MEMPHIS, Tenn. (News release) -- Buckman has acquired CiDRA Chemical Management Inc. (CCMI). Buckman took ownership of CCMI's outstanding stock, a wholly owned subsidiary of Connecticut-based technology innovation leader CiDRA Holdings Inc.
For the last 20 years, CiDRA has made a name for itself in the manufacturing and processing arena by creating new tech-and-data driven measurement and management solutions for commercial markets, such as mining, oil and gas and genetic laboratories.
As part of the transaction, Buckman will have a global, exclusive, and perpetual license to a family of CCMI's intellectual property, including patents for measuring entrained air in the paper, pulp, biorefining, bioprocessing and ethanol industries.
This technology is non-intrusive, provides real-time continuous data and requires no downtime to install. But most importantly, the data it provides enables manufacturers to reduce the amount of variability in certain aspects of their manufacturing process.
In addition to the exclusive rights to offer the products to the paper, pulp, biorefining, bioprocessing and ethanol industries, Buckman will also be able to offer these solutions non-exclusively to the oil and gas, automotive, metalworking and paint and coatings industries.
The current CCMI employees will also become part of the Buckman family and integrated into its existing workforce. Sales of the entrained air technology will begin with customers in North America, with global sales to follow.
Buckman is a privately held, global specialty chemical company with headquarters in Memphis, Tenn., USA.
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