Metglas Celebrates $22.5 Million Expansion of Horry County Facility
Conway, SC - Thursday, September 17, 2009 - On Thursday, Metglas, Inc, a subsidiary of Hitachi Metals Inc. and world leader in amorphous metals, celebrated its recent operations expansion of its $22.5 million capital investment that is expected to create 25 new jobs over the next three years. Elected officials, delegates and business leaders attended the celebration and dedication.
Metglas, located within the Atlantic Industrial Center in Conway, is the world pioneer in the development and commercialization of amorphous metal. Metglas currently exports more than 90% of the materials manufactured in the Conway plant for applications that include transformers, medical equipment, automotive emission reduction and anti-theft devices.
Amorphous metal distribution transformers are the globally accepted method of maximizing electricity distribution energy efficiency and minimizing greenhouse gas emissions from generation while providing measurable economic value to utilities. The October 2007 US Department of Energy regulation Energy Conservation Program for Commercial Equipment: Distribution Transformers Energy Conservation Standards, effective January 1, 2010, mandates energy efficiency that is easily achievable with Metglas amorphous electrical steel.
"Hitachi Metals believes that Metglas' amorphous metal products will help lead the way toward sustainable growth for the company as a whole. But more importantly, we are excited that Metglas' products are environmentally friendly and contributing to global energy savings. As a company, we support the United States' renewed commitment to forward-thinking energy policies, including the Department of Energy's new regulations regarding transformer efficiency. With Metglas' decision to invest in this new line- expanding production capacity and creating new jobs here in Horry County - we believe we are well-positioned to take advantage of these truly exciting developments," stated Hironori Nakanishi, president of Hitachi Metals.
"This expansion will allow Metglas to better serve the electricity transmission and distribution market by allowing for the manufacture of more ultra-efficient Metglas-based transformers. Both utilities and electricity consumers will benefit by saving money over the life of the transformer due to lower energy losses" says Dave Millure, Senior Vice President of Sales and Marketing at Metglas, Inc. "A significant share of the new transformers in India, China and other Asian countries already include Metglas. Now, with the ability to supply more to the Americas and European markets, the entire world will be able to take advantage of this important technology."
The expansion of the casting operations at the Conway facility included the installation of the largest amorphous metals power casting line in the world. This casting line will cast ribbon which will be made into the most energy efficient distribution transformers worldwide. The expansion will increase Metglas' electrical steel for transformers by over 50% allowing the company to better supply the growing North and South American markets with energy efficient solutions to electricity distribution.
"This investment in eco-friendly Metglas further demonstrates Hitachi Metals' overarching desire to provide solutions to the world that lower greenhouse gas emissions in a cost effective manner for customers." says Dodd Smith, President and Chief Operating Officer, Metglas, Inc.
"Metglas stands ready to work with transformer makers to ensure that they make the best use of the extraordinary properties that Metglas provides. We also look forward to any opportunity to talk with utilities to explain the value that a Metglas-based transformer can bring to them and their customers." says Millure.
About METGLAS® Inc.
METGLAS® Inc. is the world's leading producer of amorphous metal ribbon and components used in the production of electrical distribution transformers, high frequency magnetic components for power electronics, material for anti-theft tags, brazing alloys, and solder. Based on technology developed at Metglas,Inc. (then AlliedSignal) research facilities in Morristown, New Jersey, the unit began developing amorphous metals in 1970.
Amorphous Metals, also known as metallic glass alloys, differ from traditional metals in that they have a non-crystalline structure and possess unique physical and magnetic properties that combine strength and hardness with flexibility and toughness. Key Products include the following: METGLAS®, Amorphous Metal, Glassy Metal, Metallic Glass, Transformer Core Alloys, Distribution Transformer Cores, METGLAS® High Frequency Cores including the MAGNAPERM®, MICROLITE®, MICROLITE® FORMS; and POWERLITE®; product lines, METGLAS® Brazing foil, and Specialty Products.
