NEW YORK, NY: December 23, 2020: At the 7th International Conference on Magnesium in Shenyang China recently, Galaxy Trade and Technology signed two important agreements with leaders of the magnesium industry in China. The Institute of Metal Research, an acclaimed scientific research group, and Shaanxi Yulin Magnesium Group, the financial and commodities leader, agreed to extended strategic relationships with Galaxy — a magnesium production, marketing, finance and technology firm based in New York. Galaxy co-produced the highly successful Conference, attended by 800 representatives from nations around the world.
First, Galaxy signed a long term cooperation agreement with the Shaanxi Yulin Magnesium Group, which holds the largest reserve of magnesium in the world. The Magnesium Group provides Galaxy with a share of its substantial guaranteed supply of pure magnesium, ensuring unprecedented access to the valuable emerging metal. The first reserves have already been set aside and dedicated to Galaxy, to assure international customers of timely, cost-effective delivery. This alliance will help to bring about the first open, 24/7 bid-ask commodity trading platform specializing in magnesium, to be based in Geneva.
Second, Galaxy’s new Chief Scientific Advisor is Professor Yang Yuansheng. He provides top-level independent scientific and commercial advice to Galaxy, with regular updates on major technological developments in magnesium science and industrial applications. He also does testing of target alloys, performance advice on equivalent aluminum vs. magnesium alloys, and assessment of potential applications of magnesium. Professor Yang has an exceptional record as Research Group Leader with the Institute of Metal Research (IMR).
Together, the two agreements put Galaxy in the center of a powerful scientific and commercial alliance, positioning the company as the global choice for high-quality, high-volume, technically precise magnesium applications.
Signing for Galaxy were Chairman Michael North and Co-Chair Xiaofang Zhou, accompanied by Galaxy’s senior executive in China, Dong Yuming. For the Institute of Metal Research, the agreement was signed by Yang Yuansheng; signing for the Shaanxi Yulin Magnesium Group was Vice President Zhou Junhou.
Zhou Junhou, Director of Shaanxi Yulin Magnesium Group, said, “We are very pleased to join with Galaxy in bringing our green magnesium to global markets. We recognize the great potential synergy with Galaxy, so we have made a large commitment of pure magnesium and alloys to Galaxy. We have set aside a substantial share of our reserves for Galaxy, and will guarantee delivery of large shipments of magnesium each month, beginning immediately. This will make possible unprecedented market growth at competitive prices and lower supply chain risk.”
Doctor Yang Yuansheng of the Institute of Metals Research said, “This alliance with Galaxy will lead to improved research and production processes for special purpose alloys, better communications between academic research groups and business operations, and greater engagement between top academic groups in China and their colleagues worldwide. For over half-a-century, IMR has made strategic contributions to China’s economic growth and has achieved many technological breakthroughs in science and engineering, receiving over 400 awards. We are expanding this work now, with Galaxy.”
Michael North said: “I am very happy to sign these cooperative agreements and honored to work with our associates in Yulin and Shenyang. Their commitments address market concerns about open, efficient access to magnesium, the environmentally-responsible green metal of the future, deployed alongside expert scientific services. This represents another step in our long-term strategy: to join American and Chinese people in making significant and practical contributions to reduce global warming, forging new bonds of understanding, investment and scientific collaboration between our people, in concert with all nations of the world.”
About Galaxy Magnesium
Galaxy is the world’s premiere direct source of magnesium, revolutionizing entire industries with light, strong, versatile, durable and green magnesium – superior in many ways to steel or aluminum alloys. An international company based in the United States, Galaxy is streamlining global supply chains, offering custom alloys for unparalleled performance and delivering “Galaxy Guarantee” — all-inclusive pricing, direct from the most productive mines in the world. From automotive, aerospace, energy and construction to pharmaceuticals, Galaxy Magnesium is paving the way to a lightweight future through reasonable, stable cost, guaranteed quality commercial magnesium. With offices in New York, Atlanta, Geneva, Honolulu and Xi’an, Beijing and Shanghai, Galaxy is well positioned to responsively serve global markets. Join the #MagnesiumRevolution by visiting www.GalaxyMagnesium.com and following us on LinkedIn.
About Shaanxi Yulin Magnesium Group
Shaanxi Yulin Magnesium Group Co., Ltd., established in 2020, is a comprehensive platform covering upstream production, reserves and finance. It is one of the largest magnesium producers in the world. The Group cooperates with magnesium mines and manufacturers, centered in Shaanxi Province, with an initial dedicated reserve supplemented by additional monthly production of magnesium. The company serves national strategic needs, economic development, and the needs of world customers, with targeted installation of international advanced technology and equipment.
About Institute of Metal Research
The Institute of Metal Research, part of the Chinese Academy of Sciences, was founded in 1953. IMR is an indispensable base for materials science and engineering research in China. Research focuses mainly on high performance metallic materials, new types of inorganic nonmetallic materials, and advanced composite materials. IMR’s research is directed towards the understanding and characterization of materials properties, structure and performance, as well as materials synthesis and fabrication, processing, and application. The mission of the Institute is to develop advanced materials technology, thus serving the nation, society and mankind. As of 2019, IMR had a staff of 1800, including 797 researchers and support members for technical service, and more than 170 research professors.
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