NanoHolding, Applied Nanotech merge to form PEN Inc.

By Frank Esposito
Senior Staff Reporter

Published: August 21, 2014 4:44 pm ET
Updated: August 21, 2014 4:48 pm ET

Image By: Joe Wilssens, Plastics News Scott Rickert

Related to this story

Topics Mergers & Acquisitions, Film & Sheet, United States

Nanotechnology firms NanoHolding Inc. and Applied Nanotech Holdings Inc. are merging to create PEN Inc., a publicly held firm whose product mix will include plastic-based nanocomposites and films.

A majority of shareholders in Austin, Texas-based Applied Nanotech already have approved the merger, officials said in an Aug. 15 news release. The official vote will take place Aug. 22 at a shareholders’ meeting in Dallas.

“It’s clear that [Applied Nanotech] shareholders see the growth potential of the combination,” Chairman Robert Ronstadt said in the release.

NanoHolding is the parent company of Valley View, Ohio-based Nanofilm Ltd. Nanofilm CEO Scott Rickert will serve as CEO of newly created PEN.

“My vision for PEN is to bring to the commercial marketplace advanced-performance products enabled by nanotechnology,” Rickert said. “Applied Nanotech, like Nanofilm, has exciting intellectual property, and I believe everyone on both teams is excited to roll up their sleeves and get to work right now.”

Rickert co-founded Nanofilm Ltd. in 1985 while a professor at Case Western Reserve University in Cleveland. The firm makes film products for the optical, automotive, marine, electronics and household markets. Most of Nanofilm’s firm's products are based on polyolefins, but epoxy, acrylic and polyurethane resins are used as well.

In March, Nanofilm debuted a nano-based liquid treatment for eyewear that cleans the surface, kills bacteria on contact, and retains the bactericidal property for up to five days. The spray-and-wipe formula is effective on frames, lenses and nosepads.

Applied Nanotech has used its CNT-brand composites to strengthen nylon and epoxy resins. The firm also makes nano-based films, pastes and inks.

In 2013, Applied Nanotech posted sales of $3.9 million — up from $3.6 million in 2012, but well off the firm’s $8 million sales total of 2010. Applied Nanotech posted a loss of $3.1 million in 2013 and has lost almost $11 million in total from 2011-13. The firm’s per-share stock price was at 8 cents in over-the-counter trading on Aug. 21.


Comments

NanoHolding, Applied Nanotech merge to form PEN Inc.

By Frank Esposito
Senior Staff Reporter

Published: August 21, 2014 4:44 pm ET
Updated: August 21, 2014 4:48 pm ET

Post Your Comments


Back to story


More stories

Molder goes to auction block

October 17, 2014 12:17 pm ET

An Illinois custom injection molding operation will be auctioned off after its owner decided to close the business.    More

Image

Plastikon expanding in Kentucky

October 17, 2014 11:24 am ET

Automotive supplier Plastikon Industries Inc. plans to more than double the size of its production facility in Leitchfield, Ky.    More

Image

OnePlastics Group brand created to cover seven different plastics firms

October 17, 2014 9:48 am ET

A Dublin-based company is launching a new brand to unify its plastics businesses into a single entity called OnePlastics Group.    More

Image

PolyOne denies report it's bidding for Klöckner Pentaplast

October 16, 2014 11:44 am ET

UPDATED — Compounding leader PolyOne Corp. is denying a report that it bid as much as $2 billion for film and sheet major Klöckner Pentaplast...    More

Image

New Amcor, Method project taking sustainability to a platinum level

October 16, 2014 11:28 am ET

Amcor Rigid Plastics will have a bottle production operation within a factory which is aiming to be the world's first LEED platinum certified manufact...    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events