INGLEWOOD, CALIF. (Sept. 15, 1:30 p.m. ET) — Fibron Technologies Inc. has formed a wholly owned subsidiary in Helsinki, Finland, Finano Ltd. Oy, to serve customers in Europe.
The subsidiary also has entered into a binding purchase agreement to acquire the assets of conductive polymer company Panipol Ltd. Oy.
“Due to the historical commercial and research activities of companies like Neste, Panipol and other advanced materials companies, the Helsinki-area is a very rich resource for expertise in conducting polymer technology and therefore a very appropriate place for us to set up our regional operations” said Christian Behrenbruch, CEO of Fibron Technologies, in a news release.
“The Panipol team, in partnership with VTT (Technical Research Center of Finland), established sophisticated manufacturing R&D operations and we are keen to benefit from this experience, both for continuing to make certain classes of emeraldine materials for existing customers, but also scale-up of Fibron's advanced conducting polymer technologies.”
Inglewood-based Fibron was founded in July 2008 by scientists from the University of California, Los Angeles (UCLA) and the Aerospace Corp. The company has developed advanced organic materials based on conducting polymer technology.