High Point Council Could Attract Nanotechnology Company, Quartek - News Item

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Apr 1 2004

High Point City Council is considering giving $71,400 in incentives to lure QuarTek International Inc., a startup nanotechnology company, to the city. The incentives are for property improvements.

Launched by Reyad Sawafta, a former nuclear physicist at N.C. A&T State University, former vice president of technology at TransTech Pharma in High Point and CEO of biotech firm PharmaCore, QuarTek is a privately held company developing its own nanotechnology products as well as conducting research for other companies.

They expect to invest $3 million and $4 million in facilities and equipment over the next two to three years. QuarTek has already has two nanotechnology patents.

Posted 29^th March 2004

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