Alyn Corp. Announces Completion of Restructuring
11 May 1999
Alyn Corp. Announces Completion of Restructuring
IRVINE, Calif.--May 11, 1999--Alyn Corp. , an advanced metal matrix composite technology company, Tuesday announced the completion of its management restructuring following the appointment of Arne van Roon as its president and chief executive officer on April 15, 1999.The immediate focus of Alyn, under the leadership of van Roon, has been to develop a market oriented company specializing in the rapid delivery of advanced technical solutions through their proprietary engineering materials. Target industries are, amongst others, nuclear, sporting goods, automotive, computer and electronics as well as aerospace.
The sales organizations have been restructured and expanded both in the United States and abroad. Domestic regional offices will be established to be able to closely interact with key market areas such as the electronic, computer and automotive industries. International activities continue to expand with new offices in Germany and the Scandinavian countries being imminent.
Metal Matrix Composites are a relatively new material in general and engineers and designers are often not familiar with its characteristics and possibilities. The newly created marketing division of Alyn has responded to this by offering MMC training services for engineers, product designers, and management personnel of potential at the company's facilities in Irvine.
The initial course curriculum has been developed and the program is being lead by the company's director of Research and Development, Dr. William Harrigan, an internationally recognized expert in metal matrix composite technology. The program is offering courses on a tuition paid basis, with the first course scheduled for early July. Numerous clients have already reserved positions for the first course.
Production capabilities have been increased and are in the process of being further expanded in order to eliminate the production backlog and meet the expected growth in demand for Boralyn based products. Nuclear sales continue to broaden, with significant early interest and prototype orders coming from the largest nuclear companies in the world. The company's sales efforts in the computer industry have also been broadened beyond the hard-drive disk market. The sales office in Silicon Valley will provide the core of those sales efforts.
The organization has been converted into a flatter, more direct organization with decision capabilities at the appropriate operational levels. Personnel changes include the departure of the former vice president of manufacturing and several other managers, the promotion of a number of key managers to assume broader managerial roles, and the hiring of some new key staff reporting directly to van Roon. Robin Carden, the company's founder, is taking the responsibility for business development and marketing.
Alyn produces Boralyn, a unique metal matrix composite material that is lighter than aluminum, stronger than titanium and has better wear properties than steel, with principal applications in the nuclear, aerospace, automotive, computer hardware and sporting goods industries.
For additional information, contact Richard L. Little, Alyn Corp., 949/225-7360, or e-mail: rlittle@alyn.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release may contain forward-looking statements that involve risks and uncertainties. Among the important factors which could cause actual results to differ materially from those in the forward-looking statements are fluctuations in quarterly operating results, limited historical revenues and prior losses, the company's limited manufacturing history, market acceptance of the company's products in commercial quantities, the need for future capital, rapid technological change and new product development, competition and other factors detailed in the company's filings with the Securities and Exchange Commission, including its filing on Form 10-K for the year ended Dec. 31, 1998.