DELAND, Fla., June 2, 2014 /PRNewswire/ -- ARC Group Worldwide, Inc. (NASDAQ: ARCW), a leading global provider of advanced manufacturing and 3D printing solutions, announced today its ARC MIM company, won three MIM awards at the Metal Powder Industries Federation ("MPIF") World Congress on May 20, 2014.
FloMet, an ARC MIM company, earned the Grand Prize in the Medical/Dental Category for two 5 millimeter tines – one fixed, one moving – that go into a thermal tissue fusion and dissection system for a major medical OEM customer. The system utilizes direct thermal energy and pressure to effectively seal, transect, dissect, and coagulate tissue. Fabricated via MIM from 17-4 PH stainless steel, the tines overcame many molding and processing challenges, including the fixed tine's length and thin-rib requirements, as well as the need for straightness over its entire length for full functionality with mating components. Highly innovative tooling and advanced thermal processing techniques were employed to produce two components in a final as-assembled condition with only minimal secondary operations. FloMet's expertise in MIM technology created a compelling case for the customer to redesign the product away from its legacy manufacturing process.
FloMet also won the Grand Prize in the Electronic/Electrical Components Category with a three-piece assembly, including a nozzle interface, outer nozzle, and metal collar. The MIM components were for a leading consumer electronics company, used in their high-end, sound isolating earphones that enable user-customizable frequency responses. Made via MIM from 316L stainless steel, the components achieved the objective of producing final net-shape parts that not only met the cost demands of the highly competitive professional-audio market but maintained a cosmetically perfect surface, which is critical in a consumer product with a clear exterior.
AFT, an ARC MIM company, earned an Award of Distinction in the Hand Tools/Recreation Category. The MIM component was for a lock hood, made from 4605 low-alloy steel. The hood's complex geometry presented a challenge for maintaining the large undistorted U-shape which is needed to coin the lock hood into its final tolerance. This was accomplished using a unique sintering and staging approach that utilizes an "active" setter made of a feedstock having a similar shrink rate to the hood. AFT's unique MIM capabilities allowed the customer to offer the end product at the desired price point in their highly competitive consumer market.
Jason Young, Chairman and CEO, commented, "Given MPIF's reputation and leadership in the metal powder industry, we are honored to receive these awards. We feel these awards are a validating example of ARC MIM's leadership and expertise in MIM technology. Also, MPIF introduced metal 3D printing into its exhibition for the first time this year, where we were able to demonstrate 3DMT's capabilities. ARC Group's goal is to continue to strengthen its advanced manufacturing technology not only in MIM, but in other areas such as 3D printing, which we believe will begin to start making a big impact in the metal powder industry. Since 3DMT has a metal 3D printing focus and leverages our MIM expertise in forming parts out of metal powder, we think it is a great opportunity for ARC to continue to be a leader in the metal powder industry."
About ARC Group Worldwide, Inc.
ARC Group Worldwide is a leading global advanced manufacturing and 3D printing 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 ("MIM"), ARC has significant expertise in 3D printing and imaging, advanced tooling, automation, plastic injection molding, lean manufacturing, and robotics. For more information about ARC Group Worldwide, please visit www.ArcGroupWorldwide.com, or its operating subsidiaries at www.3DMaterialTechnologies.com, www.AFTmim.com, www.AFTmimHU.com, www.ARCmim.com, www.ArcWireless.net, www.ATCmold.com, www.FloMet.com, www.GeneralFlange.com, www.Injectamax.com, www.TeknaSeal.com, and www.ThixoWorks.com.
IMPORTANT INFORMATION
This press release may contain "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995, which are based on ARC's current expectations, estimates and projections about future events. These include, but are not limited to, statements, if any, regarding business plans, pro-forma statements and financial projections, ARC's ability to expand its services and realize growth. These statements are not historical facts or guarantees of future performance, events or results. Such statements involve potential risks and uncertainties, and the general effects of financial, economic, and regulatory conditions affecting our industries. Accordingly, actual results may differ materially. ARC does not have any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For additional factors that may affect future results, please see filings made by ARC with the Securities and Exchange Commission ("SEC"), including its Form 10-K for the fiscal year ended June 30, 2013 and Form 10-Q for the period ended March 30, 2014, as well as current reports on Form 8-K filed from time-to-time with the SEC.
CONTACT: Drew M. Kelley
PHONE: (303) 467-5236
Email: InvestorRelations@ArcGroupWorldwide.com
SOURCE ARC Group Worldwide, Inc.
