NanoXplore announces acquisition of Canuck Compounders

NanoXplore announced that it has acquired all of the issued and outstanding shares of Canuck Compounders, a privately held plastic recycling compounder that provides sustainable and engineered recycled plastic compounds for use in transportation, building and construction, agriculture and packaging markets. Canuck's manufacturing facility, based in Cambridge, Ontario, has a production capacity of approximately 40 million pounds annually."I am very pleased with this acquisition and would like to welcome Canuck's team to the NanoXplore family," said Dr. Soroush Nazarpour, Chief Executive Officer of NanoXplore. "This acquisition is strategically aligned with our growth initiatives and significantly increases our graphene compounding capability, especially in recycled plastics and will enable us to form strategic partnerships with end customers. In addition, Canuck has a strong relationship with recycled plastic suppliers that ensures a smooth and reliable supply of post-consumer and post-industrial recycled plastics. This transaction will enhance our technical expertise in recycled plastic compounds and bolster our top-line by approximately $20 million annually, without considering revenues derived from graphene inclusion."