Innov-X Systems Acquired by Olympus NDT

Olympus NDT has acquired Innov-X Systems Inc., a Massachusetts-based maker of handheld chemical and elemental analyzers.

Olympus NDT, a division of  Japan's Olympus Corp., is a testing and inspection instrumentation company.

Innov-X will become a business division of Olympus NDT, and will retain its management team and employee base following the close of the sale.

Innov-X serves the industrial, transportation, security, environmental, recycling and energy markets, with a portable X-ray fluorescence device that can determine the presence of elements such as lead or mercury.  

Ex-Im Bank Approves Export Financing for Sale of Chinook Sciences Equipment to Turkey

Chinook Sciences, Cranford, N.J., a manufacturer of equipment for the metals recycling industry, has landed a contract to supply equipment and technology to the Turkish company DT Metal Geri Kazanim Teknolojileri Sanayi ve Ticaret AS. The equipment will allow the company to build a plant that recycles metal and in the process recovers gas and produces electricity. 

A portion of Chinook’s equipment sale to the Turkish firm ($10 million) has been backed by a $10 million medium-term loan from Northstar Trade Finance, Inc., Houston, Texas, which has been guaranteed by the Export-Import Bank of the United States.

Using Chinook's RODECS gasification technology, DT Metal will remove organic metal coatings such as plastic, rubber, oil, lacquer and paint, and break them down into component molecules of carbon monoxide and hydrogen, which form a synthetic gas. The gas will then be burned for steam generation and converted to electricity.    

"Together with DT Metal, we are building the first plant in the world that recycles metal and at the same time recovers the energy and produces electricity," says Rifat Chalabi, Chinook president. "Chinook's state-of-the-art RODECS technology not only will enable the plant to have net electricity production, but also will promote recycling in an environmentally correct way that meets all European and U.S. emission requirements.”