Goodwin Plc - Product Innovation
Goodwin PLC is pleased to announce that its subsidiary Goodwin Refractory Services Limited, the technical core of the Group's seven investment casting powder manufacturing companies around the world, has finally developed a silica free investment casting powder for which it has applied for a patent to protect its technology.
This new investment casting powder can be used by jewellery manufacturers to cast Gold, Silver and Brass jewellery castings without them having to change any of their existing equipment, processes or infrastructure. This breakthrough is the conclusion of over six years of research and development work by the Group and will allow jewellery casting manufacturers to work in an environment free of respirable silica, which will remove a major health risk should end users not conscientiously wear the recommended breathing protection apparatus.
This new invention will allow the Group to address the jewellery investment casting manufacturing market in the USA as, until now, it has been corporately forbidden for any Goodwin group company to sell products containing respirable silica into the USA.
This new product will assist Goodwin's seven jewellery investments casting powder manufacturing companies to further extend their global market share in the jewellery investment casting powder market where their share already exceeds 50%. As the new silica free product is a premium product, not only in quality but also on safety considerations, it should allow for further improvement in gross margin and profits earned in the Goodwin Engineering Refractory division over the coming years.