Fibron Technologies Establishes Finnish Subsidiary to Expand European Footprint

(Nanowerk News) Fibron Technologies, Inc. has announced the formation of Finano Ltd. Oy, a wholly owned Finnish subsidiary, based in Helsinki, Finland. The company has been established for the purpose of developing advanced manufacturing capabilities for Fibron and providing a footprint for Fibron's expansion in Europe. The subsidiary has also entered into a binding purchase agreement to acquire the assets of Panipol Ltd. Oy.
"Over the past 18 months our company has established important technology collaborations with leading European chemistry and materials science companies. 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 Dr. Christian Behrenbruch, CEO of Fibron Technologies, Inc.
In addition to establishing a European footprint for the company to facilitate technology collaborations, the company has agreed to purchase the assets of Panipol Ltd. Oy as part of setting up operations. Dr. Behrenbruch commented, "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."
About Fibron Technologies, Inc.
Fibron Technologies, Inc. was founded in July 2008 by scientists from The University of California, Los Angeles (UCLA) and The Aerospace Corporation. Fibron has developed advanced organic materials based on conducting polymer technology for a variety of clean tech, energy and consumer electronics applications.
Source: Fibron Technologies (press release)
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