EDMONTON, ALBERTA, CANADA - Surface Engineered Products Corp., a subsidiary of The Westaim Corporation, today announced the signing of an order for CoatAlloyTM coated tubes with Equistar, the largest North American ethylene producer and the world’s third-largest ethylene producer.
“We are very excited about working with Equistar and demonstrating to them the potential of our product to deliver higher conversion and longer run lengths,” said Ted Redmond, President of Surface Engineered Products.
“This sale means that we have reached our 1999 milestone of having six of the world’s 10 largest ethylene producers as customers,” said Edward Maharajh, Vice-President of Sales and Marketing for Surface Engineered Products, Inc.
Surface Engineered Products develops, manufactures and markets proprietary products and services which reduce operating costs and increase productivity in high-severity operating environments found in the petrochemical and other process industries. Its first product, CoatAlloyTM coated tubes and fittings, targets the ethylene industry, which loses $2 billion in annual production due to the build-up of coke (carbon) in ethylene furnace tubes.
CoatAlloyTM coated tubes and fittings reduce the rate of coking in ethylene pyrolysis furnace tubes by up to 90 per cent and increase the throughput of ethylene plants by 2 to 8 per cent, leading to lower unit-production costs and increased profitability for ethylene producers.
The Westaim Corporation specializes in launching high-potential technologies into the marketplace. In addition to Surface Engineered Products, Westaim’s other technology businesses include: Westaim Biomedical Corp., which has developed an infection control technology for use in the treatment of wounds; and Westaim Advanced Display Technologies Inc., which is developing a revolutionary low-cost flat panel display. Westaim also operates three industrial businesses, which produce aerospace materials, coin blanks and chemical products. A TSE 300 company, Westaim’s common shares are listed on The Toronto Stock Exchange, The Alberta Stock Exchange and The Montreal Exchange under the trading symbol WED.
*CoatAlloy is a trademark of Surface Engineered Products Corp.
For more information, contact:
Tony Johnston
Senior Vice President, Corporate Affairs
(403) 234-3103
tjohnsto@westaim.com
website: www.westaim.com
e-mail: info@westaim.com
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