MAASTRICHT, THE NETHERLANDS - Surface Engineered Products, a subsidiary of The Westaim Corporation, today announced the opening and staffing of its European office and the commencement of its European operations. The announcement comes as SEP hosts its first ever Anti-Coking Symposium for European Ethylene producers.
"Ramping up our European presence is the next step in consolidating our leadership position in the provision of anti-coking coatings to the global Ethylene industry," said Ted Redmond President of Surface Engineered Products. "CoatAlloyTM coatings are the largest selling anti-coking coatings in the Ethylene industry. We have already gained ground in Europe through our sale last year to BASF. Now we are building a world wide network to support our customers"
The office will be headed by Mr. Roland Hendriks, who has been appointed European Sales Manager for Surface Engineered Products. Mr. Hendriks has over 15 years of experience in the Petrochemicals and Coatings business.
Although the European-based operations are just being established, SEP has already generated sales in Europe. In February, 1999, SEP announced the receipt of a full furnace order for the installation of its anti-coking technology in BASF AG’s ethylene cracker in Ludwigshafen, Germany, site of the world’s largest petrochemical complex. The coated furnace has been operational now for 8 months.
“Roland has worked extensively with petrochemical producers in this market and brings the knowledge and experience we were looking for to service our European customers and build on our leadership position in the region,” says SEP’s Vice President of Customer Service, Marketing and Sales, John Page. “The opening of our European Office demonstrates our commitment to our European customers,” said Page.
At the European Anti-Coking Symposium, Surface Engineered Products provided further details on its next generation anti-coking coating, CoatAlloyTM-1100. European ethylene producers primarily use Naphtha feedstock in their furnaces, which often reach end of run temperatures of 1100°C. CoatAlloyTM-1100 has been specifically designed for such high temperature furnaces. The symposium held in Maastricht, The Netherlands attracted personnel from all the major ethylene producers in Europe.
“Other coatings cannot withstand the temperatures that CoatAlloyTM 1100 can and this is especially important in Naphtha cracking," said Redmond. “Our European customers are very interested not only in our technology but in the excellent commercial furnace performance data, which we are presenting today at our Anti-Coking Symposium.”
Among those presenting at the symposium was Equistar Chemicals’ Operations Manager for their La Porte, Texas facility, Mr. Matt Frey. Also of significant interest to European producers was the release of Naphtha feedstock results for CoatAlloyTM coatings in BASF’s Ludwigshafen plant in Germany.
“Releasing the first commercial results from a full coated Naphtha furnace is key to our symposium because so many European producers use Naphtha feedstocks,” notes Page. “The positive results from our commercial installations that we are presenting to the industry here in Maastricht really demonstrates that CoatAlloyTM coatings are adding value to our customers’ operations.”
About Surface Engineered Products
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 coating product, sold under the brand CoatAlloyTM, targets the ethylene industry, which loses $2 billion in annual production due to the build-up of coke (carbon) in ethylene furnace tubes.
CoatAlloyTM coatings for tubes and fittings reduce the rate of coking in ethylene pyrolysis furnace tubes thereby increasing run lengths by 2 to 5 times. Lower coking rates also allow ethylene producers to increase furnace feed rates and raise ethylene yield resulting in increases in ethylene plant throughput of up to 15 per cent. This leads to higher revenues, lower unit-production costs and overall increased profitability.
About The Westaim Corporation
The Westaim Corporation is a technology incubator that launches exceptional technologies into the marketplace. In addition to Surface Engineered Products, its technology investments include Westaim Biomedical Corp., which has developed an infection control technology for use in the treatment of wounds, iFire Technology Inc., which has developed a revolutionary low-cost flat panel display, and Savvion, a leader in e-business management software. Westaim’s common shares are listed on Nasdaq under the symbol WEDX and on the Toronto Stock Exchange under the trading symbol WED.
*CoatAlloy is a trademark of Surface Engineered Products Corp.
For European sales, contact:
Roland Hendriks
Surface Engineered Products, B.V.
+31-(0)78-6157954
http://www.surfaceengineered.com
rhendriks@westaim.com
Industry trades and global sales, contact:
Brandy Luedemann
Surface Engineered Products
+1 (780) 431-4116
http://www.surfaceengineered.com
coatalloy@surfaceengineered.com
This news release may contain forward-looking statements. These statements are based on current expectations that are subject to risks and uncertainties, and the Company can give no assurance that these expectations are correct. Various factors could cause actual results to differ materially from those projected in such statements, including financial considerations and those predicting the timing and market acceptance of future products. The Company disclaims any intention or obligations to revise forward-looking statements whether as a result of new information, future developments or otherwise. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement.
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