2016-02-16 12:16 ET - News Release
Mr. Paul Ferguson reports
GREAT LAKES GRAPHITE ANNOUNCES PURCHASE ORDERS FROM U.S. INDUSTRIAL
Great Lakes Graphite Inc. has received two purchase orders from a large, Texas-based industrial company whose initial requirement consists of 40 tonnes of micronized graphite products in total. These purchase orders are the first ever to be received by Great Lakes and originate from a customer who, through this relationship, expects to source a significant volume of micronized graphite on an on-going basis.
Senior Vice President of Sales Mike Coscia commented, "These initial orders represent an important outcome of a process that has been ongoing for several months now. In this case, we worked closely with a customer who is developing a solution with stringent performance requirements. Identifying the right product for their application required an iterative process of testing various products and blends and working collaboratively to find the right solution. We believe this model works well for Great Lakes and enables customers to benefit from our substantial experience with graphite and other industrial minerals." Great Lakes CEO Paul Gorman added, "The focused efforts of our team working together with our valued partners have enabled us to achieve this critical milestone. Commissioning of the facility is underway and with our first purchase orders in hand, we are now executing the next phase of our business plan."
Product Qualification Progress Update
Over the past several months, Great Lakes Graphite has been working with prospective customers to qualify graphite products for a range of applications in specific markets. By working in parallel with a limited number of select prospects, Great Lakes has made significant progress in demonstrating the suitability of GLK's micronized graphite products and qualifying them for use in the following product areas:
- Lubricants - greases and lubricating fluids and sprays
- Friction Products - automotive brake pads
- Batteries/Energy Storage - anode material for lead-acid batteries and LiOH batteries
- Conduction - thermal and electrical conductors for chemical manufacturing
Sr. Vice President of Sales Mike Coscia said, "We are in the process of qualifying several products. Our first priority is the micronized graphite products we are preparing to deliver in quantity in the near term and on applications that have relatively shorter qualification periods.
We are complementing that effort with a sampling program for prospects that require high purity micronized graphite. The long qualification times required for the high purity markets require us to begin working with prospective customers now. Feedback obtained during this process will inform decisions we need to make regarding the production of high purity micronized graphite.
Working with a representative sample of our targeted customer base has been enormously helpful and provides insight into what customers are seeking that you simply cannot get any other way. When we collaborate with our customers to solve their challenges, we are providing real value, earning credibility and firmly establishing our brand in the market."
We seek Safe Harbor.