December 05, 2011
By: Larry Rulison, Business Writer
Source: Times Union
WATERVLIET — An Elmira company that makes polymer castings for manufacturing equipment used in computer chip factories is moving to Watervliet Arsenal.
The company, Cleveland Polymer Technologies, will move both its headquarters and manufacturing — and 10 jobs — to Building 125 at the Army facility, which is best known for making large caliber cannon for the military.
Panos Angelopoulos, president of Cleveland Polymer, said about a year ago the company realized it could no longer continue in its 10,000-square-foot facility in Elmira, where it lacked space for office functions.
The company was considering moving to Ohio, but in what appears to be an ideal fit, it landed at the arsenal, which leases unused space to more than 15 private companies, many of them involved in the high-tech sector.
Cleveland Polymer will get 30,000 square feet of space in Building 125 — and it will be close to its customer base, many of whom have operations along the East Coast and at the University at Albany's College of Nanoscale Science and Engineering.
The company also plans to offer machining work to the arsenal, and it intends to work with Benet Labs, the Army's research and engineering facility that is also located at the arsenal.
"I can honestly say the sky is the limit," said Angelopoulos. "We have access not only to space, but also to critical resources."
Cleveland Polymer's technology is used by semiconductor tool makers such as Veeco Instruments of Long Island and Hexagon Metrology of Rhode Island to replace metal parts. Its castings significantly reduce vibrations in the tools, compared to using metal.
The redevelopment of Building 125, a weapons manufacturing shop that was originally opened right after World War I, has so far been the crowning achievement of the Arsenal Business & Technology Partnership, a nonprofit agency that works with the Army to attract businesses to the arsenal grounds.
Later this month, M+W U.S., the company building the $4.6 billion GlobalFoundries chip "fab" in Saratoga County, is moving into its new headquarters at Building 125 as part of a relocation from Texas. The building is also home to Vistec Lithography, a cutting-edge semiconductor tool maker that moved from Cambridge, England, several years ago to be close to the NanoCollege. The building is now full.
Cleveland Polymer hopes to eventually add another 20 employees, bringing its employment to 30.
Alain Kaloyeros, chief executive of the NanoCollege, said Cleveland Polymer is well known in the industry and will add to the rapidly growing semiconductor ecosystem in the Capital Region.
"All of their customers are doing R&D at CNSE," Kaloyeros said.
Read more: http://www.timesunion.com/business/article/Arsenal-attracts-another-tenant-2336505.php#ixzz1fh1UerJx