Exechon Joint Venture Announces XMini Automotive Manufacturing Sale to UAE-Based REFCO Metals

FARNBOROUGH, England, July 17, 2018 /PRNewswire/ -- Exechon Enterprises L.L.C., a joint venture (JV) company comprising of U.S.-based global security and aerospace company Lockheed Martin (NYSE: LMT), United Arab Emirates (UAE) -based Injaz National and Sweden-based Tecgrant AB, has sold an XMini industrial robotic manufacturing tool to REFCO Metals L.L.C., a UAE-based manufacturer of aluminum assemblies for luxury automobiles.

"Today's automotive industry moves fast and requires parts made to the most exacting specifications," said Shafik Nasser, Chairman of Exechon Enterprises. "The XMini creates complex, high-precision parts while streamlining production and lowering costs, making it the perfect partner in a modern manufacturing environment."

During a six-month verification process, REFCO Metals will use the XMini to manufacture a broad range of automotive-grade aluminum alloy extrusions. The company has an option to purchase additional machines.

"We are excited that with the sale of the XMini to REFCO Metals, Exechon has successfully leveraged its local and international partnerships, while supporting the UAE's aims to becoming a regional leader in robotics and automation," said Maher Nasser, Chairman of SABER Investment Company L.L.C., which manages Injaz National's interests in the JV. "Collaboration like this is a prime example of how local and international partners can work together to enhance local manufacturing and support meaningful and lasting economic impact right here in the UAE."

In a series of trials conducted at Exechon's Application and Technology Center facility in Abu Dhabi, the XMini demonstrated its capability to machine complex parts with high precision in a single setup while improving productivity and cutting cycle/setup times in half.

The XMini is on display at the Farnborough International Air Show at Ascent Aerospace's booth in the U.S. Pavilion, Hall 2, Stand 2180. Media briefings for journalists will take place at the booth at the following times:

• 10:30 a.m. on Tuesday, July 17
• 1 p.m. on Wednesday, July 18
• 11 a.m. on Thursday, July 19

For more on the XMini, visit www.exechon.com.

About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 100,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. This year the company received three Edison Awards for ground-breaking innovations in autonomy, satellite technology and directed energy.

About Exechon
Exechon Enterprises L.L.C., is a joint-venture company that consists of Abu Dhabi-based Injaz National, Lockheed Martin, and Sweden-based Tecgrant AB. Exechon is an engineering and manufacturing center of excellence for parallel kinematics machining robots. Its products bring a full suite of automated manufacturing options to the aerospace, defense and automotive sectors, as well as other industrial markets.

SOURCE Lockheed Martin