ARC Group Worldwide Announces Investment in Veloxint CIF
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DELAND, FL / ACCESSWIRE / March 17, 2021 / ARC Group Worldwide, Inc. ("ARC" or the "Company"), in conjunction with its majority shareholder Quadrant Management, announce that they have entered into an ownership investment into Veloxint CIF ("Veloxint") to enhance the development and commercialization of the nanocrystalline metal alloy materials.
The agreement combines the 30-year powder metallurgy knowledge and sintering expertise at ARC with the cutting-edge nano-enabled powders produced by Veloxint. ARC has begun the process of testing and commercializing the use of the Veloxint powders for Metal Injection Molding ("MIM"). The unique nature of these materials combined with the complex geometry offered by MIM has the potential to allow for applications in a multitude of industries, including Aerospace, Medical, Consumer, Automotive, and countless others.
ARC is finalizing production protocols on the two alloys that Veloxint recently moved to full-scale production. The first alloy, Veloxint Fortified Chrome (VFC), has high strength and stiffness to weight ratios as well as extreme corrosion and wear resistance. The second alloy, Veloxint Hard Metal (VHM), is a tungsten-based alloy that joins hardness, toughness, and high-temperature stability. Given ARC's history with chrome superalloys used in aerospace applications and its full-scale production use of MIM tungsten for medical and defense industries, these nano-enabled materials complement ARC's technical processing expertise.
Jed Rust, CEO at ARC Group Worldwide and Director at Veloxint, commented, "We are excited to be part of this patented cutting edge technology and its application toward full-scale production in MIM." Furthering, "These new alloys will give our customer based even more options on custom alloys for critical use applications."
About ARC Group Worldwide, Inc.
ARC Group Worldwide, Inc. (OTCM:ARCW) is a leading global advanced manufacturing service provider. Founded in 1987, the Company offers its customers a compelling portfolio of advanced manufacturing technologies and cutting-edge capabilities to improve the efficiency of traditional manufacturing processes and accelerate their time to market. In addition to being a world leader in metal injection molding, ARC has significant expertise in prototyping, advanced tooling, automation, machining, plastic injection molding, lean manufacturing, and robotics. ARC's mission is to bring innovation and technology to manufacturing. Learn more at www.arcw.com.
About Veloxint CIF
Veloxint CIF is an innovative company that has developed nanocrystalline metal alloys that are lighter, stronger, corrosion-resistant, and stiffer. They have over 29 global patents and are entering a commercialization phase with several powders. They work with various market sectors, including 3-D metal printing, automotive, aerospace, and the jewelry industry. The technology has been in development for over 5 years and is poised for rapid expansion. For more information, contact Sheila Stewart, Investor Relations, at 303-378-2022 or visit www.veloxintcif.com.
About Quadrant Management
Quadrant Management is a principal investment management firm based in New York, NY. Quadrant has an opportunistic investment philosophy and manages investments in multiple industries around the world. Its platform is rooted with a global investment outlook, deep operating experience, deal structuring expertise, high integrity, and an extensive network of relationships. For more information, visit www.quadrantmgt.com.
SOURCE: ARC Group Worldwide, Inc.
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