milestone in one of our most promising market segments - consumer electronics. This is a rapidly growing sector with great potential for Tekna. We believe that this order is proof of the quality of our products and the strength of our brand," said Luc Dionne, CEO of Tekna.
The sub-components manufactured using metal injection molding by the Customer are supplied in the consumer electronics value chain to companies having a global reach. The growth potential for metal injection molding in the consumer electronics industry is significant, as it allows for the creation of smaller and more intricate components that can enhance the performance and functionality of electronic devices.
Metal injection molding is a manufacturing process that involves blending fine metal powders with polymer binder material to create a feedstock that is injected into a mold and later sintered into a desired shape. This process offers several benefits, including the ability to create complex shapes with high precision and an excellent surface finish. It is also a cost-effective alternative to traditional manufacturing methods such as machining or casting.
Tekna is proud to be a part of this innovative manufacturing process and looks forward to continuing to support the Customer and their manufacturing needs.
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
Arina van Oost
Investor Relations | VP Corporate Strategic Development & Innovation
Tel:+1 438 885 6330
About Tekna Holding ASA
Tekna is a world-leading provider of advanced materials to industry, headquartered in Sherbrooke, Canada.
Tekna produces high-purity metal powders for applications such as 3D printing in the aerospace, medical and automotive sectors, as well as optimized induction plasma systems for industrial research and production. With its unique, IP-protected plasma technology, the company is well positioned in the growing market for advanced nanomaterials within the electronics and batteries industries.
Building on 30 years of delivering excellence, Tekna is a global player recognized for its quality products and its commitment to its large base of multinational blue-chip customers. Tekna’s powder products increase productivity and enable more efficient use of materials, thereby paving the way towards a more resilient supply chain and circular economy.