12th Feb 2007 07:44
3DM Worldwide PLC12 February 2007 3DM Worldwide PLC PIM to encapsulate Kevlar and produce barge covers 3DM Worldwide plc the owners to the rights of the revolutionary PowderImpression Moulding (PIM) process has been informed of two contract wins bylicensees in the USA. Global Tech International Inc (GTI) and Value Plastic Technologies (VPT) havewon contracts to develop various parts for military personnel vehiclesencapsulating Kevlar using the PIM process. The companies are nominateddevelopment sub contractors to the $2 million project run by Kelly Space &Technology Inc. and funded by the U.S. Department of Defence. The purchaseorder for the development of test pieces has already been received. Westmark Marine Inc (3DM's principal marine licensee for NAFTA) has also granteda sublicence to James Marine Inc. for a sublicence fee of $50,000 and JamesMarine has awarded a development contract to GTI and VPT worth $810,000 todevelop barge covers supplying prototype tooling and parts. James Marine runsbarge fleets on the Tennessee and Ohio rivers in the USA providing a range ofservices including repair work and dry dock facilities. 3DM will receive royalties from the production of parts resulting from thesecontracts. Niall MacKay Chief Executive of 3DM Worldwide plc said, " We are delighted to hear of the progress being made by our licensees in theUSA. They clearly demonstrate the versatility of the PIM process and the widerange of potential applications for the technology." 12 February 2007 ENQUIRIES: 3DM Worldwide 02920 885858Niall Mackay, Chief ExecutiveDavid Shepley-Cuthbert, Finance Director College Hill 020 7457 2020Gareth DavidAnthony Parker This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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