Date: Dec 20, 2013 Author: Adam Sichko Source: bizjournals (
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David Apkarian sold part of TransTech Systems Inc. in Schenectady to two of his employees.
The move frees Apkarian, the second-generation president and CEO, to pursue new business partnerships while allowing him to move the business to a new location in the region or potentially out of state.
TransTech's main product is a testing device that allows contractors to measure the strength and density of asphalt.
TransTech's board voted 7-0 on Dec. 17 to sell a division called QCQA to two employees, Tod Kobik and Will Stanton.
"We can no longer afford to be tied just to construction," Apkarian says.
The core technology in TransTech's sensors can be applied to several industries, from strength testing in carbon-fiber airplane parts to biomedicine.
Apkarian said previously he has been unable to develop partnerships because some potential partners shied away, viewing TransTech as strictly a construction company.
