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April 18th, 2007
Billionaire investor Wilbur Ross, who has made most of his money restructuring failed companies in such unglamorous industries as steel, coal, and most recently, textiles, is not the kind of guy to jump on the latest technology fad. Therefore, when someone like Ross begins investing in nanotechnology, I believe it serves as further validation that the technology is moving into the mainstream.
Yesterday, I had the opportunity to hear Ross deliver a keynote presentation at the sixth NanoBusiness Alliance conference in New York City. In his talk, he explained how he pretty much stumbled into nanotechnology when he acquired Burlington Industries, a textile manufacturer, in a bankruptcy deal a few years ago. As part of that deal, he also acquired Nano-Tex, which Burlington then owned.
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