Nanomat to Spin-off Nanova, LLC, and Hires New CEO

from the nano-positions dept.
Sandra McVeigh writes "PITTSBURGH, Pa. (July 31, 2002) Medardo Monzon has been appointed CEO of Nanova, LLC, a spin-off company of Nanomat, Inc., a growing nanomaterials and technology firm based in Western Pennsylvania."

"Mr. Monzon will assume his new post in early August 2002. He formerly worked at International Paper where he was General Manager for the company's Specialty Packaging business based in Kaukauna, Wis."

"'Nanova will be the first large-scale manufacturing facility worldwide to produce NanoTalc and NanoCalc, products originally developed in our laboratories,' said Srikanth Raghunathan, President of Nanomat, Inc. 'We are among the first who have commercially produced nanomaterials that can be used to improve products in today's marketplace, especially those from the paper, plastics, paint, pharmaceuticals and cosmetics industries.'"

"Shree Kumar, Nanomat's Vice President, indicated that initially they plan to hire 20 Nanova staff members, consisting primarily of chemists, process engineers and line operators. 'In the future, we envision a 200,000-square-foot Nanova facility that will provide upwards of 100-200 new jobs,' she said."

"For the present, Nanova will be headquartered at Nanomat's 35,000-square-foot production facility in North Huntingdon, Pa. Nanomat has already been approached by a number of investors and strategic partners who are interested in investments, partnerships and strategic alliances."

"Nanomat, Inc. is located at 1061 Main Street, North Huntingdon, Pa. 15642-7425. Phone: 724-861-6120. Fax: 724-861-6119. Web:"

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