[ BACK TO NEWS RELEASE MAIN MENU ] [ HOME ]FOR IMMEDIATE RELEASEALLIANCE TO SHIFT VANADIUM-ALUMINUM PRODUCTIONDANBURY, Connecticut, February 28, 2002 -- In an effort to better meet the critical-quality requirements of titanium producers, the strategic alliance between Strategic Minerals Corporation and International Specialty Alloys is moving the production of vanadium-aluminum alloys to a new state-of-the-art plant being built by International Specialty Alloys in New Castle, Pa. As a result, vanadium-aluminum production at the Niagara Falls, N.Y. plant of U.S. Vanadium Corporation, a Strategic Minerals subsidiary, was discontinued on February 28, 2002. When production begins at the New Castle plant, Strategic Minerals will have its Stratcor high-purity vanadium oxide converted into Stratcor vanadium-aluminum, meeting the highest quality and reliability requirements of the aerospace industry and the company's worldwide customers. Besides vanadium-aluminum, Strategic Minerals will market the other master alloys produced by International Specialty Alloys, allowing titanium producers to obtain all their master alloys from a single source. That includes customized products for use in titanium alloys under development. "With quality demands for master alloys constantly increasing, we needed to concentrate production in the most modern facilities available," said Hein Enslin, President of Strategic Minerals Corporation. "That is why we are shifting production to the new state-of-the-art facility being completed by International Specialty Alloys. Their production expertise will compliment our own strengths in vanadium feedstocks as well as the close working relationship we have with titanium producers worldwide." Mr. Enslin emphasized that Strategic Minerals had sufficient inventories of vanadium-aluminum to meet customer requirements while production from the International Specialty Alloys plant is being qualified for use in titanium alloys. The International Specialty Alloys plant is expected to start production in April 2002. Additionally, Mr. Enslin expressed regrets that the closing of vanadium-aluminum operations at Niagara Falls will result in a layoff of about 40 hourly and salaried employees. The Niagara Falls plant will continue to produce the vanadium halides used as catalysts by the chemical and petrochemical industries. Vanadium-aluminum is an alloy that strengthens titanium used in critical parts of aircraft. As a result, the alloy must meet rigid quality standards. February 28, 2002 For more information, contact
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