Diversification Strategy Will Expand Company's Capabilities and Generate New Market Opportunities
ANAHEIM, Calif., February 8, 2011 - Thixomat Technologies LLC has been established as the holding company for the Thixomat group of companies which includes Thixomat Inc., developer of the Thixomolding® injection molding process which converts magnesium alloys into precision parts; nanoMAG LLC, inventor of new lightweight, high-strength magnesium sheet technology; and Molded Magnesium Products LLC, a leading manufacturer of precision molded magnesium components. The new holding company is part of Thixomat's strategy to expand the successful Thixomat licensing business into closely related value-added products and manufacturing. The company made the announcement at the 2011 AeroCon show (Booth #4295) Feb. 8-10.
"We've been a global player in the magnesium business for more than 20 years and we are now embarking on an expanded role that is focused on manufacturing and new market opportunities," said Stephen LeBeau, president of Thixomat Inc. The company is focused on broadening its mission beyond the original technology transfer and licensing role. The new business strategy is to add value by becoming a manufacturer of specialty designed nano-structured materials using the company's proprietary nanoMAG Thixomolding Thermal Mechanical Process (TTMP) manufacturing system.
nanoMAG LLC is the developer of new lightweight, high-strength magnesium sheet which provides 200% higher strength and improved toughness over conventional magnesium, while also providing the strength of carbon steel sheet at one-fourth the weight. Until now, magnesium alloy sheet has been cost prohibitive, difficult to form, and limited in availability. nanoMAG's new material is targeted at lightweight applications in military vehicle armor, resorbable biomedical implants, and structural aerospace applications. The material has attracted broad interest in the military and biomedical field and the company has won considerable R&D funding from governmental agencies.
Meanwhile, Molded Magnesium Products LLC, a 50/50 joint venture of Mag-Tec Casting Corp., Jackson, Mich., and Thixomat Inc., uses "Thixomolding," Thixomat's magnesium molding process, to produce a range of components for the electronics, sporting goods, defense, and automotive markets. This novel one-step process produces net or near-net shape parts to tight tolerance with limited secondary operations.
LeBeau will remain as president and CEO of both Thixomat Inc. and nanoMAG LLC while Bill Wilson has been named general manager of Molded Magnesium Products LLC.
About nanoMAG LLC
nanoMAG LLC, based in Ann Arbor, Mich., is a subsidiary of Thixomat, Inc., a company with more than 20 years experience in the research, development, and marketing of technologies for the production of products utilizing magnesium alloys. nanoMAG supplies precision magnesium sheet and short-run specialty alloys to diverse industries including automotive, aerospace, biomedical, and military. nanoMAGmagnesium sheet provides 200% higher strength and improved toughness over conventional magnesium, while also providing the strength of carbon steel sheet at one-fourth the weight. For more information, visit www.nanoMAG.us.
About Thixomat Inc.
Thixomat Inc., based in Ann Arbor, Mich., is the developer of the Thixmolding® process which produces injection molded products from magnesium stock. The process permits the manufacture of net or near-net shape parts requiring little finishing. There are more than 50 Thixomat licensees and more than 400 Thixomolding® machines have been sold worldwide. More information is available at www.thixomat.com.
About Molded Magnesium Products LLC
Molded Magnesium Products LLC (MMP) is a 50/50 joint venture of Mag-Tec Casting Corp., Jackson, Mich., and Thixomat Inc., Ann Arbor, Mich. The company is a leading manufacturer of precision molded magnesium components, using Thixomat's Thixomolding® injection molding process. These complex, tight-tolerance parts replace plastics, die cast, and tool plate for the industrial, military, sporting goods, electronics, automotive, and heavy equipment markets. MMP is a full-service provider of CNC machining, metal finishing, powder coating, wet painting, prototyping, and design and engineering services. For more information, visit www.mmpmg.com