ARENDAL, NO / SHERBROOKE, QC. 19 October 2023 - Tekna (OSE: TEKNA), a world-leading provider of advanced materials and plasma systems to industry, is pleased to announce another significant order valued at CAD 2.9 million for titanium powder for metal injection molding.
The order involves the supply of titanium powder applied for metal injection molding (MIM) to a premier Tier 1 component manufacturer based in Asia. This specific grade of titanium is particularly well suited for MIM. The customer will utilize the powder for mass-producing sub-components, including digital watch cases and dials, designed for personal electronic devices. Deliveries for this contract are scheduled for 2024. A similar order, valued at CAD 1.7 million, was received from the same customer in May 2023.
"This order is for material consisting of the smaller particles from our existing powder production, which is readily available in our inventory. It plays an important role in our strategy to secure sales of Tekna’s entire production capacity and aligns with our ambitious growth objectives," said Luc Dionne, CEO of Tekna. He further added: “We are proud to be a part of this innovative manufacturing process and look forward to provide support to this customer in its manufacturing requirements”.
Rémy Pontone, VP Sales and Marketing explains: “Metal powder production processes naturally yield a wide distribution of particle sizes. These powders are subsequently separated into different cut sizes, each becoming a different product. Traditionally in the industry some cut sizes have been considered of limited use and even discarded as waste. Through collaborative efforts with our customers, we have successfully qualified this smaller cut size for MIM, leading to improved resource efficiency, heightened sales yield and a substantial increase in market share within the consumer electronics components industry*”.
MIM is a manufacturing process that involves blending fine metal powders with polymer binder material, forming a feedstock that is subsequently injected into a mold and then sintered into a desired shape. This process offers several benefits, including the capability to swiftly manufacture complex shapes with a high degree of accuracy while using considerably less raw material compared to traditional machining.
*Tekna sells additive material into the consumer electronics market; this is to be distinguished from its endeavours to enter the Microelectronics (“MLCC”) segment with nano materials.
Disclosure regulation
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
Contacts
Arina van Oost
Investor Relations | VP Corporate Strategic Development & Innovation
Tel: +1 438 885 6330
+33670115190
Arina.vanoost@tekna.com
About Tekna
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.
For more information, please visit our website - https://www.tekna.com
