Industry News

Raymor Industries Acquires a Profitable Company and Completes its One-Stop Shop for its Coating Division

Published on 2007-09-20. Author : SpecialChem

BOISBRIAND, QUEBEC -- Raymor Industries Inc., a leading developer and producer of single-walled carbon nanotubes, nanomaterials and advance materials, announces that its wholly-owned subsidiary, Raymor Aerospace has signed a conditional agreement for the acquisition of a company specializing in the making of metal parts and the rectification of precision for the aeronautic and industrial sectors. As announced previously and in conformity with the expectations of certain major manufacturers in the aerospace sector and for which Raymor seeks to complete its accreditations in 2007, this strategic acquisition allows Raymor Aerospace to rapidly implement a one-stop shop for its specialized coating services in the aeronautic and industrial sectors.

The identity of the acquisition and the financial details of the transaction remain confidential due to agreements in place. Furthermore, this acquisition is subject to the usual TSX Venture Exchange approval. It is anticipated that this transaction will be close within the next few weeks so that the final phase of the due diligence and the completion of other customary formalities.

With respect to the company that is the subject of an acquisition agreement by Raymor Aerospace, during its nine years of existence, it has developed an expertise recognized by the industry and has maintained an annual increase averaging its sales turnover of more than 15% per year since the beginning of its operations with a positive profit margin of $500,000 during its last year..

Stephane Robert, President and CEO of Raymor Industries had the following to say: "This transaction is part of our acquisition mandate; it is about a profitable company offering a synergy to our current production divisions of advanced materials and nanomaterials, while making a significant contribution to the increase of the sales turnover of Raymor". "Other acquisitions are currently in negotiation for our other divisions", adds Mr. Robert.

About Raymor Industries

RAYMOR INDUSTRIES INC. has as its mission to become a leading developer of high technology for the production of single-walled carbon nanotubes, nanomaterials and other advanced materials for high value-added applications. Raymor Industries operates three wholly-owned, industrial subsidiaries, Raymor Nanotech, Raymor Aerospace and AP&C Advanced Powders and Coatings, specializing in nanotechnology and advanced materials, and comprising four divisions: (1) nanotechnology products, including nano-powders, nano-coatings, and single-walled carbon nanotubes (C-SWNT) for "the applications of tomorrow"; (2) thermal spray coatings, which largely targets military, aeronautical, aerospace, specialized industrial, and mining applications; (3) spherical metallic powders, primarily used for biomedical and aerospace applications; and (4) net-shape forming, a component manufacturing technique used for ballistic protection and other aerospace and military applications. Raymor holds the exclusive rights to more than 20 patents throughout the world, with other patents pending.

Source: Raymor Industries Inc.

The Chemicals Sales & Marketing Toolbox
Back to Top