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Posted: June 1, 2009
Nanochemistry Firm Xurex Names New CEO
(Nanowerk News) Xurex, Inc. today announced the appointment of William E. Loven as its Chief Executive Officer. The company chose Loven because of his track record of growing specialty chemicals businesses at impressive rates. Most recently, he served as President, North America, for Dorf Ketal Chemicals, during which he increased the firm's revenues more than eight-fold in a two year period. Prior to his tenure at Dorf Ketal Chemicals, Loven served as President and Chief Executive Officer, North America, for Sika A.G. Sika is a $4.5 billion manufacturer of chemicals used in the construction industry. In leading the company's North American business, Loven grew the region's revenues from $271 million to $350 million in two years. He has also served at Illinois Tool Works as General Manager of its ITW Plexus Division. While there, he led Plexus out of the starting blocks to a global leadership position in adhesives for the structural bonding of composites.
Xurex claims their products are true nanotechnology solutions for improving corrosion control, abrasion resistance and substrate durability. The products are ground breaking in their capabilities. The unique patent-pending nanotechnology chemistry from Xurex uniquely penetrates the substrate to which it is applied and chemically cross-links with the free reactive moieties within the material. The result is a powerful and irreversible change in the sub-surface and surface level molecular structure that results, for example, in steel pipe with dramatically improved strength, corrosion and abrasion resistance. Already, Xurex products are seeing rapidly growing use in demanding applications such as treating steel down-hole well pipe in extraordinarily corrosive oil wells.
In joining Xurex, Loven commented, "I am excited to be joining a firm with truly unique technology. I view the Xurex technology as 'Blue Ocean' technology that will not only disrupt existing technologies, but also create virtually unlimited new markets where none exists today. I look forward to working with Xurex partners and end-users to expand our presence in existing markets and to identifying new markets around the globe which can benefit from the company's solutions."
"We are fortunate to have Bill Loven join our team as Chief Executive," commented Doug Holt, Xurex Chairman of the Board of Directors. "He brings with him a proven track record of success and he clearly has the industry knowledge, experience and leadership to bring Xurex to the next level. I look forward to working closely with him as we exponentially grow the Xurex business and enter new markets to bring the benefits of our ground-breaking technology to organizations worldwide."