Dynamic Materials' Explosive Metalworking Business Receives $11 Million Contract for Work on Refinery Project in Eastern Europe
May 24 2006 - 9:00AM
PR Newswire (US)
Order Represents Largest Contract in Company History BOULDER,
Colo., May 24 /PRNewswire-FirstCall/ -- Dynamic Materials
Corporation (DMC) (NASDAQ:BOOM), the world's leading provider of
explosion-welded clad metal plates and associated services, today
announced that its Explosive Metalworking business has received an
$11 million contract calling for the delivery of clad metal plates
for use in a major refinery project in Eastern Europe. The plates,
which will be used in the production of pressure vessels, will be
produced by DMC's France-based Nobelclad operations. The majority
of the order is scheduled for delivery during the fourth quarter of
2006. Yvon Cariou, president and CEO of DMC, said, "This contract
is another indication of the significant capital expenditures being
made throughout the worldwide energy industry, as producers work to
expand capacity. Clad metals play an important role in the highly
corrosive refining process, and we are benefiting from a
significant, broad-based increase in demand. This order stands as
the largest contract Dynamic Materials has ever received." About
Dynamic Materials Corporation Based in Boulder, Colorado, Dynamic
Materials Corporation is a leading international metalworking
company. Its products, which are typically used in industrial
capital projects, include explosion-welded clad metal plates and
other metal fabrications for use in a variety of industries,
including upstream oil and gas, oil refinery, petrochemicals,
hydrometallurgy, aluminum production, shipbuilding, power
generation, industrial refrigeration and similar industries. The
company operates two business segments: Explosive Metalworking,
which uses proprietary explosive processes to fuse different metals
and alloys, and AMK Welding, which utilizes various technologies to
weld components for use in power-generation turbines, as well as
commercial and military jet engines. For more information, visit
the company's website at http://www.dynamicmaterials.com/. Except
for the historical information contained herein, this news release
contains forward-looking statements that involve risks and
uncertainties including, but not limited to, the following: our
ability to obtain new contracts at attractive prices; the size and
timing of customer orders and shipment; fluctuations in customer
demand; changes to customer orders; competitive factors; the timely
completion of contracts; the timing and size of expenditures; the
timely receipt of government approvals and permits; the adequacy of
local labor supplies at our facilities; current or future limits on
manufacturing capacity at our various operations; the availability
and cost of funds; and general economic conditions, both domestic
and foreign, impacting our business and the business of the
end-market users we serve; as well as the other risks detailed from
time to time in the company's SEC reports, including the report on
Form 10-K for the year ended December 31, 2005. DATASOURCE: Dynamic
Materials Corporation CONTACT: Geoff High of Pfeiffer High Investor
Relations, Inc., +1-303-393-7044, for Dynamic Materials Corporation
Web site: http://www.dynamicmaterials.com/
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