Tykma expects new growth with merger

CHILLICOTHE – A laser marking and etching firm that last fall purchased space in the Gateway Interchange Industrial Park off Ohio 104 expects additional growth as the result of a merger with a British company announced Tuesday.

Tykma Technologies, an industrial laser marking systems manufacturer headquartered in Chillicothe, is merging with Electrox of The 600 Group PLC. Electrox, based in the United Kingdom, has been designing and manufacturing laser systems for marking, etching and engraving for more than 40 years.

"The merger will create one of the most diverse and powerful companies in the laser marking systems industry," said Tykma President David Grimes. "Electrox is a company rich in history, experience and technology. Tykma is a growing, market-driven company with strong leadership. We will combine to create a singular, powerful unit."

In October, the Ross County commissioners were informed by Ross County Community Improvement Corp. President Andy Tomlinson that Tykma had purchased a 50,000-square-foot space in the industrial park for $540,000 with the intention of creating about 10 new jobs. Grimes confirmed Tuesday the initial build-out will involve 25,000 square feet of that space and that the estimate of 10 jobs is consistent with company thinking.

Grimes said Tykma has 34 employees and is operating out of offices on East Water Street. The move to the industrial park is still in process.

According to Grimes, the merger will lead to additional growth opportunities.

"The end result of this new combined organization will put Tykma North America as the cornerstone of the merged relationship between our two companies," Grimes said. "We will continue to expand our presence in both manufacturing and support of our new, enlarged customer base.

"Additional expansion internationally will be supported, as well as a combination of products, customers and resources that will allow us to be among the top companies in the field of laser marking worldwide."

Majority ownership of both companies will be held by The 600 Group PLC, a diversified manufacturing technologies group with a focus in machine tools, precision-engineered components and laser marking. The group has completed an acquisition of 80 percent of Tykma common stock.

"We're excited to bring this opportunity to the community and look forward to creating more value going forward and hopefully creating jobs and all those good things," Grimes said.