KOKOMO, Ind., Feb. 29, 2008 (PRIME NEWSWIRE) -- Haynes International, Inc. (Nasdaq:HAYN) announced today that it has recently developed HAYNES(r) HR-224(tm) alloy, a high-temperature nickel-based alloy with excellent oxidation resistance at elevated temperatures. The alloy contains controlled additions of aluminum which contribute to the oxidation resistance, and is designed to have good formability and weldability. An application for the trademark, HAYNES(r) HR-224(tm) alloy, has been filed for this alloy and the U.S. Patent Office application serial number was assigned in December 2007. The first production heat was melted in December 2007. The Company expects the commercialization process for this alloy to occur over the next several years.
About Haynes International
Haynes International, Inc. is a leading developer, manufacturer and marketer of technologically advanced, high-performance alloys, primarily for use in the aerospace, land-based gas turbine and chemical processing markets.
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Cautionary Note Regarding Forward-Looking Statements
This news release contains statements that may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934, specifically regarding the development and commercialization of the new alloy described. Although the Company believes that its plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, such forward-looking statements are subject to a number of risks and uncertainties, and the Company can provide no assurances that such plans, intentions or expectations will be achieved. It is not possible to anticipate and list all risks and uncertainties that may affect the future development or commercialization of this new alloy, but they include the Company's ability to manufacture the alloy, the strengths of the Company's markets and the acceptance of the alloy into such markets.
All forward-looking statements speak only to the respective dates on which such statements are made and the Company does not undertake and specifically declines any obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.