Hytec Inc, a developer of imaging technology in Los Alamos, NM, is going global because of a merger with Imtec Corp, Ardmore, Okla, maker and seller of specialty dental products with sales in 84 countries and offices in Canada, Mexico, and Europe.
Under the agreement, Imtec will absorb Hytec, (no money will change hands in the merger), but the latter will remain headquartered in Los Alamos. Under the reorganization, Hytec will become the new company’s research and development arm. Imtec will manage all manufacturing operations in Ardmore and will continue to handle the global marketing and sale of products.
According to the companies, the newly merged company will have an estimated market value of $150 million.
[New Mexico Business Weekly, March 9, 2007]