Joint Venture

RNS Number : 5329W

Versarien PLC

10 November 2014

 



Press Release

10 November 2014

Versarien plc

("Versarien" or the "Group")

Joint Venture with Dimar Ltd to form DV Composites Ltd

Versarien Plc (AIM:VRS), the advanced engineering materials group, is pleased to announce that it has agreed terms to form a 50:50 joint venture with Dimar Limited ("Dimar"), a leading global tungsten carbide tool manufacturer based in Israel, to distribute a new range of tooling for the composites industry.

The new venture, DV Composites Limited, will leverage Versarien's existing sales channels into the automotive, aerospace and marine sectors.  Dimar currently sells a range of high performance tooling to a number of global organisations in these sectors.  DV Composites will be based and operate out of Versarien's headquarters in Mitcheldean and will distribute these new products, alongside its development products for the composite industry, enabling further traction.

The new DV Composite's product range will be launched at the Advanced Engineering UK 2014 Show, which is being held at the NEC in Birmingham on the 11 and 12 November 2014.

Neill Ricketts, Chief Executive Officer of Versarien, commented: "This joint venture has provided the Group with a fantastic opportunity to combine several of our key technologies with those of Dimar, for the fast growing composites industry.

"Given the breadth of Versarien, we will be able to draw upon our significant expertise in graphene, tungsten carbide incorporating VersarienCu from an InnovateUK grant and this coupled with Dimar's extensive customer base and experience in the market, creates a robust platform for the launch of DV Composites.  It also provides the Group with an excellent entry point into the Israeli composite industry through our close collaboration with Dimar."

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For further information:

Versarien Plc
Neill Ricketts, Chief Executive Officer	Tel: [phone]
Chris Leigh, Chief Financial Officer	www.versarien.com

Charles Stanley Securities (Nominated Adviser and Broker)
Mark Taylor / Russell Cook	Tel: [phone]

Media Enquiries:

Abchurch Communications Limited
Henry Harrison-Topham / Jamie Hooper	Tel: [phone]
[e-mail]	www.abchurch-group.com

Notes to Editors

Versarien™ plc(AIM:VRS), is an advanced engineering materials group. Leveraging proprietary technology, the Group creates innovative engineering solutions for its clients in a diverse range of industries.  Versarien has two wholly owned subsidiaries, Versarien Technologies Ltd and Total Carbide Ltd, and holds an 85% stake in 2-DTech Ltd.

Versarien Technologies Limited ("VTL")

VTL owns the exclusive rights to a patent-protected additive process for creating advanced micro-porous metals.  Versarien primarily targets the thermal management industry exploiting the superb thermal properties exhibited by such materials.  The company's lead product is VersarienCu™, a micro-porous copper which on incorporation into liquid cooling systems, can improve efficiency by up to ten times. http://www.versarien.co.uk/

2-DTech™ Limited

On 1 May 2014, Versarien acquired 85% of the issued share capital of 2-DTech, a company closely aligned with The University of Manchester, the established home of graphene technology.  2-DTech specialises in the supply, characterisation and early stage development of graphene products.  2-DTech also works closely with industry and researchers to help turn scientific innovation into groundbreaking products.  The acquisition will enable Versarien to apply its experience and expertise to commercialising graphene in the UK; demand for which is set to grow exponentially over the coming years.  For further information about 2-DTech visit http://2-dtech.com/

Total Carbide Limited ("TC")

TC is one of the leading European manufacturers of sintered tungsten carbide, with a global customer base covering over forty different industries. It primarily manufactures arduous environment products for application in the oil and gas industry, along with multiple other industries.  TC provides VTL with access to high volume manufacturing assets that have significantly expanded production of VersarienCu™. http://www.totalcarbide.com/

 

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