Surface Engineered Products plant to increase employment to 200 by June 2000
EDMONTON, ALBERTA, CANADA - Surface Engineered Products Corp., a subsidiary of The Westaim Corporation, today announced that by June 30, 2000, it will triple the capacity of its Edmonton plant to meet strong demand from ethylene producers for its CoatAlloyTM anti-coking products.
When the expansion is fully operational Surface Engineered Products will employ a total of 200 people at the Edmonton plant.
“The decision to further expand our surface engineering plant stems from discussions with our customers about their upcoming re-tubing needs,” said Ted Redmond, President of Surface Engineered Products. “Adding this capacity will reduce our growing order backlog and will help us increase our market share at the fastest possible rate.”
Plant capacity was already planned to increase from 50,000 feet per year of 2-inch tubes to 66,000 feet per year by June 1999. With today’s announcement, the company will add an additional 100,000 feet per year of capacity, for a total of 166,000 feet per year by June 2000. At 166,000 feet per year, Surface Engineered Products will be capable of servicing seven per cent of the worldwide ethylene furnace tube market.
“This $12-million expansion will create up to 100 new jobs at our Edmonton plant by June 2000,” said Ed Koning, Vice-President of Engineering and Capital Projects.
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
|