PITTSBURGH, April 05, 2022 (GLOBE NEWSWIRE) — Matthews International Corporation (NASDAQ GSM: MATW) announced today the expected July 2022 opening of its state-of-the-art service facility in San Antonio, Texas, for the refurbishment of calender rolls for lithium-ion battery electrode production. This facility, part of Matthews’ Saueressig Engineering and Energy division, supports the growth of its North American energy business, serving the rapidly growing renewable energy market.
“We are very excited about the start-up of our San Antonio facility, designed to apply our published patents for use of dry electrodes in the production and reconditioning of lithium-ion batteries and multiple roll calenders (MRCs),” commented Joe Bartolacci, President and Chief Executive Officer. “This patented technology has the potential to reduce the cost of production and accelerate mass market adoption of fuels cells for a variety of end-use markets, including the electric vehicle market.”
Greg Babe, Chief Technology Officer, continued, “This new facility is the culmination of combining a set of unique capabilities that support both the development of MRCs and hydrogen fuel cells. With top-tier electric vehicle customers already using our technology, we believe the impact on the industry will be significant as the market continues to grow.”
With demand for green energy technologies accelerating, planning is also underway for a proposed expansion of the San Antonio facility to include a Technical Center for application testing and a demonstration site of its proprietary equipment for both battery electrodes and hydrogen fuel cell component production. The technical center supports the Company’s North American customers and augments existing R&D capabilities in the Saueressig operation in Vreden, Germany which drives the Company’s global R&D activities. The facility will be a complement to the Company’s Burlington, North Carolina, site which is ramping up its energy production capabilities as an extension of its cutting and embossing business.
The North American expansion solidifies the established global position Matthews holds in production lines for the clean energy market, where the Company is a leader in calendering lines for electrode production of lithium-ion batteries for the electric vehicle market, and on its growing expertise in hydrogen fuel cells following the acquisition of Terrella Energy Systems in May 2021 and its Joint Development Agreement with Illuming Power in February.
About Matthews International Corporation
Matthews International Corporation is a global provider of brand solutions, memorialization products and industrial technologies. The SGK Brand Solutions segment is a leading provider of packaging solutions and brand experiences, helping companies simplify their marketing, amplify their brands and provide value. The Memorialization segment is a leading provider of memorialization products, including memorials, caskets and cremation and incineration equipment, primarily to cemetery and funeral home customers that help families move from grief to remembrance. The Industrial Technologies segment designs, manufactures, services and distributes high-tech custom energy storage, marking, coding and industrial automation technologies and solutions. The Company has approximately 11,000 employees in more than 26 countries on six continents that are committed to delivering the highest quality products and services.
Forward-looking Information
Any forward-looking statements contained in this release are included pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks and uncertainties that may cause the Company’s actual results in future periods to be materially different from management’s expectations. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove correct. Factors that could cause the Company’s results to differ materially from the results discussed in such forward-looking statements principally include changes in domestic or international economic conditions, changes in foreign currency exchange rates, changes in the cost of materials used in the manufacture of the Company’s products, changes in mortality and cremation rates, changes in product demand or pricing as a result of consolidation in the industries in which the Company operates, or other factors such as supply chain disruptions, labor shortages or labor cost increases, changes in product demand or pricing as a result of domestic or international competitive pressures, ability to achieve cost-reduction objectives, unknown risks in connection with the Company’s acquisitions, cybersecurity concerns, effectiveness of the Company’s internal controls, compliance with domestic and foreign laws and regulations, technological factors beyond the Company’s control, impact of pandemics or similar outbreaks, such as coronavirus disease 2019 (“COVID-19”) or other disruptions to our industries, customers, or supply chains, and other factors described in the Company’s Annual Report on Form 10-K and other periodic filings with the U.S. Securities and Exchange Commission.
Matthews International Corporation
Corporate Office
Two NorthShore Center
Pittsburgh, PA 15212-5851
Phone: (412) 442-8200
CONTACT:
Steven F. Nicola
Chief Financial Officer
Phone: 412.442.8262
Source: GlobeNewswire
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