U.S. Nuclear Corp. has signed a cooperation and marketing agreement with a Tennessee company to promote their complimentary nuclear safety products.
The agreement between U.S. Nuclear in Canoga Park and Nucsafe Inc, in Oak Ridge, Tenn. will result in combined sales of $20 million, a work force of 75 employees and manufacturing and warehouse space of 65,000 square feet.
The companies said the goal of the alliance is to promote, build, sell and service radiation detection devices globally. Benefits include the companies cross-selling each other’s products; a bigger footprint to qualify and bid for large contracts; and cooperating on joint development projects.
U.S. Nuclear, whose roots date back more than 70 years, has three subsidiaries – Technical Associates in Canoga Park, which makes radiation detection equipment; Overhoff Technologies in Milford, Ohio, which specializes in tritium detection equipment; and Electronic Control Concepts, also in Milford, which makes voltmeters to check industrial and medical x-ray machines.
Shares in U.S. Nuclear (UCLE) closed down Friday less than 1 cent, or just more than 1 percent, to 38 cents on the over-the-counter market.