Altair Nanotechnologies, Inc., a company engaged in developing metal oxide based nanomaterials, titanium dioxide pigment technology, and manufacturing techniques for novel nanomaterials and nanostructures, announced that management and the company’s Board of Directors have initiated a restructuring of the company.
The Board of Altair Nanotechnologies Inc. has approved a plan to restructure the company. Management has been directed to identify and effect one or more strategic transactions, most likely a sale or joint venture contribution, involving the disposition of the company’s rights in its exploration stage mining project in Tennessee as well as the centrifugal jig. The purpose of the restructuring is to permit the company to concentrate all of its resources on nanotechnology and materials science. Employees associated with these assets will be reassigned within the company.
The reorganization is intended to maximize management focus on nanomaterials, nanotechnology and material science in the most promising markets including: materials and technology for TiO2 pigment, TiO2 electrodes for titanium metal, pharmaceutical delivery structures (TiNano Spheres™), pharmaceuticals (RenaZorb™), dental materials and nanostructured materials for lithium ion batteries and fuel cells. When the restructuring is complete, the company will be organized into a one-division operation with a dedicated nanotechnology and advanced material science mission and focus.