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Aerospace Company Pursues Coatings with Acquisition

Friday, March 5, 2021

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At the end of last year, aerospace technology holding company Xeriant, Inc. (Boca Raton, Florida) signed a letter of intent to acquire “significant interest” in Xeriant Europe, (XE) its strategic partner in Prague, Czech Republic.

The exchange aims to enable Xeriant to participate in XE’s business opportunities and technologies. The financial terms of the agreement were not disclosed.

Mongkolchon Akesin / Getty Images

At the end of last year, aerospace technology holding company Xeriant, Inc. (Boca Raton, Florida) signed a letter of intent to acquire “significant interest” in Xeriant Europe, (XE) its strategic partner in Prague, Czech Republic.

“Xeriant’s strategy of blending current income into our portfolio of technologies allows for a more balanced growth plan. Our main focus in this relationship was sourcing breakthrough products in the Czech Republic so that Xeriant can hold financial interests with high-income potential,” stated Xeriant CEO, Keith Duffy.

The pair has an objective to jointly establish relationships with other Czech aerospace-related companies. According to Xeriant, most have products that are already commercially viable but require funding to scale up production. Others are in the final development stage and need additional capital for their completion, testing and certification.

A number of the technologies are related to eco-friendly advanced materials, such as lubricants, fire retardants, specialized protective coatings, stealth metamaterials, adsorbents and high energy density batteries for electrification.

“XE has secured serious interest in these sustainable products from prospective customers across the globe within and beyond the aerospace industry, from the defense, automotive, maritime, construction, agriculture, manufacturing, mining and energy sectors,” the company noted in its press release.

“We have worked closely with Xeriant on identifying disruptive technologies which we believe will have significant commercial appeal in the United States. Our focus has been identifying well-established Czech companies that are ready to launch proven products. They often need access to funding to expand into new markets, especially the U.S.,” said XE’s President, Henry Biza.

   

Tagged categories: Acquisitions; Aerospace; Coatings Technology; EMEA (Europe, Middle East and Africa); EU; Good Technical Practice; Mergers; NA; North America

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