California-based Thresher Industries has signed a "memorandum of understanding" with a newly formed consortium of South Korean companies, which will be the basis of a joint-venture contract to establish a manufacturing plant at Busan, South Korea. The plan was previewed in a statement earlier this month, in which Thresher predicted a new production plant in Japan or South Korea.
Robin Carden, Thresher's v.p. of Business Development, stated, "We have seen a very real demand for our materials and technologies in the Asian Pacific Rim and believe a joint venture and manufacturing presence will allow tremendous revenue growth and the ability to meet corporate objectives in the Pacific Rim."
Thresher produces cast components in aluminum as well as reinforced metal-matrix composite aluminum alloys. Its ThermaLite and TerraLite alloys reportedly offer advantages over conventional aluminum alloys, including better wear-resistance, thermal properties, and increased strength. Thresher also markets proprietary casting technologies, including the Nautilus core technology, a bio-degradable, recyclable process that uses neither sand nor binders.
The plant in Busan will target customers for Thresher's Talbor material, for use in the nuclear industry as well as for high-strength composites in the South Korean auto industry."
The other companies in the consortium are unnamed, but Thresher indicated that they have expertise in the nuclear industry and knowledge of advanced materials.
Thresher Industries president Tom Flessner stated: "We have seen great rebirth in the nuclear industry around the world. Our proprietary technology puts Thresher at the forefront of growing global demand enabling Thresher's customers to implement safer and more effective spent fuel-storage strategies."