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Dutton Associates Featured Company: Memry Corp. (MRY)

Memry Corporation provides design, engineering, development, and manufacturing services using proprietary shape memory alloy (SMA) and specialty polymer-extrusion technologies. The principal SMA used by Memry is a nickel- titanium alloy called nitinol. In 2004, Memry added to its product portfolio by acquiring Putnam Plastics and its polymer-extrusion and polymer-based components. Memry’s objective is to become the world leader in developing and processing shape memory materials with high quality and significant user value. Almost all of the company’s sales are to the medical device industry.

The company operates in two segments, Nitinol Products and Polymer Products.

The Nitinol Products segment offers design support, as well as manufacturing and marketing of products, which possess the ability to change shape in response to thermal and mechanical stress, while returning to their original shapes following the stress. Its products consist of semi-finished materials, (which include raw nitinol material, nitinol wire products, nitinol strips, and nitinol tubes), as well as formed components and sub-assemblies sold to original equipment manufacturers.

Memry’s products are used in a variety of medical products including stents, filters, embolic protection devices, guidewires, catheters, surgical instruments and devices, orthopedic devices, orthodontic apparatus, high pressure sealing devices, and fasteners. The Nitinol Products segment also provides design assistance to OEMs, as well as the manufacturing and marketing of prototype components and products.

The Polymer Products segment designs, manufactures, and markets specialty polymer-extrusion products to companies serving the medical device, laser, fiber-optic, automotive, and industrial markets. Its products include co-extruded tubing used in various medical tubing applications, T.I.E. tubing, thin walled thermoset polyimide tubing and wire coatings, single and multi lumen tubes, taper/bump tubing; braided reinforced tubing; and wire coating.

Memry is pursuing growth strategies aimed at achieving technical leadership, gaining market share with existing and new customers, and improving returns and profitability. The overarching purpose of many of Memry strategies is to move the company up the value chain by providing more value added products and services.

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