Monday, April 23, 2012

MMFX Steel Starts Production in the United Arab Emirates


Maker of Proprietary Corrosion-Resistant, High-Strength Rebar Expanding Supply through UAE-based IQS

DUBAI, United Arab Emirates - Monday, April 23rd 2012 [ME NewsWire]

(BUSINESS WIRE)-- MMFX Steel DMCC, the Middle East subsidiary of MMFX Technologies Corporation, has established production of its proprietary MMFX2 concrete reinforcing steels (“rebar”) in the United Arab Emirates with International Quality Steel LLC (IQS). IQS, headquartered in Dubai, is a group company of ANC Holdings and a leading steel producer in the UAE.

The ability of IQS to produce MMFX’s uncoated corrosion-resistant, high-strength steels substantially increases MMFX’s production capability for the Middle East market. Moreover, it gives MMFX a local supply source and enhances the company’s ability to respond to customer needs. Demand for its branded MMFX2 product continues to grow, particularly in environments where corrosion is a concern.

Independent tests have shown MMFX2 rebar to be five times more corrosion-resistant than and twice as strong as conventional steel. The product’s high-strength (690 MPa [100 KSI] – 840 MPa [120 KSI] compared to 420 MPa [60 KSI]) is also advantageous when structures are engineered at the higher strength.

These competitive advantages favorably position MMFX in the Middle East, where high heat and humidity, severe temperature swings, and highly aggressive soils accelerate steel corrosion. As conventional reinforcing steel rusts, the concrete structure weakens. Utilizing MMFX2 can dramatically extend service life and reduce the life-cycle costs for bridges, commercial high-rises and other concrete reinforced steel structures.

With IQS’s production strengths, MMFX Steel DMCC will substantially ramp up supply to the Middle East market, while also supporting customer needs through improved cost efficiencies and inventory management. IQS produces specialty and high-quality billets at a 100,000 metric tons per annum capacity.

“We chose to engage IQS because of their emphasis on quality and ability to work with our technical team to produce the unique microstructure of MMFX2 rebar,” said MMFX Steel DMCC President, Salem Faza. “Their capabilities and proximity to the market make them a great strategic fit for us.”

The company, along with its marketing partner, Zamil Group Holding Company, is marketing and selling MMFX2 throughout the Middle East.

About MMFX Steel DMCC

A Dubai Multi-Commodity Center corporation, MMFX Steel DMCC, a subsidiary of MMFX Technologies Corporation, markets and sells MMFX2 concrete reinforcing steels throughout the Middle East. Applications include bridges and highway systems, high-rise buildings and numerous commercial/industrial applications.

About MMFX Technologies Corporation

MMFX Technologies Corporation, headquartered in Irvine, California, is a material science company commercializing its proprietary, micro- and nanotechnologies that enable the manipulation of the microstructures of steel to derive optimum product properties. The current focus for MMFX’s core technology is MMFX2 concrete reinforcing steels, uncoated steel that has a microstructure fundamentally different from conventional steel providing superior strength and corrosion-resistance.

About International Quality Steel LLC

Headquartered in Dubai, International Quality Steel LLC (IQS) operates a state-of-the-art, fully automatic facility. The plant covers over 41,279 square meters and produces an estimated 100,000 metric tons of high quality, hot rolled stainless steel billets each year. IQS is part of ANC Holdings LLC Group of Companies, a diverse group of companies that remains a leading force in the construction industry and other sectors of the UAE economy.

About Zamil Group Holding Company

Zamil Group, managed by the Al Zamil family, is a highly renowned and trusted name throughout the GCC region. As one of its most diversified industrial and commercial organizations, Zamil Group offers a wide range of industrial and commercial products and services. The company operates through its vast network of manufacturing facilities and regional and international offices located in over 60 countries. Zamil Commercial Division, the trading arm of Zamil Group, functions as sales agent/sponsor to overseas manufacturers, leveraging the parent company's diversified operations and commercial interests with strong alliances, as well as, reputation for providing supreme quality products and individualized value-added services.

Contacts

MMFX Steel DMCC

Michael Shepherd

michael@theshepherdgroup.com

(949) 798-5595

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