After learning that Great Western Minerals Group had plans to close its Great Western Technologies Inc. subsidiary — a Troy-based manufacturer of specialty alloys used in the aerospace, automobile, industrial, computer, and high-tech industries — a group of investors stepped in and acquired the business.
“We formed (Eutectix) once we learned they were ready to dissolve the company,” says Chief Marketing Officer Robert Russotti, who — along with Henry Lee, Thomas Smith, and John de Neufville — founded Eutectix earlier this year. The foursome worked together at Voltaix, a manufacturer of specialty chemicals often used in the production of solar cells and semiconductors.
“We see Troy as a center for battery production and a center for manufacturing talent,” Russotti says. “There’s a good pool of people here, so we’re hopeful for the future.”
As part of the transaction, Eutectix — a play on the word “eutectic,” the lowest melting point of a mixture of two or more metals — acquired Great Western Technologies’ assets, including two 12,000-square-foot manufacturing plan and a five-person staff. There, the company will manufacture and process metal alloys and battery electrodes, used for hydrogen storage, battery, and magnet applications.
“We have enormous manufacturing capability in those two buildings,” Russotti says. “We are trying to expand in some new markets, but we are obviously trying to serve the customers we already have.”
While Russotti won’t name names, he says the company’s clients range from raw material suppliers to domestic auto manufacturers, aerospace suppliers, and several rechargeable battery manufacturers. “We don’t make batteries — we make the materials for battery makers,” Russotti says.
Financial terms of the deal were not disclosed.