The Logan Clay Products Company, which manufactures clay sewer pipe, flue lining, decorative chimney tops, and wall coping, is celebrating its 125th anniversary. It is important to note there are few companies or industries that have remained in business for more than a century and are still providing products as important today as they were when the company was established.
Molycorp Inc., a vertically-integrated producer of rare earth products, announced that it has executed a restructuring support agreement with creditors that hold over 70% of the aggregate principal amount of the Company’s 10% senior secured notes. The agreement provides for a financial restructuring of the Company’s $1.7 billion in debt and provides up to $225 million in gross proceeds in new financing to support operations while the company completes negotiations with creditors.
Corning Inc. will invest in a new Gen 8.5 LCD glass substrate finishing facility in Chongqing Liangjiang New Area in Southwest China. This new finishing facility will become Corning’s second LCD plant on the China mainland. This investment is driven by strong demand for LCD substrates in China and will enable Corning to serve Chinese panel makers more effectively through localized glass supply. The company did not disclose the funding level for this project.
3M has filed a patent infringement lawsuit in Düsseldorf, Germany, against Zirkonzahn Deutschland GmbH (Neuler, Germany) and Zirkonzahn SRL (Gais, South Tyrol, Italy). The lawsuit alleges infringement of 3M’s European Patent No. 1 154 969 B2 by using Zirkonzahn’s instructions for sintering of Zirkonzahn’s zirconia blocks. 3M’s patented technology enables dimensionally precise sintering of dental ceramics.
Tytan 3D has unveiled a new 3-D printer, called the GAJA Multitool MAXX. When it comes to all-in-one machines like the GAJA Multitool, this appears to be a very high quality tool. The price tag is a bit high, when compared to normal desktop 3-D printers, but this machine is far from normal. The large build volume makes it perfect for printing in various clays for the fabrication of large ceramic objects. The ability to interchange tool heads will save a lot of money on other equipment as well.
Newly formed Murata Energy Solutions Americas Inc., a subsidiary of Murata Electronics North America Inc., has announced PowerConnect, a new product line developed exclusively for the automated demand response market. PowerConnect is a cloud-based SaaS that provides streamlined, highly reliable automated performance of demand response actions, as well as the automated monitoring and testing of emergency power supply systems.
Johnson Matthey has agreed to divest its Alfa Aesar Research Chemicals business to Thermo Fisher Scientific Inc., the world leader in serving science, for £256 million in cash, subject to typical post-closing adjustments. The transaction is expected to be completed by the end of the 2015 calendar year, subject to satisfaction of typical pre-closing conditions.
Kyocera Corp. will construct a new manufacturing plant in China, aimed at further strengthening the company’s industrial cutting tool business in the country. On June 29, a groundbreaking ceremony was held at Kyocera Precision Tools in Ganzhou City. KPTG was established in January 2015 as a joint venture between Kyocera and a tungsten refining company in China, Ganzhou Grand Sea W&Mo Group Co. Ltd., to meet growing demand for industrial cutting tools in the automotive industry in China.
Alcoa permanently closed its Poços de Caldas primary aluminum smelter in Brazil on June 30, 2015. The smelter has been curtailed since May 2014 and the underlying market conditions that led to the curtailment have not improved. Once closed, Alcoa’s total global smelting capacity will be reduced by 96,000 metric tons to 3.4 million metric tons. The Poços mine, refinery, aluminum powder plant and casthouse will continue normal operations.