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Article: Arc Machines, Inc. Announces Acquisition of Exel Orbital Systems Assets.
- Article from:
- Biotech Week
- Article date:
- August 27, 2008
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Arc Machines, Inc. ("AMI" or the "Company") announced that it acquired certain assets of Exel Orbital Systems ("Exel") of Santa Monica, California, as well as certain intellectual property related to Exel's automated orbital welding products (see also Marwit Capital).
Founded in 1989, Exel designs, produces and markets specialty orbital welding equipment for use in high purity and other Tube welding applications and holds several patents and patent applications related to its products. Kevin McGushion, founder and sole shareholder of Exel Orbital Systems, said, "Exel products coupled with the market leadership and customer support of AMI will provide a valuable ...