NanoSteel to Open Metro Detroit Office Focusing on Automotive Business

12/13/12Follow @XconomyDET

NanoSteel, the Providence, RI-based nano-materials company, announced yesterday that it will open an office in metro Detroit. It has named Craig Parsons, a former Gestamp executive with more than 20 years experience working in the automobile supply chain and manufacturing, to lead the operation.

The metro Detroit office will focus on NanoSteel’s automotive initiatives as it pushes its lightweight steel alloy technology to industry manufacturers. In August, GM Ventures, the Detroit-based venture fund run by General Motors, led NanoSteel’s $12 million Series C round, calling its advanced high-strength steel “extremely promising.”

NanoSteel’s CEO, David Paratore, said in a press release that the new Detroit office and Parsons’s hiring represents a “significant milestone” that is integral to the company’s growth strategy.

NanoSteel did not disclose where in metro Detroit the office will be located.

Sarah Schmid is the editor of Xconomy Detroit. You can reach her at 313-570-9823 or sschmid@xconomy.com. Follow @XconomyDET

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