HOUSTON – April 27, 2011 – Cyanco Holding Corporation (“Cyanco”) and Ascend Performance Materials (“Ascend”) today announce plans for Cyanco to construct a new 55,000 metric ton per year sodium cyanide plant at Ascend’s Alvin, Texas site. Cyanco and Ascend have executed long term agreements under which Ascend will supply hydrogen cyanide, utilities and services to the new Cyanco plant.
“The Ascend site provides significant opportunity to third-party manufacturers because of its world scale and operating competencies,” said Tim Strehl, President of Ascend. “We welcome the long-term relationship between Ascend and Cyanco, and thank them for selecting the Ascend site for their new plant”.
Cyanco expects the plant to be operational in the second half of 2012. Engineering is underway and applications for required environmental permits have been submitted. The plant will produce solid sodium cyanide briquettes and will have the capability of shipping product in hopper cars, ISO containers (Solid to Liquid Systems – “SLS”), one metric ton bag/boxes and one metric ton composite packaging.
John Burrows, Cyanco’s President and CEO said, “We are pleased to enter into a long-term relationship with an industry leader like Ascend. This relationship will allow us to build an efficient and highly reliable plant to meet rapidly increasing customer needs. As a result of new contracts expanding our global customer base and growing commitments under existing sales contracts, we expect the new plant to be operating at or near capacity shortly after startup. After completion of the new plant, Cyanco will have a total production capacity of 125,000 metric tons per year, and will be uniquely positioned to serve the mining industry from the two plants in Nevada, a terminal in Quebec and this strategically positioned plant on the Texas Gulf Coast.”
Ascend is a global leader in proprietary technologies that are central to the production of nylon, plastics and synthetic fibers found in thousands of commercial and industrial products, including carpet, tires and apparel, as well as agricultural products, animal feed and personal care products. The business has world scale integrated manufacturing facilities which enables it to develop new products from its core technologies, and provides flexibility to respond to the expanding needs of its customers. Ascend has sales offices throughout the world, and five manufacturing facilities in the United States. More information is available at www.ascendmaterials.com.
Cyanco is the leading supplier of sodium cyanide to the mining industry in the United States and Canada. In addition to the two plants in Nevada, the company operates a terminal at Cadillac, Quebec to serve customers in the growing market in Eastern Canada. The “new” Cyanco was formed in 2008 when Oaktree Capital Management acquired Nevada Chemicals Inc. and purchased Degussa’s (Evonik’s) sodium cyanide business in the United States and Canada. Cyanco has been a leader in the development and implementation of the International Cyanide Management Code (ICMC) and is represented on the Industry Advisory Group to the International Cyanide Management Institute. All of Cyanco’s facilities are ICMC certified. In addition to being a sodium cyanide producer, the Applied Technology division of Cyanco provides consulting services, laboratory support and cyanide detoxification technology to assist customers throughout their use of its products. Please visit www.cyanco.com for more information.
Bob Warriner, Vice-President Marketing and Sales
775-853-4300 ext. 103
John Burrows, President & CEO
775-853-4300 ext. 101