Global Materials LLC to acquire Specialty Materials Inc.
Global Materials will continue to deliver SMI’s advanced boron and silicon carbide fibers and materials products and explore new and additional markets.
Specialty Materials Inc. (SMI, Lowell, Mass., U.S.) has announced an agreement to sell the business to Global Materials LLC (Lowell). Both are privately-held companies.
Following the acquisition, Global Materials will continue to deliver SMI’s advanced fibers and materials products through its 35 employees to existing customers, while exploring new and additional markets. SMI’s president, Monte Treasure, will remain in his current role through 2020 to ensure a smooth transition and will report to Monica Rommel, CEO for Global Materials, at the close of sale. The acquisition is expected to close by December 2019.
“After leading the way in boron and silicon carbide fibers manufacturing and distribution for more than 35 years, we recognized new opportunities due to the unique combination of properties to expand their application into satellite and hypersonic vehicles,” says Monte Treasure, president of Specialty Materials Inc. “We’ve worked closely with Monica Rommel, Global Materials’ CEO, for many years. She is an exceptional leader with a remarkable vision for the future. I couldn’t be more enthusiastic about her ability to take our teams’ successes to the next level.”
Related Content
-
Infinite Composites: Type V tanks for space, hydrogen, automotive and more
After a decade of proving its linerless, weight-saving composite tanks with NASA and more than 30 aerospace companies, this CryoSphere pioneer is scaling for growth in commercial space and sustainable transportation on Earth.
-
Recycling end-of-life composite parts: New methods, markets
From infrastructure solutions to consumer products, Polish recycler Anmet and Netherlands-based researchers are developing new methods for repurposing wind turbine blades and other composite parts.
-
Cryo-compressed hydrogen, the best solution for storage and refueling stations?
Cryomotive’s CRYOGAS solution claims the highest storage density, lowest refueling cost and widest operating range without H2 losses while using one-fifth the carbon fiber required in compressed gas tanks.