MAYFIELD HEIGHTS, Ohio--(BUSINESS WIRE)--Materion Corporation (NYSE:MTRN) announced today that it has signed an agreement with a longstanding customer for a long-term supply of beryllium hydroxide material. Shipments from Materion’s mine and mill operations in western Utah are starting this quarter. Specific terms of the agreement were not disclosed.
Commenting on the agreement, Jugal Vijayvargiya, Materion President and Chief Executive Officer, said, “We are excited to sign a long-term agreement and are especially pleased to resume regular shipments this quarter to a valued customer. This contract supports our long-term growth strategy and confirms Materion's leading position as the only fully integrated supplier of beryllium-containing products, while also meeting the customer’s needs for a reliable supply of high-performance beryllium hydroxide material.”
Materion utilizes its bertrandite ore for conversion to beryllium hydroxide for its own downstream beryllium metal, alloy and ceramic operations and for external sale.
The agreement will allow Materion to make long-term plans for efficient operation of its mine and to ensure stability and continuity with its raw material supply. Materion, with a minimum of 75 years of proven reserves, is well positioned to serve global customer demand. The Company has in recent years enhanced production capacity at its Utah processing mill, while also continuing to advance beryllium conversion and processing technology. Materion is the only company to supply the open market with a meaningful volume of ore from an active mine.
Materion Corporation is headquartered in Mayfield Heights, Ohio. The Company, through its wholly owned subsidiaries, supplies highly engineered advanced enabling materials to global markets. Products include precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems.