July 22, 2009 (FinancialWire) — Xiom Corp. (OTCBB: XMCP) (Current Market Cap: $7.13 Mil.) said it has entered a letter of intent to acquire 100% interest of Equisol LLC, for 65% of Xiom’s total issued and outstanding shares of common stock, $1.5 million in cash and a note.

Following the transaction, West Conshohocken, Pennsylvania-based Equisol will become a wholly owned subsidiary of Xiom. Equisol provides equipment solutions, services and engineering solutions to customers in the water industry.

The transaction is scheduled to close before the company’s fiscal year ends on September 30.

West Babylon, New York-based Xiom provides plastic powder coatings at on-site locations. Powder coating currently is a process in which metal parts are brought into a factory environment where they are cleaned and prepared to receive a powder coating.

Plastic in powder form is then applied to the various metal parts by means of an electrostatic charge that causes the powder to adhere to the surface. The coated part is then heated in an oven for a period of time to cause the plastic to melt and adhere to the substrate.

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