For a year now MagnaTech has been working with Dawnbreaker to present our developed surface modification technology to Navy communities and to their prime contractors to advance the technology to the commercial level. In June the Navy Opportunity Forum was held and MagnaTech maintained a booth, spoke with key personnel in the Navy and prime contractors, and presented a paper describing the developed technology. The two and a half day conference was well attended, with key Naval personnel as well as representatives of prime contractors working on Navy projects.
As a result of these activities, MagnaTech has opportunities for several potential contracts for current needs that the Navy has identified. In addition, MagnaTech has emerged with contacts for support of research activities with several prime contractors as well.
In addition to the above, MagnaTech continues activities to identify a company that has strong commercial production potential to partner with to advance the current developed technology to satisfy the needs of current markets. Several companies are interested and MagnaTech is currently discussing possibilities with several of these companies.
Life also goes on, and the new buzz word common to the industry is Advanced Manufacturing. This technology is being sponsored by the government and has the direct endorsement of the President. It is currently being touted in several Universities. The technology was initially developed by NASA for space applications back in the 1990s. Recently German, Swedish and English companies have developed machines and powders using Three D computer programing to construct a part using either laser melting or electron beam melting, among other concepts, to produce solid geometric shapes of interest. One of the initial efforts was to replace expensive prototype shapes to construct forging dies and casting molds. Current efforts are to expand this concept into production of short run parts that are expensive to manufacture because the material costs are high and the parts are labor intensive to machine. MagnaTech is exploring how some of our concepts can be used in this new developing technology.
As you can see, MagnaTech currently has their plate full of new activities and opportunities. If your company has a materials or process development process problem, however, MagnaTech is always ready to assist you in resolving this problem. We are especially adept at surface modification to provide improved wear, corrosion and fatigue life while maintaining desired core properties for proper functioning of the part. We also participate in the magnetics field, where our expertise in powder metallurgy and magnetic theory and testing is of importance. Should you have current problems in these areas, MagnaTech would welcome the opportunity to discuss our concepts with you and offer timely service to assist you in resolving these costly problems.