Terves and Powdermet enjoy ‘awarding; year
Terves and its parent company Powdermet are looking at 2017 with renewed optimism thanks in great part to the accolades they’ve received this past year, and due to the new developments they are bringing to market for 2017.
In the past nine months alone they’ve received the following awards:
- Named (for the second time) to the 2016 Inc. 5000 list – as the thirteenth fastest growing manufacturer in the U.S.
- Selected as a 2016 Global Petroleum Show Award finalist.
- Named to the prestigious 2016 Weatherhead 100 as one of the best examples of ‘leadership, growth and success’ in Northeast Ohio.
- Cited by multiple proclamations for Terves’ expansion efforts in the magnesium market, including the opening of the first new magnesium foundry to come on-line in the US in over a decade.
- Most recently, last month awarded a 2016 Magnet MSpire award for the development of new magnesium products for the marketplace.
Andy Sherman, CEO of Powdermet and Terves noted: “Despite the challenges of reduced activity in the Oil and Gas sector, we have remained focused on not only meeting our key customer’s needs with our highly-regarded TervAlloy offering, but also on advancing exciting new technologies that will bring greater returns for all of us 2017.
Among the new technologies that Terves will be bringing to market is a dissolvable elastomeric to allow the creation of dissolvable elements to mate with their TervAlloy dissolvable alloys in downhole applications. “The challenge we see in the market is that existing alternatives in dissolving elastomers have failed to meet the same high performance standards of our TervAlloy dissolving alloy – so we’ve focused on providing our customers with a product that offers the same predictive, consistent results they’ve come to expect from Terves.” cited Brian Doud, Terves’ COO.
Additionally, exciting breakthroughs have been made in the area of proppant technology, along with the ability to provide tool manufacturers high hardness variants of dissolvable metal components unlike anything available in the market today.
All of these new technologies will be available in the in the first half of 2017, further establishing Terves’ position as the materials technology leader for the Oil and Gas Industry.
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