LONGMONT, Colo., Jan. 7, 2014 /PRNewswire/ -- ARC Group Worldwide, Inc. (NASDAQ: ARCW; the "Company" or "ARC") announced that Advanced Forming Technology has recently launched a metal injection molding (MIM) part in space.
Commenting on the launch, Kevin Schwindt, VP of Sales and Marketing for AFT said, "It is our understanding that this is one of first MIM parts in space, which we are extremely excited about." He further added, "We had a very tight timeline to get this product manufactured and we were one of the few companies capable of producing it. We were able to produce a rapid prototype and get the part into production very quickly in order to deliver on time for launch."
In order to produce the part, AFT had to quickly develop a proprietary MIM engine component, which is an integral part of the rocket propulsion system. The engine component profile is a MIM net-shape part. AFT utilized its proprietary materials technology in order to deliver the necessary material properties required for the part.
Jason Young, Chairman and CEO of ARC said, "This recent MIM launch in space is a testament to the exciting applications for MIM and the advanced capabilities of ARC's MIM technology."
About ARC Group Worldwide, Inc.
ARC Group Worldwide is a diversified, global manufacturing company, as well as the unequivocal world leader in Metal Injection Molding ("MIM"). ARC was founded in 1987 and has a long history as a technology innovator in manufacturing. ARC has significant expertise in lean manufacturing and utilizes cutting edge technology including robotics, automation, and 3D printing. ARC's mission is to bring innovation and technology to manufacturing. ARC's core manufacturing businesses are in precision components, flanges, fittings, and wireless technology, through its operating subsidiaries, www.FloMet.com, www.AFTmim.com, www.AFTmimhu.com, www.Injectamax.com, www.TeknaSeal.com, www.GeneralFlange.com and www.ArcWireless.net. For more information about ARC Group Worldwide, please visit www.ArcGroupWorldwide.com.
This press release may contain "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995, which are based on ARC's current expectations, estimates and projections about future events. These include, but are not limited to, statements, if any, regarding business plans, pro-forma statements and financial projections, ARC's ability to expand its services and realize growth. These statements are not historical facts or guarantees of future performance, events or results. Such statements involve potential risks and uncertainties, and the general effects of financial, economic, and regulatory conditions affecting our industries. Accordingly, actual results may differ materially. ARC does not have any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For additional factors that may affect future results, please see filings made by ARC with the Securities and Exchange Commission ("SEC"), including its Form 10-K for the fiscal year ending June 30, 2013.
CONTACT: Drew Kelley PHONE: (386) 736-4890 EMAIL: InvestorRelations@ArcGroupWorldwide.com
SOURCE ARC Group Worldwide, Inc.