CVD Announces Expansion Plans for Tantaline® in US
CENTRAL ISLIP, N.Y., (Business Wire) – January 30, 2017 - CVD Equipment Corporation (NASDAQ: CVV), a leading provider of chemical vapor deposition systems, announced today that its CVD Materials Corporation subsidiary plans to open a US facility for expansion of the corrosion resistant coating services currently offered through its Tantaline CVD ApS subsidiary in Nordborg, Denmark. Tantaline A/S was originally founded in 2007 as a spin off from The Danfoss Group and is an established leader in the commercialization of tantalum-treated parts for corrosion resistance. CVD acquired the assets and IP of Tantaline A/S in December 2016 and established in Nordborg a new and wholly-owned CVD subsidiary operating under the name Tantaline CVD ApS (“Tantaline®”).
This innovative tantalum chemical vapor coating technology, called Tantaline® treatment, is used to create a tantalum alloy surface on high performance parts including valves, fittings, autoclaves, process chambers, flow reactors, fasteners, mixers, flowmeters, and medical devices, as well as other parts that are prone to corrosion in harsh environments. A broad range of industries including chemical processing, oil & gas, mining, pharmaceutical, and medical use these parts. Tantaline® treated parts outperform most high priced specialty alloys and perform nearly at the level of solid tantalum parts in hot corrosive acidic environments (>150° C) such as those exposed to sulfuric, nitric, and hydrochloric acids as part of their production process. Tantaline® treatment therefore provides corrosion resistance at a much lower cost than solid tantalum parts.
Leonard Rosenbaum, President and CEO stated “We are extremely pleased with the pace of integration and early performance of Tantaline CVD ApS. This planned expansion will further CVD’s corrosion resistant technology and applications base and provide additional services and capabilities to new and existing customers. We are now considering where in the US to locate the new facility. Our equipment know-how and proven ability to scale up deposition processes will be leveraged into offering high value added materials, as well as our traditional products and services to our current and new customers. This is the first step in our combined organic and acquisition growth initiative for 2017.”
About CVD Equipment Corporation
CVD Equipment Corporation (NASDAQ: CVV) designs, develops, and manufactures a broad range of chemical vapor deposition, gas control, and other state-of-the-art equipment and process solutions used to develop and manufacture materials and coatings for research and industrial applications. This equipment is used by our customers to research, design, and manufacture these materials or coatings for aerospace engine components, medical implants, semiconductors, solar cells, smart glass, carbon nanotubes, nanowires, LEDs, MEMS, and other applications. Through CVD Materials Corporation and our application laboratory, we provide material coatings, process development support, and process startup assistance with the focus on enabling tomorrow’s technologies™.
Tantaline® is a producer of surface alloys for corrosion resistance in harsh environments. Through its innovative tantalum surface alloy technology, Tantaline® delivers the most corrosion resistant coating that is commercially available today. With superior corrosion performance and affordability compared to nickel alloys, titanium, and zirconium metals, Tantaline® helps businesses, ranging from global manufacturers to laboratories, reduce costs, increase productivity, and improve safety. Tantaline®`s coating expertise is applicable in industries such as chemical processing, mining, oil & gas, energy, and medical industries. Additional information can be found at www.tantaline.com
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by CVD Equipment Corporation) contains statements that are forward-looking. All statements other than statements of historical fact are hereby identified as “forward-looking statements, “as such term is defined in Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward looking information involves a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those discussed or anticipated by management. Potential risks and uncertainties include, among other factors, conditions, success of CVD Equipment Corporation’s growth and sales strategies, the possibility of customer changes in delivery schedules, cancellation of orders, potential delays in product shipments, delays in obtaining inventory parts from suppliers and failure to satisfy customer acceptance requirements.
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