MADISON HEIGHTS, Mich., May 27, 2022 (GLOBE NEWSWIRE) — Nano Magic Holdings, Inc. (OTCMKT: NMGX) (“Nano Magic” or the “Company”), a leader in nanotechnology-powered cleaning, protection and anti-fog solutions announced that effective at the end of the month it is selling a majority interest in Applied Nanotech, Inc. (“Applied Nanotech”) to the employees of that subsidiary.
Jacque Soptick, an employee for over 20 years, became the majority owner of Applied Nanotech. She stated: “We are excited for this new chapter of Applied Nanotech as a woman-owned business. After more than two decades, the time has finally arrived to take ownership of its future.” Dr. Richard Fink, the other purchaser who is continuing as the chief scientist explained: “After decades of commitment to Applied Nanotech, Jacque and I can now call it our own. I look forward to continuing my collaboration with Jacque to expand and grow the contract research and specialized product sales, capitalizing on our technology.” For Nano Magic, Tom Berman, President, noted: “This lets Nano Magic sharpen its focus on brand development and our own product portfolio while still retaining minority ownership in Applied Nanotech and its future. This is a true win-win transaction.”
On May 26, 2022 David Sherbin was elected to the Nano Magic board. Mr. Sherbin retired in April 2021from from his position as the senior vice president, general counsel, chief compliance officer and secretary at Aptiv PLC (formerly Delphi Automotive). He joined that company in 2005 and served as General counsel & Chief Compliance Officer. Prior to that, Mr. Sherbin served Pulte Group, Federal Mogul Corporation and Heller Financial Inc. in legal and compliance roles. He is a graduate of Oberlin College and Cornell Law School. He is 62 years old. Tom Berman commented: “We are elated to have someone of David’s caliber and experience join our Board. He has worked virtually his entire career with public reporting companies and brings to our Board a wealth of legal, business, and compliance experience that will strengthen our team.”
About Nano Magic
Nano Magic is a leader in developing and bringing to market cutting-edge nanotechnology-powered industrial and consumer cleaning, protection and anti-fog solutions formulated in Detroit, Michigan. Nano Magic focuses on innovative and advanced product solutions harnessing the magic power of nanotechnology to create a safer, more socially conscious, and higher performing world. Visit www.nanomagic.com for more information.
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Nano Magic Holdings Inc.