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The transaction, which was completed on December 23rd, 2010, confirmed that Mecnov will receive all intellectual properties of Contour Dynamics, including motion control software, trademarks and technological know-how, as well as, works-in-progress and accounts receivable from active contracts.
Contour Dynamics, is a privately-held company established in 2001. The company has been recognized for its expertise in multi-axis, automated, ultrasound inspection scanners for mission critical structures and parts of advanced composite materials used in aerospace applications.
Kennedy Gagnon, pesident of Mecnov, hailed the acquisition as an opportunity to allow the company to accelerate its expansion and market diversification. "Over the years, Contour Dynamics has delivered reliable automated NDT systems to numerous customers. It has a complementary product portfolio and is greatly respected within the industry. The high-level of customer satisfaction enjoyed by their clients, which reflects a similar scale by which Mecnov judges its success, made this transaction an ideal fit for both companies. Our immediate objective is to commit the necessary resources to further grow the business," said Gagnon.
Mecnov will operate its new, fully-owned subsidiary under the name of Contour Dynamics, Inc. and plans to transfer operations on March 31st, 2011 from the current location to a new facility, to be located also in Wichita. Mr. Kevin Simkins, former president of Contour Dynamics, will remain in charge of the operations.
Automated NDT systems are used by manufacturers of primary structures and components for aircraft, high-speed railroad transportation, oil & gas prospection and production, nuclear power generation, and many other applications. Ultrasound, radiography, and visual or infrared imaging are amongst the technologies used to perform NDT inspections in the manufacturing environment.