MAYFIELD HEIGHTS, Ohio--(BUSINESS WIRE)--
Materion Corporation (NYSE: MTRN) announced today that it is a founding
member of the American Lightweight Materials Manufacturing Innovation
Institute (ALMMII), the newest center in the President's National
Network of Manufacturing Innovation. Introduced recently at a White
House event, ALMMII will develop advanced lightweight metal
manufacturing technology for transfer to the industrial sector,
especially automotive, aerospace, energy and defense.
ALMMII is structured as a public-private partnership led by the
Columbus, Ohio-based nonprofit EWI and The Ohio State University, along
with the University of Michigan. The Institute is being funded by $70
million from the Department of Defense matched by $78 million from the
consortium partners. The private sector funding includes in-kind
contributions of research and technical services. The Institute will
have its headquarters in southeast Michigan.
As a founding member, Materion joins some 60 manufacturing companies,
universities, research institutions and industry associations focused on
the total value chain for lightweight materials - development,
qualification, optimized use, and commercialization of affordable
lightweight structures for defense and commercial requirements.
"We are proud to contribute our expertise in lightweight materials to
the consortium," said Richard J. Hipple, Chairman, President and CEO of
Materion. "With our copper and nickel-based alloys, metal matrix
composites, clad metal systems, and bulk metallic glass alloys, we
believe we bring a unique portfolio and skill set to the Institute. We
look forward to working with our new ALMMII partners in launching this
initiative in support of lightweight metals technologies."
Lawrence Brown, executive director of ALMMII, said, "We are pleased to
have Materion as a launch partner on our team. Materion brings a wealth
of experience in the design and production of high-performance
lightweight alloys and specialty materials that will complement the
strengths of other team members.
"The goal of the Institute is to expand the market for and create new
consumers of products and systems that utilize lightweight,
high-performing materials by removing barriers to their manufacture,"
said Brown. "I am confident Materion will be an important contributor as
we pursue this goal."
Materion Corporation is headquartered in Mayfield Heights, Ohio. The
Company, through its wholly owned subsidiaries, supplies highly
engineered advanced enabling materials to global markets. Products
include precious and non-precious specialty metals, inorganic chemicals
and powders, specialty coatings, specialty engineered beryllium and
non-beryllium alloys, beryllium and beryllium composites, and engineered
clad and plated metal systems.
Materion Corporation
Investor Contact:
Michael
C. Hasychak, 216-383-6823
mike.hasychak@materion.com
or
Media
Contact:
Patrick S. Carpenter, 216-383-6835
patrick.carpenter@materion.com
or
http://www.materion.com
Mayfield
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Source: Materion Corporation
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