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August 03, 2015 8:19 PM ET

Metals and Mining

Company Overview of Memry Corporation

Company Overview

Memry Corporation formulates, melts, and processes nitinol and nitinol-based alloys and superalloys for shape memory and superelastic applications. It develops nitinol alloys and other superelastic and shape memory alloys; manufactures nitinol semi-finished forms and fabricated components; and provides nitinol melting services ranging from nitinol component fabrication/finishing and engineer-to-engineer support at the prototyping stage. The company also engages in the manufacture of nitinol as raw material, semi-finished forms, and fabricated components, such as wire stents, laser cut components, and micro-coils; and the custom melting of nitinol alloys and superalloys into products ranging ...

3 Berkshire Boulevard

Bethel, CT 06010

United States

Founded in 1981

363 Employees

Phone:

203-739-1100

Fax:

203-798-6606

Key Executives for Memry Corporation

Chief Executive Officer
President and Chief Operating Officer
Age: 59
Chief Financial Officer, Principal Accounting Officer and Treasurer
Age: 60
Director, Chief Executive Officer of Putnam Plastics Company LLC and President Putnam Plastics Division
Age: 57
Managing Director of Memry GmbH
Compensation as of Fiscal Year 2015.

Memry Corporation Key Developments

Memry Corporation to Expand Facility in Bethel; The state Department of Economic and Community Development to Provide Loan to Memry Corporation

Governor Dannel P. Malloy announced that Memry Corporation will expand its facility in Bethel to meet growing production demand. As part of the expansion project, Memry will add 76 new jobs to its current workforce of 153 employees by November 2017. The state Department of Economic and Community Development will provide memory with a $2.75 million loan, at an interest rate of 2% for ten years. The Manufacturing Assistance Act loan will help the company cover the $7.9 million total cost of the project, which includes the acquisition of machinery and equipment associated with the expansion of its manufacturing facilities in Bethel. Memry will also receive loan forgiveness if the company meets its job retention and creation targets by November 2017. Memry will receive $687,500 loan forgiveness if the company retains its existing employment level of 153 full-time employees and adds 38 jobs within three years. If Memry retains 153 employees and adds 76 jobs in that time frame, $1,375,000 of the loan will be forgiven. The State Bond Commission approved the funding at its last meeting on July 25th.

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