Aerocast Inc. ("Aerocast" or the "Company" CNSX-A) has added new equipment and has poured a number of test castings using magnesium alloys. These alloys were supplied by Magnesium Elektron Powder Products North America, which also provides the Company with technical support with respect to producing castings from magnesium alloys.
Magnesium is approximately 30% lighter than aluminum and is easy to machine, which makes it desirable for use in the manufacture of aircraft components. However certain difficulties in working with magnesium, such as the fact that magnesium will burn in the molten state when exposed to air and can explode if it comes in contact with water, have significantly limited the number of foundries that produce magnesium castings. The demand for these castings, however, is very high and Aerocast's customers have been very supportive of the Company's addition of magnesium castings to its line of products.
Aerocast's shares trade on the Canadian National Stock Exchange (CNSX) under the symbol â€˜A'.
About Magnesium Elektron
Magnesium Elektron Powder Products North America is a division of Magnesium Elektron UK, which is a dedicated service organisation specialising in the development, manufacture and supply of magnesium products and services to technology industries worldwide.
About Aerocast Inc.
Aerocast has established a foundry operation in Nogales, Mexico, for the purpose of manufacturing complex aluminum and magnesium alloy cast components (known as castings) primarily for the aerospace industry. Aerocast intends to take advantage of the prevailing low labour rates in Mexico and expects that it will be able to produce its products for lower costs than competing foundries.