Terves Inc. expanding magnesium foundry

The planned additions also enable the company to support aerospace and defense magnesium applications in addition to Terves’ position in the dissolvable oilfield tool market.

Terves Inc. announced groundbreaking on a 12,000-squarefoot expansion to its existing magnesium foundry.

Another Euclid company is expanding its operation.

Last month, Terves Inc. announced groundbreaking on a 12,000-squarefoot expansion to its existing magnesium foundry, which is currently about 10,000 to 15,000 square feet.

Terves Inc., founded in 2013 and located at 24112 Rockwell Drive, is an H3-classified magnesium metal processing facility, designing, developing and manufacturing dissolvable metals and dissolvable elastomers used for making frac balls, plugs, slips, seals and several other components used in oil and gas well completion and production.

According to company news release, the expansion enables Terves to further expand its metal processing, heat treatment, machining and storage capabilities.

Plans include additional permanent mold and materials handling, extra storage space and the addition of sand casting, squeeze casting and diecasting capabilities for custom magnesium and magnesium alloys and composites.

The project also includes further expansion of build-to-print component Computer Numerical Controlled machining services.

The planned additions also enable the company to support aerospace and defense magnesium applications in addition to Terves’ position in the dissolvable oilfield tool market, the release stated.

Andrew Sherman, the company’s founder and president, said dissolvable metals are the new composites as far as oil field tools are concerned.

“Oil field tools made from composite materials were adopted in the industry about two decades ago and today occupy a sizable market share,” he said. “We are seeing a major adoption and growth trajectory for oil field tools made from dissolvable magnesium materials.”

At the end of 2017, roughly 2 percent of all frac plugs deployed in the field were being made using dissolvable metals, Sherman added. As a result, the market is expected to grow to 5 percent of all frac plugs deployed in the field by the end of the year — a 250 percent growth in one year, with adoption and use increasing through 2025.

“We are seeing tremendous innovation as the industry gains extensive field experience with these new engineered response multifunctional materials, including several new staging and completion tools engineered using dissolvable materials,” Sherman said. “Given the massive value-add of dissolvable tools, primarily eliminating post-completion drill-outs coupled with the ability to do longer laterals, we expect that dissolvable tools would replace over 30 percent of drillable tools used in well completion over the next three-to-five years.”

Terves is investing in further doubling of production capacity for cast and wrought magnesium products, the release stated.

“The expansion frees up space in existing facilities for initial production of new engineered response products, including revolutionary expandable structural materials and gas-generating reactive materials,” Sherman said.

Euclid Mayor Kirsten Holzheimer Gail said Sherman’s investment has been of great benefit.

“Terves’ expansion represents their continued commitment to innovation and growth in the city of Euclid.”