Two companies in the Sandia Science & Technology Park (SS&TP) were acquired by Fortune 500 companies in 2011, highlighting the growth of SS&TP tenants in desirable technology areas. Being in the SS&TP has given both companies a location near Sandia National Laboratories, a desirable site for their facilities and employees, and heightened visibility with the congressional delegation.
Raytheon Company acquired key business assets of Ktech Corporation, one of Albuquerque’s leading high-tech companies. Raytheon Ktech has experienced a 23% increase in sales from 2010 to 2011, while employment remains steady since the acquisition. The company continues to occupy 100,878-square-feet of tailor-made space in two buildings at the SS&TP.
Air Products acquired PolyFlow Engineering, a subsidiary of Ktech Corporation and a manufacturer of equipment for the semiconductor industry. The company has been adding employees since the acquisition, moving from just under 100 to nearly 150 by the end of 2011. Air Products has made a seven-year commitment to the Albuquerque market, and hopes to be staying much longer. Capital investment since the acquisition has been over $200,000 in the 72,000-square-foot SS&TP facility, which is now part of the Air Products Electronic Equipment Solutions business unit.
Read more about the Sandia Science & Technology Park.