Jun 6 2006
UTEK Corporation and Trio Industries Group announced today that Trio Industries Group, Inc. has acquired Advanced Powder Coating Technologies, Inc., a wholly owned subsidiary of UTEK Corporation, in a stock transaction.
Advanced Powder Coating Technologies, Inc. holds a North American exclusive license to an innovative clear powder coating technology developed at E.I. du Pont de Nemours and Company which allows for the powder coating of wood and other cellulosic materials utilizing a clear coat process. The company's objective is to develop improved powder coating formulations having enhanced mechanical properties that are low temperature or photo-curable and can be applied onto non-metallic surfaces such as wood and exotic hard woods.
"An extremely desirable outcome of this technology is the ability to apply this clear coat onto a wide variety of surfaces to form thin and smooth films," said David Lazzeri, Business Director, DuPont Advanced Industrial Coatings Americas. Mr. Lazzeri added, "We look forward to the opportunity to work with Trio Industries Group, Inc. as they seek to commercialize this technology for the wood industry."
"Trio Industries Group, Inc. is enthusiastic about this technology and its potential for being a suitable and practical addition to our powder coating efforts to efficiently coat wood and other cellulose based materials. We are looking forward to expanding upon this technology in a development project at the School of Polymers and High Performance Materials at the University of Southern Mississippi," said Rob Gyemant, Chief Executive Officer of Trio Industries Group, Inc. "We believe that a clear coat powder process for exotic hard woods can now be achieved based on this powder coating process."
"UTEK is pleased to consummate this technology transfer with Trio Industries Group, Inc. and we look forward to continuing our efforts to identify additional technology acquisition opportunities for its consideration," said Joel Edelson, Vice President of Technology Licensing for UTEK Corporation.
http://www.dupont.com, http://www.trioindustries.net and http://www.utekcorp.com