LOS ALAMOS, N.M., July 2 /PRNewswire-FirstCall/ -- Manhattan Scientifics (Pink Sheets: MHTX - News) announced today that it has acquired Metallicum, Inc. and its licensed patented technology. The announcement came from MHTX's affiliate Albuquerque factory, where New Mexico Senator Jeff Bingaman said, "I believe the merger of Manhattan Scientifics with Metallicum will have a very positive effect on New Mexico and the country. The lightweight nano metals the company will produce will have the potential to revolutionize a whole range of industries, from transportation to health care. This merger is another great example of how our national laboratories can partner with the private sector and create vital jobs while meeting some of our nation's most pressing needs."The transaction includes all of Metallicum's licensed intellectual property related to the design and high-volume nano-fabrication of nano-structuring metals for medical components as well as for transportation applications. The Company intends to establish manufacturing partner relationships with major Fortune 500 metals companies. "Our business plan includes strategic partnering with significant customers in the medical device & prosthetics industries as well as in auto, truck, & aircraft manufacturing industries," said Marvin Maslow, founder & chairman emeritus of Manhattan Scientifics. "We are working towards regaining our full-reporting SEC status and trading on the OTC board."
Company CEO Manny Tsoupanarias commented, "With the acquisition of Metallicum, Manhattan Scientifics is re-inventing itself as a 'green company.' This move is intended to enable us to accomplish our goal of profitability for our shareholders."
The Metallicum division will produce and license the super strong metals using nano-technology developed by scientists at Los Alamos National Laboratory in conjunction with their colleagues in Russia. "The advantages are easy to understand because a stronger metal means using less material for the same purpose. Less material translates to lighter weight and reduced environmental impact. For example, a lighter weight car uses less gas," said Terry Lowe, Ph.D., co-inventor of the nano-structured metals process, president and chief scientist of the Metallicum division. Lowe continued, "A lightweight industrial metal, like aluminum, can be manufactured to have the strength of steel. The technology is expected to trim thousands of pounds from airplanes and hundreds of pounds from cars without sacrificing structural strength or adding significant cost. The fuel savings to the American public will be significant as will the number of jobs created for Americans, particularly in New Mexico."
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