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Alyn Corp. Announces Results for Fourth Quarter and Full Year 1999

  • Tuesday, 18th April 2000
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Alyn Corp, the advanced metal matrix technology company, reported financial results for the fourth quarter and full year 1999. For the 12 months ended Dec. 31, 1999, Alyn reported a net loss attributable to common stockholders of $16,309,000, attributable to the transition process in which Alyn changed its strategy, restructured its operations and made considerable progress in introducing its innovative materials into the marketplace. Alyn Corp. as a company is being converted from an R&D company to a production company. Sales efforts are now focused at a number of larger volume key markets, and successes with the materials achieved during the last twelve months are the applications in robotics, automotive racing, nuclear shielding and sporting goods. Atlas Snowshoe launched the first pair of sub one pound snowshoes in January 2000 using the Boralyn(R) material. Boralyn(R) bicycle rims are beginning to appear in the market, as well as other bicycle components. In addition, Alyn’s first nuclear order (Trans Nuclear Inc.) was successfully completed in December 1999. During 2000, the company will remain focused on its primary goals of increasing sales and production in a timely manner, and at the same time achieving production and other operating efficiencies. Successfully accomplishing the company’s ambitious plan depends upon the continued effort of Alyn’s dedicated staff, company-wide commitment to quality and the customer base as well as the further development of a culture that is innovative and results oriented. For additional information, contact: rbrooks@alyn.com.


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