ItN strengthens industrial coating business in independent business unit
As part of the actual process of restructuring the company, ItN Nanovation AG (ISIN DE000A0JL461) will concentrate its present activities in industrial coatings and contracted research in a new standalone business unit. By this means, customer demands can be met more successfully. In addition, a clearly defined separation to the activities in the field of water filtration will be achieved.
The new business unit will be running all operations like sales, product management, application development and fundamental research as well as production. The required know-how by means of staff as well as patents belonging to the business will be transferred.
The industrial coatings operation develops and successfully sells coatings with non-stick properties or other protective functionalities for optimization of industrial processes. The product line "Nanocomp MetCast" consists of separative coatings for metal smelting and automotive foundries, replacing the highly frequent use of separation agents.
Currently the product series Nanocomp MetCast BC is being introduced to the market, providing the first commercially available long-life coating for casting brass sanitary faucets. Additional products for smelting of high purity metals are under development.
In the field of contracted research, making up about one third of the revenues of the new business unit, mainly research contracts on special coatings for industry customers working e.g. in the field of home appliances, automotive and spacecraft with perspective of own production of the future products shall be worked on.
With the gained independence of the new unit the management expects it will be able to focus on its markets and customers and therefore will evolve in a very positive way.
Notice: this information was published in German on the 27th of April.