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Materia Acquires Cymetech's Poly-DCPD Business |
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Materia Acquires Cymetech's Poly-DCPD Business
PASADENA, CA. – September 2004. Materia, Inc. today announced its acquisition of Cymetech's polydicyclopentadiene (poly-DCPD) resin businesses. Cymetech, LLC, which started as a merger between B.F. Goodrich and Advanced Polymer Technologies, has been a leading supplier of high-quality dicyclopentadiene (DCPD ) monomers and poly-DCPD resins and technology. Included in the acquisition are intellectual property related to the use of Grubbs Catalyst technology for poly-DCPD, Cymetech's headquarters and molding technology center in Huntsville, Texas, and the Telene® and Prometa™ resin families. Cymetech retains its Ultrene® line of DCPD products.
"Materia and Cymetech have a long history of productive cooperation and unifying the Grubbs olefin metathesis technology in a single organization is an important milestone in achieving its successful commercial implementation," says Dr. Michael Giardello, Materia CEO and CTO. "The combined businesses will continue to pursue poly-DCPD molding opportunities in Reaction Injection Molding (RIM) with Telene™ and Prometa™ resin systems but will now also directly target significantly broader markets that are enabled by our combined ruthenium-based poly-DCPD technologies."
David Rosenberger, Materia's V.P. of Corporate Development, further commented, "Materia is now nicely positioned to pursue the full commercial value created by its metathesis technology. The combined resources and technologies provide, for the first time, the basis of a global polymer business based on DCPD monomer. We are very pleased with this development and are already discussing strategic alliances with several top-tier companies."
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