National leader in precision polymer castings will create and retain 30 nanotechnology jobs through collaboration with College of Nanoscale Science and Engineering and Arsenal Partnership

Watervliet, New York (November 30, 2011) – Officials from the College of Nanoscale Science and Engineering (CNSE) of the University at Albany, the Arsenal Business & Technology Partnership (Partnership), and the Watervliet Arsenal today announced that Cleveland Polymer Technologies has rejected overtures to move outside of New York and instead will establish its headquarters and expand its operations at the Watervliet Arsenal.

The company plans to create and retain 30 high-tech jobs in New York’s burgeoning nanotechnology industry, and utilize 30,000 square feet of space – triple the size of its existing facility in Elmira, NY – as part of a $15 million investment that includes fit-up and renovation of space at the Arsenal and the acquisition of state-of-the-art equipment.

The nation’s largest manufacturer of precision polymer concrete castings, CPT has outgrown its current facility and had been considering relocation to Ohio. Instead, the company chose to remain in New York because of the availability of suitable manufacturing space at the Arsenal, access to world-class research and a highly trained workforce through a partnership with the UAlbany NanoCollege, and the ability to collaborate with leading global high-tech companies at CNSE’s Albany NanoTech Complex and the Arsenal.

“The story of Cleveland Polymer’s relocation to the Watervliet Arsenal is yet another chapter in the growing success story in our region,” said New York State Assembly Majority Leader Ron Canestrari. “Anchored by support from the University at Albany’s College of Nanoscale Science and Engineering, the Arsenal Partnership continues to actively attract high tech companies and the private sector investment and quality job opportunities they bring to the once endangered Watervliet Arsenal.”

Panos Angelopoulos, President of Cleveland Polymer Technologies, said, “This is an exciting day for Cleveland Polymer Technologies. We are thrilled to have the opportunity to remain in New York while taking a critical step forward in building our company’s future. With the support of Assembly Majority Leader Canestrari, access to existing technical resources and services at the Watervliet Arsenal, and the collaboration with the world-class research center at CNSE along with the leading high-tech companies present, we are poised to accelerate the development of CPT’s innovative technologies, expand our customer base, and add high-tech jobs to the economy.”

Dr. Alain E. Kaloyeros, Senior Vice President and CEO of CNSE, said, “The announcement that Cleveland Polymer Technologies will remain and grow in New York State is testimony to the success of New York’s innovative strategy to build a world-class nanotechnology ecosystem, as embodied by the leadership and advocacy of Assembly Majority Leader Canestrari, under the overarching vision, support and guidance of Governor Cuomo and Assembly Speaker Silver.  New York is winning the global competition to attract high-tech jobs, companies and investment by leveraging the unparalleled assets and resources of the UAlbany NanoCollege to give new vibrancy to urban areas, revitalize brownfields, invigorate landmark facilities and historical assets such as the Watervliet Arsenal, and create new opportunities to drive economic development and community renaissance.”

Peter Gannon, President of the Arsenal Business and Technology Partnership, said “Cleveland Polymer continues the trend of high tech companies relocating to Tech Valley, and at the Watervliet Arsenal site.  We are excited to see another large portion of space being renovated for use by a company that is sure to play a large role in Tech Valley.  With M+W, Vistec and now Cleveland Polymer as Arsenal residents, the draw of the Watervliet Arsenal will continue to rise.”

A 120,000-square-foot former machine shop built during World War I, Building 125 is also occupied by Vistec Lithography, a major customer of CPT technology. CPT first came to Watervliet during Vistec’s grand opening, when Vistec moved from Cambridge, England to the Arsenal. The other anchor in Building 125 is the M+W Group, U.S., which is currently finishing up construction on its new North American headquarters, which has been relocated from Dallas, Texas. Co-location with these industry leaders, as well as the research CPT will do in collaboration with the NanoCollege, will allow the company to better market its products and stimulate new business.

CPT’s precision polymer castings technology replaces traditional cast iron, aluminum, steel, granite and conventional cement concrete in a variety of machine tool bases used in nanoelectronics manufacturing. The result is cost-effective production of lighter, stronger products that reduce vibration and are energy efficient and environmentally safe, while prolonging the life of high-tech machine tools.

Already a supplier to high-tech equipment manufacturers serving the nanoelectronics, automotive, graphic arts and medical industries – such as Applied Materials, ASML, KLA-Tencor and Veeco, among others – CPT is now expanding into additional sectors, including transportation, energy, environmental treatment and architectural restoration.