Galileo, Rusnano JV Enjoy Growth Separately

CAREFREE, AZ | At a meeting with Galileo Vacuum Systems' CEO Pietro Profumo and VP Paolo Raugei during AIMCAL's March Management Meeting, Profumo revealed exclusively to PFFC that the company is “back on track, on sound financial footing, and is pursuing business opportunities that require technology development, particularly for applications in photovoltaics, display and touch panel manufacturing, RFID, and thin films.” In 2010 Galileo announced a joint venture, Galileo Nanotech, with Rusnano, a Russian government-owned organization with the charter of advancing Russia into the pool of world leadership in nanotechnologies. The agreement allowed for an infusion of cash to Galileo in return for technology development at Rusnano. The agreement is progressing so well that in October the partners expect the 100,000-sq-ft facility they are building near Moscow will be dedicated during a grand opening.

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