Furon Introduces Light, Strong Industrial Material
Furon Co., producer of high-strength plastics for industrial uses, said Monday that it has introduced a lightweight material strong enough for use as bearings and piston rings.
The company said it expects first-year orders of the new product to exceed $5 million. The announcement apparently spurred a jump in Furon’s stock to $14.50, up $1 in heavy over-the-counter trading.
“It can be made into just about anything you can make out of metal,” Furon spokesman Ron Bissell said.
The polyimide material, known as Meldin 2000, is far lighter than metal and maintains its lubrication better. It has extreme strength, durability and high-temperature tolerance, the company said.
Meldin 2000 will compete with a similar material made for more than 20 years by E.I. du Pont de Nemours & Co. of Wilmington, Del. But Bissell said that Meldin 2000 is being marketed as being able to withstand higher temperatures.
While Meldin 2000 has a temperature range from minus 400 to 900 degrees, it can withstand temperatures of 600 degrees for sustained periods, said Bissell. The Du Pont product, Vespel, can withstand temperatures of 550 degrees.
Although Furon hopes to market Meldin 2000 for uses in automotive, electronics and industrial markets, Bissell said it has particularly strong appeal to the aerospace industry. The product’s weight and strength are well suited to parts in turbine engines for aircraft. It also can be machined into structural components and seals.
“We are absolutely thrilled about the prospects for this new material and our entry into a market that has been dominated by one company for more than 20 years,” Furon President J. Michael Hagan said in a statement. “Meldin 2000 addresses an important market with an established customer base that is growing consistently both domestically and overseas.”
Bissell said the new product has been in development for several years and will help round out the company’s line of polymer plastics. Meldin 2000 will be sold in sheet and rod form, or formed into parts as needed by buyers.
