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Liquidmetal® Technologies Announces Agreement to Purchase Thermal Spray Assets for Coatings Business
LAKE FOREST, CA, April 06th, 2007 ----- Liquidmetal® Technologies, Inc. (OTC: LQMT) today announced an agreement to purchase the assets from an established thermal coating business in North America. The acquisition is expected to close in June of this year.
Larry Buffington, President and CEO of Liquidmetal Technologies commented, “With the growing number of opportunities in the power plant business, the Liquidmetal® Coatings complete line of revolutionary alloy products can now provide an even greater comprehensive solution to power plant needs worldwide through this acquisition. We are known for our unique and superior performing coating materials for the oil/gas drilling, coal fired boiler, and paper processing industries to name just a few. While the oil and gas industry is well served by excellent applicators of our materials, many of our end customers in other industries are asking for a turn key solution i.e. application of our materials. With the acquisition of the extensive list of assets, Liquidmetal Technologies is well positioned to serve a broad customer base in the Western Hemisphere.”
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About Liquidmetal® Technologies, Inc
Liquidmetal® Technologies, Inc. (www.liquidmetal.com)
is the leading developer, manufacturer, and marketer of products made from amorphous alloys. Amorphous alloys are unique materials that are characterized by a random atomic structure, in contrast to the crystalline atomic structure possessed by ordinary metals and alloys. Bulk Liquidmetal® alloys are two to three times stronger than commonly used titanium alloys, harder than tool steel, and relatively non-corrosive and wear resistant. Bulk Liquidmetal alloys can also be molded into precision net-shaped parts similar to plastics, resulting in intricate and sophisticated engineered designs. Liquidmetal Technologies is the first company to produce amorphous alloys in commercially viable bulk form, enabling significant improvements in products across a wide array of industries. The combination of a super alloy’s performance coupled with unique processing advantages positions Liquidmetal alloys for what the company believes will be
The Third RevolutionTM in material science.
This press release may contain “forward-looking statements” that involve risks and uncertainties, including statements regarding our plans, future events, objectives, expectations, forecasts, or assumptions. Any statement in this press release that is not a statement of historical fact is a forward-looking statement, and in some cases, words such as "believe," "estimate," "project," "expect," “intend,” “may," "anticipate," "plans," "seeks," and similar expressions identify forward-looking statements. These statements involve risks and uncertainties that could cause actual outcomes and results to differ materially from the anticipated outcomes or result, and undue reliance should not be placed on these statements. These risks and uncertainties may include: our limited operating history in developing and manufacturing products from bulk amorphous alloys; the adoption of our alloys by customers; the commercial success of our customer’s products; our ability to identify, develop, and commercialize new applications for our alloys; competition with suppliers of incumbent materials; the development of new materials that render our alloys obsolete; the ability to manage our anticipated growth; our limited direct experience in manufacturing bulk alloy products; scaling-up our manufacturing facilities; protecting our intellectual property; problems associated with manufacturing and selling our alloys outside of the United States; and other risks and uncertainties discussed in filings made with the Securities and Exchange Commission (including risks described in subsequent reports on Form 10-Q, Form 10-K, Form 8-K, and other filings). Liquidmetal Technologies disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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