Eutectix and Materion announce Licensing Agreement for Bulk Metallic Glass

December 6, 2018 at 9:00 AM EST

MAYFIELD HEIGHTS, Ohio–(BUSINESS WIRE)–Dec. 6, 2018— Materion Corporation (NYSE:MTRN) announced that it has entered into an intellectual property licensing agreement with New Jersey-based Eutectix LLC. The agreement, which is effective October 22, 2018, grants to Eutectix, a manufacturer of specialty alloys and master alloys, a license to the entire Materion bulk metallic glass patent portfolio and to any and all patents arising therefrom, which license is exclusive for the first five years. In 2010, Materion was one of the first in the industry to begin producing high quality alloys for use in bulk metallic glass manufacturing applications.

“Our agreement with Eutectix presents a unique opportunity to increase market penetration of this exciting value-creating technology,” said Clive Grannum, President Materion Performance Alloys and Composites.

“We are very excited to move forward with this agreement,” said John de Neufville, Chief Executive Officer for Eutectix. “Customers can expect the same reliable quality and service that they have come to know when working with Materion.”

The enhanced business relationship will begin immediately. As part of this change, Jason Clune, Manager, Application & Business Development and Nick Hutchinson, Senior Engineer for Materion will transition into new roles with Eutectix.

About Materion:

Materion Corporation is headquartered in Mayfield Heights, Ohio. The Company, through its wholly owned subsidiaries, supplies highly engineered advanced materials to global markets. Our unique product portfolio includes high performance alloysberyllium productsclad metal stripcomposite metals, ceramics, inorganic chemicalsmicroelectronics packaging materialsprecision opticsthin film coatings and thin film deposition materials.

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About Eutectix:

Eutectix LLC manufactures metal alloys and alloy powders at its facilities in Troy Michigan and Tolleson, Arizona. In addition to its manufacture of bulk metallic glass alloys, Eutectix produces samarium-cobalt and iron-neodymium-boron rare earth magnet alloys, various superalloy rods for further fabrication into welding wire, various alloys for hydride batteries and hydrogen fuel storage, and master alloys as ingredients for superalloy and alnico magnet production.

Eutectix LLC was founded in 2014 via the acquisition of the Great Western Technology manufacturing facility in Troy, MI. The facility had originally been created by the Ovonic Battery Company subsidiary of Energy Conversion Devices, Inc. to develop and manufacture alloy powders for the early nickel metal hydride batteries. Subsequently, the entire manufacturing facility of Molycorp Metals and Alloys in Tolleson, AZ, historically focused on manufacturing rare earth magnet metals and alloy powders, was acquired in 2016.

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Source: Materion Corporation and Eutectix, LLC

Materion Corporation
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