OGDEN —Cryocon Inc. said Tuesday thatit acquired the assets of Applied Cryogenics of Fort Smith, Ark, in April.
Applied Cryogenics' customer base was heavily concentrated in the automotive industry to improve the life and durability of die molds and various other parts.
Terms of the assets acquisition included the issuance of 60,000 shares of the restricted common stock of Cryocon to Applied Cryogenics in return for the purchase of the Applied Cryogenics corporation name, but not the corporation itself; the purchase of Applied Cryogenics domain names; transfer of Applied Cryogenics phone numbers and customer lists; and the purchase of Applied Cryogenics equipment, including processors and ovens.
Cryocon Inc. specializes in deep cryogenic tempering to improve product durability.