NanoXplore, manufacturer and supplier of high-volume graphene powder for use in industrial markets, has announced that it acquired Sigma Industries in a deal that included cash and stock components. The cash component is approximately CAD$9 million (around $6.8 million USD) and the stock value is approximately CAD$9.8 million (almost $7.5 million USD).
Sigma Industries is a manufacturing company specializing in the manufacture of composite products, with two operating subsidiaries and 275 employees. It operates in the markets for heavy trucks, buses, public transit, machinery and wind energy. Sigma sells its products to original equipment manufacturers and distributors in the United States, Canada and Europe.