LRM Industries LLC Acquired from NOVA Chemicals and Envirokare Tech
ROCKLEDGE, Fla. — The former LRM Industries, LLC, headquartered in Rockledge, Florida, has been acquired from NOVA Chemicals Inc. and Envirokare Tech, Inc., which have owned the company as a joint venture since 2005. A group of investors led by Zesiger Capital Group LLC funded the transaction that resulted in the recapitalization of the former company into LRM Industries International, Inc. The inventor of LRM’s unique award winning, patented technologies, Dr. Dale E. Polk, remains as a stakeholder in the new company and will help drive its growth as Chief Technology Officer and member of the board of directors.
Said Dr. Polk, “We are staged to show the world how our one-of-a-kind technologies enable new and unmatched design possibilities for very large, top quality, and feature rich thermoplastic composite components and products. Our customers have been pioneers right alongside us in providing unprecedented levels of value in their markets with TPF ThermoPlastic Flowforming(TM) and STF Sheetless ThermoForming(TM).”
Jim Callough, President and CEO of the new LRM added, “NOVA and Envirokare helped us navigate through the stages of emerging from a technology development entity to a robust commercial production business. Under our new ownership, we are now positioned strongly to take our young innovative company to the next level and beyond. It’s exciting to have competitive differentiation across the board, and constantly to be challenging the paradigms of thermoplastic / composite product design and production.”
LRM Industries International, Inc. has its manufacturing facility in Rockledge, Florida where it operates three large-scale production lines custom-engineered by the company to produce using its unique TPF and STF process technologies.
Company Information
LRM Industries International, Inc. is a company established to commercialize TPF ThermoPlastic Flowforming(TM) technology, a radically different and award-winning process technology for producing large, feature-rich, long-fiber reinforced thermoplastic composite parts in one fully automated molding operation. With the TPF ThermoPlastic Flowforming(TM) and STF Sheetless ThermoForming(TM) technologies, LRM enables innovative applications and designs in the use of plastics and thermoplastic composites to produce very large unitary structures where, to-date, it has been viewed as cost prohibitive or lacking in strength and structural integrity.
For more information, visit www.lrmind.com .
About Tabitha Berg
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Related Topics: Business, Mergers and Acquisitions, News: Plastics, Newsdesk, State: Florida.
Tags: CEO Jim Callough, LRM Industries International, STF Sheetless ThermoForming, ThermoPlastic Flowforming
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