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Terves Breaks Ground on its Expanded Magnesium Foundry for Manufacturing
EUCLID, Ohio–Terves Inc. recently broke ground on a 12,000-square-foot expansion to its magnesium foundry. The expansion of the H3-classified magnesium metal processing facility enables Terves to grow its capabilities in metal processing, heat treatment, machining, and storage, the company said in a press release.
The expansion plans include additional permanent mold and materials handling and storage space, and the addition of sand casting, squeeze casting, and diecasting capabilities for custom magnesium and magnesium alloys and composites. They also include expanding Terves' build-to-print component CNC machining services. The additions enable Terves to support aerospace and defense magnesium applications in addition to its position in the dissolvable oilfield tool market, the company said.
"Dissolvable Metals are the New Composites as far as oilfield tools are concerned," said Terves CEO Andrew Sherman, in a statement. "Oilfield tools made from composite materials were adopted in the industry about two decades ago and today occupy a sizable market share. We are seeing a major adoption and growth trajectory for oilfield tools made from dissolvable magnesium materials. At the end of 2017, roughly 2 percent of all frac plugs deployed in the field were being made using dissolvable metals, and the market is expected to grow to 5 percent of all frac plugs deployed in the field by the end of 2018 – a 250 percent growth in one year, with adoption and use increasing through 2025.
"We are seeing tremendous innovation as the industry gains extensive field experience with these new Engineered Response multifunctional materials, including several new staging and completion tools engineered using dissolvable materials," Sherman continued. "Given the massive value-add of dissolvable tools, primarily eliminating post-completion drill-outs, coupled with the ability to do longer laterals, we expect that dissolvable tools would replace over 30 percent of drillable tools used in well completion over the next 3-5 years.
"Terves is investing in a further doubling of production capacity for cast and wrought magnesium products, and the expansion frees up space in existing facilities for initial production of new Engineered Response products, including revolutionary expandable structural materials and gas-generating reactive materials."
Terves (https://www.tervesinc.com/) is developer and manufacturer of Engineered ResponseTM smart materials for the oil and gas industry. The company also manufactures dissolvable metals and dissolvable elastomers that are used for making frac balls, plugs, slips, seals and several other components used in oil and gas well completion and production.
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