The company formerly known as Tylerstone Ventures Corporation will henceforth operate under the name nCoat Inc., which, it says, best reflects management’s strategic outlook and planning.
The name change became effective when Tylerstone acquired all issued and outstanding shares of nCoat Automotive Group, Inc. Now nCoat will focus on development of proprietary nanotechnology coatings formulations into commercially viable nano-formulated coatings and materials in multiple industries including the automotive, diesel engine and aerospace industries.
Management plans to fund the acquisitions of profitable high performance coatings (surface treatment) companies from within the current highly fragmented cottage industry environment and to provide operating and expansion capital for growth of those acquisitions. After acquisition, the company will introduce new nano-formulated coating into the acquired product mix, thereby raising performance of the coatings leading to increased market share.
The company currently operates two wholly owned subsidiaries:
(1) High Performance Coatings, Inc. (HPC), a 25-year-old Oklahoma company that was founded on the sales of thermal barrier, corrosion resistant, lubritic and appearance high performance coatings for the motor sports industry. nCoat has expanded HPC’s market-base to include manufacturers of commercial trucks, RVs, defense applications, motorcycles, aerospace components, aviation parts, oil and gas industry suppliers, energy producers and other sophisticated users, while continuing to provide coatings and services to the after-market customer.
(2) nTech, Inc., a Delaware corporation that is a wholly owned subsidiary of nCoat, designated to develop and hold proprietary intellectual property for the group and develop licensed coatings facilities on-site at their customers manufacturing plants.
nCoat will operate nTech, High Performance Coatings, Inc., and other future acquisitions to develop, integrate and sell commercially viable proprietary nano-formulated and traditional coatings products.
The general global coatings industry is a long-established, $30 billion market with multiple competitors. The competition in the high performance coatings industry, a market segment of more than $2 billion in annual revenues, is characterized by hundreds of small privately owned coatings companies with market share in several market segments.