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HandyTube Expands Delaware Facility

Wednesday, February 6, 2013

10,000-square-foot addition and other capital improvements aimed at meeting increasing global demand

CAMDEN, Del., February, 6, 2013 – In an effort to meet rising global demand for its seamless, stainless steel coil tubing products, HandyTube Corporation is in the midst of a series of capital improvements, including the recent completion of a 10,000-square-foot expansion to its facility here.

The additional plant upgrades, among them the revamping and addition of equipment and a new vacuum furnace that will be operational in July 2013, will substantially increase output--enabling HandyTube to meet the needs of its current customers and attract new buyers of its vast product range by providing new alloys and express deliveries.

“As the demand for our products continues to grow, HandyTube’s multi-year, customer-focused investment plan will significantly increase our output,” said John Coates, president and CEO of HandyTube. “The technological advancements we’ve implemented and the addition to our Camden facility, ensure the continuation of HandyTube’s industry-leading lead-times and enable us to realize productivity gains and maintain longterm competitiveness.”

With nearly 70 percent of the output from the Camden facility related to the energy market, HandyTube is poised to serve the world’s growing demands for energy of all types—from oil and gas to alternative energies, from on-shore to subsea.

Parent company, Handy and Harman, with assistance from the State of Delaware, furnished funds for the new addition. New construction was necessary to support the growth and to accommodate the manufacture of seamless tubing in Xtreme Lengths™ – some stretching longer than a mile – with no orbital welds.

“We are glad HandyTube chose Delaware as the place to grow its business,” Governor Jack Markell said. “It's great a forward-looking company like HandyTube is tapping into the steady stream of global energy demand through innovation and expansion.”

For more about the Camden facility, and the products HandyTube manufactures, click here: http://www.contentdelaware.org/?page_id=13&FID=458

HandyTube’s products are created from hollow extruded tubes that are passed through a process-intensive manufacturing environment of drawing, cleaning and vacuum-furnace annealing to result in high-quality seamless coil tubing of various lengths and diameters. HandyTube’s product offerings are available in a variety of high-performance, corrosion-resistant alloys and sizes ideal for even the most challenging environments. Its Precision Materials division, added in 2006, broadened the company’s capabilities to include smaller diameter tubes, enabling HandyTube to become a leading manufacturer of capillary and transport tubing ranging from 0.020" to 1.00" (0.51mm to 25.4 mm) in outer diameter.

In addition to the energy sector, HandyTube products are used in applications for chemical process and instrumentation, aerospace and defense, health care and life sciences, chromatography and shipbuilding. In November, HandyTube exhibited its products at the premier Offshore Korea 2012 in Busan, Korea, an exhibition sponsored by four of the world’s leading shipyards that are based in Korea: Hyundai, Daewoo, Samsung and STX. The exposure there proved fortuitous for HandyTube; and has resulted in demand growth in that region

About HandyTube

HandyTube Corporation, an indirect wholly owned subsidiary of Handy & Harman Ltd., is a premium manufacturer of Xtreme Length™ seamless, stainless steel coil tubing for diverse industrial, manufacturing and research industries worldwide. Learn more about our company online at www.handytube.com.

About Handy & Harman Ltd.

Handy & Harman Ltd. (HNH) is a diversified manufacturer of engineered niche industrial products with leading market positions in many of the markets it serves.  Through its operating subsidiaries, HNH focuses on high-margin products and innovative technology and serves customers across a wide range of end markets. HNH's diverse product offerings are marketed throughout the United States and internationally.

HNH's companies are organized into five businesses: Precious Metals, Tubing, Engineered Materials, Arlon, and Kasco.

HNH sells its products and services through direct sales forces, distributors and manufacturers’ representatives.  HNH serves a diverse customer base, including the construction, electronics, telecommunications, home appliance, transportation, utility, medical, semiconductor, aerospace, military electronics and automotive markets. Other markets served include blade products and repair services for the food industry.

The company is based in White Plains, N.Y. and its common stock is listed on the NASDAQ Capital Market under the symbol HNH.  Website: www.handyharman.com.