Elcora Advanced Materials Enters into 10 Year Supply Agreement with Thyssenkrupp Metallurgical Products
HALIFAX, NOVA SCOTIA / ACCESSWIRE / February 23, 2016 / Troy Grant, President and CEO of Elcora Advanced Materials Corp. (TSXV: ERA) (FSE: ELM) (OTCQB: ECORF), (the "Company" or "Elcora"), announced that Elcora and its joint venture partner Sakura Graphite (PVT) Ltd. ("Sakura") have entered into a 10 year exclusive distribution agreement with thyssenkrupp Metallurgical Products ("thyssenkrupp").
Under the terms of the agreement thyssenkrupp has been appointed the exclusive representative and distributor of Elcora's high purity (greater than 96% purity) graphite production for the territory covering the European Union (EU 28), Russia, Turkey, USA and Canada. thyssenkrupp has been provided the right to purchase 50% of the vein graphite or other graphite produced by Elcora during the term of the agreement.
Under the terms of the agreement thyssenkrupp undertakes to market 9,000 mt p.a. (50% of the estimated 18,000 mt p.a.) by year 5 of the agreement. thyssenkrupp has the option to renew the agreement for an additional 5 years from the initial 10-year period. The high purity graphite is anticipated to be sold to end users in the lithium ion battery market and for other high end technology applications.
thyssenkrupp Group has identified the opportunity to supply key customers with high purity graphite through their metallurgical products division which complements its existing sales of chromite, bauxite and refractory grade graphite.
Stephan Hanel, Chief Operating Officer of thyssenkrupp Metallurgical Products, says: "This partnership with Elcora and Sakura is extremely attractive for us and represents an ideal addition to our portfolio. We are confident that acting as a distributor for this high-quality graphite will enable us to grow our market share, in particular in the forward-looking technology sector."
Troy Grant, Chief Executive Officer of Elcora and Sakura, adds: "We are extremely pleased today to announce this newly formed partnership with thyssenkrupp. The Company's Metallurgical Products Division serves some of the world's leading manufactures with industrial minerals. Through this exclusive arrangement, Elcora will be supplying the highest grade of graphite material available anywhere in the world to market leaders developing technologies that will power our future. We are grateful for this opportunity."
About Elcora Advanced Materials
Founded in 2011, Elcora has been structured to become a vertically integrated graphite & graphene company that mines, processes, refines graphite, and produces both the graphene and end graphene applications.
As part of the vertical integration strategy, Elcora has secured high-grade graphene precursor graphite from its interest in the operation of the Ragedara mine in Sri Lanka. The Elcora team is composed of some of the best process, research and development people both in graphite and graphene. This combination means that Elcora has the tools and resources for graphene vertical integration.
For further information, please visit the company's website at http://www.elcoraresources.com
For further information, please contact: Troy Grant, Director, President and CEO, Elcora Advanced Materials Corp., T: 902 802-8847 F: 902 446-2001
E-mail: troy@elcoraresources.com
About thyssenkrupp Metallurgical Products
thyssenkrupp Metallurgical Products GmbH is part of the Materials Services business area of the thyssenkrupp Group and one of the world's leading commodity trading companies. The company pools resources and technical expertise to provide solutions for virtually all applications in the metallurgical industry. With exceptionally good connections on the raw material markets, in part exclusive marketing rights and end-to-end quality surveillance, the company offers the best possible price/performance ratio for its products. Its close cooperation with the LME (London Metal Exchange) and the expertise of its Competence Center for Metal Hedging (CCMH) — whose services are in demand throughout the Group — makes thyssenkrupp Metallurgical Products the first-choice partner for international customers. Capabilities include product preparation, coke, coal and petcoke trading, warehousing, the sale of advanced furnace technology and trading of industrial gases, grid-based energies, metals, ferro-alloys, high-quality carbon products and industrial minerals.
CAUTIONARY STATEMENT:
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock Exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Elcora, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Elcora's expectations are exploration risks detailed herein and from time to time in the filings made by Elcora with securities regulators. Investors are cautioned that, except as disclosed in the filing statement prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon.
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SOURCE: Elcora Advanced Materials
