July 12, 2014 5:14 PM ET

Chemicals

Company Overview of MesoCoat, Inc.

Company Overview

MesoCoat, Inc. develops wear and corrosion solutions using surface engineering technologies. It offers CermaClad, a metal cladding solution for corrosion, wear, and erosion applications. The company also provides metal coating solutions, ceramic-metallic materials, and cladding process solutions. Its solutions are used for OCTG, oil and gas, marine, infrastructure, transportation, aerospace, defense, power generation, energy, automotive, chemical and petrochemical, desalination, nuclear, metal processing, refining, pulp and paper, food processing, hydrometallurgy, and metal production applications, as well as in public utilities. The company was founded in 2007 and is based in Euclid, Ohio. ...

24112 Rockwell Drive

Euclid, OH 44117-1252

United States

Founded in 2007

Phone:

216-453-0866

Fax:

216-404-0054

Key Executives for MesoCoat, Inc.

Founder
Age: 50
Chief Operating Officer
Director and Chief Executive Officer of Abakan Inc
Age: 61
Chief Technology Officer
Vice President of Business Development
Age: 52
Compensation as of Fiscal Year 2014.

MesoCoat, Inc. Key Developments

Abakan, Inc. and Mesocoat, Inc. Enters into Loan and Exchange Agreement with Kyrtos Limited

On October 30, 2013, Abakan Inc. and its majority owned subsidiary MesoCoat, Inc. entered into a Loan and Exchange Agreement with Kyrtos Limited (Kyrtos). The terms of the Agreement provide that MesoCoat issue two secured promissory notes to Kyrtos in the aggregate amount of $769,000, in exchange for $580,000 plus accrued interest due from Abakan to an affiliate of Kyrtos, and $180,000 due from MesoCoat to Kyrtos. The Agreement also provides for additional loans from Kyrtos to MesoCoat over the next three months in the aggregate amount of $540,000. The secured promissory notes, regardless of issue date, accrue interest at 5% per annum and mature on April 29, 2014.

MesoCoat Appoints Richard J. Burns as its New Chief Operating Officer

Abakan Inc. announced that its subsidiary MesoCoat has appointed Richard J. Burns as its new Chief Operating Officer. Effective immediately, Mr. Burns will oversee all internal operations including building company infrastructure and developing a creative, high-performance corporate culture. Mr. Burns joins MesoCoat with more than two decades of executive and corporate leadership experience, managing strategic growth for a number of engineering materials companies across Asia, Europe, South America and Mexico. Prior to joining MesoCoat, Mr. Burns served as the Vice President and General Manager of North American Engineered Materials for PolyOne Corp.

MesoCoat to Launch First Full-Scale Pipe Cladding Facility in Euclid, Ohio

Abakan Inc. announced that MesoCoat is set to begin operations at its first full-scale pipe cladding facility in Euclid, Ohio. This event is both a critical turning point in the history of MesoCoat and a major step toward the market introduction of its CermaClad(TM) seamless, metallurgical bonded clad pipe. The facility, which is expected to be one of the clad pipe manufacturing facilities in the United States when it is fully operational, will manufacture corrosion-resistant alloy (CRA) clad pipe for the oil and gas industry using the company's patented and proprietary fusion cladding technology. The next milestones for the CermaClad product team are to bring the facility to operational status - expected to occur in January 2013 - and then to complete manufacturing scale-up demonstration with the production of the facility's first 12-meter clad pipe. Once demonstration is complete, it will be followed by qualification and certification of the pipe to industry standards, leading to market introduction and rollout expected before midyear. MesoCoat expects to gradually ramp up production while using the facility for both qualification and filling low rate initial production orders, with the one-line facility expected to ultimately produce up to 60 million dollars of clad pipe annually. This new ladding facility will help to meet the high demand in the oil and gas industry for corrosion-resistant clad pipe. An estimated 70% of the world's oil reserves consist of heavy, high sulfur, ‘sour’ crude, which will require large amounts of corrosion-resistant pipes to enable safe and efficient production. Driven by the increased amount of development of corrosive oil and gas fields, industry experts expect the annual market for corrosion-resistant clad pipe to increase significantly over the next three years. Clad steel products that the company can produce are also used in other industries, including oil sands, downstream petrochemicals, mining and mineral processing, desalination, and oil refining and processing.

Similar Private Companies By Industry

Company Name Region
Connecticut Plastics, Inc. United States
General Films, Inc. United States
Warren Environmental, Inc. United States
Matsui International Company, Inc. United States
Javic, LLC United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
June 3, 2014
--
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
NYC2012, Inc. United States
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact MesoCoat, Inc., please visit www.mesocoat.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.