Westaim Ambeon is a global provider of customized nickel-based materials for the power genera­tion and aero industries. These materials are also used in electronic applications. The acquisition of Ambeon strength­ens the Sulzer Metco thermal-spray materials offering and expands the portfolio in the area of honeycomb structures, electronic shielding, and hardfacing materials. Since Westaim Ambeon and Sulzer Metco have been working together successfully for the last twenty years, a smooth integration is expected.

The purchase price for the assets of the Ambeon Division and the shares of its UK subsidiary Neomet Ltd. is CHF 33 million (35 million Canadian dollars). The new Canadian company will be called Sulzer Metco (Canada) Inc.

Bruno Walser, President of the Sulzer Metco Division: “We are delighted to join forces with such a highly competent and innovative partner in materials technology to further strengthen our lead­ing position in the surface technology business.”

Barry Heck, President and CEO of The Westaim Corporation: “Westaim Ambeon is an out­standing company, which ideally complements the Sulzer Metco portfolio. This divestiture will allow Westaim to further focus on our two technology investments: NUCRYST Pharmaceuticals and iFire Technology.”

Sulzer Metco (www.sulzermetco.com) is a global leader in surface coating solutions and services. The division offers a broad range of thermal-spray, thin-film, and other advanced surface technology equip­ment, integrated systems, and materials, as well as specialized coating and surface enhancement services and manufactured components for selected industries. A global customer support service completes its portfolio. Sulzer Metco provides a global manufactur­ing, distribution, and service network and caters to aerospace, power generation, automotive, as well as other strategic growth industries. Sulzer Metco employs about 1500 professionals worldwide. Net sales for the first half year 2003 totaled CHF 193 million (sales for year 2002: CHF 465 million).