Magnatech Completes Federal Preaudit

MagnaTech believes that it is now qualified to receive government research projects. This statement results from an extensive adjustment of MagnaTech financial practices to conform with government requirements for cost plus fixed fee contracts. MagnaTech is currently awaiting a Phase II SBIR contract to continue work pertaining to carburization and nitriding processes, which are currently being reviewed for patent award. The Phase II contract, when offered,would concentrate a two year effort to research the possibility of including the technology to carburize or nitride less costly alloy steels to provide improved wear and corrosion resistance. In addition, the process will be scaled up to produce pilot loads of simulated parts for preparation for production. MagnaTech is interested in talking with interested parties regarding this new technology designed to reduce production time, produce cleaner parts and to improve the environment.