ANM advanced magnesium limited

This is going to slowly build. With patience this could really...

  1. 6,931 Posts.
    This is going to slowly build. With patience this could really pay off.

    Regards

    ps I hold.


    Advanced Magnesium announces another development project for
    AM-lite® with Italian Group, Walmec
    Advanced Magnesium Limited is pleased to announce its latest commercial relationship with the
    Italian Group Walmec spa to develop new applications for its new proprietary magnesium alloy, AMlite
    ®.
    Walmec has signed a contract with AMT and has placed its first order for one container (20 tonnes) to
    be delivered in June, 2006.
    Walmec’s main business is to supply decoratively finished diecast components for use in spray guns,
    power tools, sporting goods, furniture fittings and hardware. Walmec plans to progressively introduce
    new products made from AM-lite over the next 12 months and estimates that annual production will
    grow to about 240 tonnes per annum.
    Subject to a successful trial process, deliveries of AM-lite® will commence at the rate of about one
    container (approx. 20 tonnes) per month taking the current cumulative total of orders for AM-lite®
    through the 500 tonnes p.a. total targeted by management at the half year.
    Following the announcement of a joint-venture agreement with MacDermid, announced to the ASX on
    2 May, a number of new trials have also been initiated at other plants in Europe and Asia. Mr Ian
    Hartnell, CEO of Advanced Magnesium Technologies commented that “the interest in AM-lite® as a
    replacement material for components currently made from zinc, aluminium, plastic and the existing
    magnesium alloy AZ91, continues to grow. AMT is working on a number of new projects and
    anticipates making further announcements in the coming months.”
    For further information on the Walmec Group, please go to their web site at www.walmec.com. For an
    insight into their AM-lite® development projects, go to their special website at www.am-project.it
    (Engish version).
 
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