Materion Corporation (NYSE: MTRN) announced today that it is a founding member of the American Lightweight Materials Manufacturing Innovation Institute (ALMMII), the newest center in the President’s National Network of Manufacturing Innovation. Introduced recently at a White House event, ALMMII will develop advanced lightweight metal manufacturing technology for transfer to the industrial sector, especially automotive, aerospace, energy and defense.
ALMMII is structured as a public-private partnership led by the Columbus, Ohio-based nonprofit EWI and The Ohio State University, along with the University of Michigan. The Institute is being funded by $70 million from the Department of Defense matched by $78 million from the consortium partners. The private sector funding includes in-kind contributions of research and technical services. The Institute will have its headquarters in southeast Michigan.
As a founding member, Materion joins some 60 manufacturing companies, universities, research institutions and industry associations focused on the total value chain for lightweight materials – development, qualification, optimized use, and commercialization of affordable lightweight structures for defense and commercial requirements.
“We are proud to contribute our expertise in lightweight materials to the consortium,” said Richard J. Hipple, Chairman, President and CEO of Materion. “With our copper and nickel-based alloys, metal matrix composites, clad metal systems, and bulk metallic glass alloys, we believe we bring a unique portfolio and skill set to the Institute. We look forward to working with our new ALMMII partners in launching this initiative in support of lightweight metals technologies.”Lawrence Brown, executive director of ALMMII, said, “We are pleased to have Materion as a launch partner on our team. Materion brings a wealth of experience in the design and production of high-performance lightweight alloys and specialty materials that will complement the strengths of other team members. “The goal of the Institute is to expand the market for and create new consumers of products and systems that utilize lightweight, high-performing materials by removing barriers to their manufacture,” said Brown. “I am confident Materion will be an important contributor as we pursue this goal.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV