BioBased Changes Rhythm
by June 1, 2009 12:00 am 74 views
Tom Muccio has moved on from the BioBased Cos. he helped found in 2003.
Little Rock techpreneur Walter Smiley is now the interim CEO of Fayetteville-based BioBased Technologies.
BioBased Technologies was started to research and develop agro-based polyols for the polyurethane industry. The company’s primary commercial product is a soy-based spray foam insulation.
Smiley founded Systematics Inc. of Little Rock, a financial software and services company for the banking industry, in 1968. He served as chairman and CEO for 20 years.
The company sold to Alltel Corp. in 1990 for $550 million, changing its name to Alltel Information Services. Fidelity National Financial Inc. of Jacksonville, Fla., then bought AIS in 2003 for $1.05 billion.
Currently, Smiley holds no official title in the company, but does offer his advice and guidance.
Muccio, you may remember, was an investor in the four-story Commerce Park II building developed by Ben Israel. Note-holder Chambers Bank purchased the building at auction and Muccio, through his TAM LLC, took final ownership for a price of $10.14 million in 2008.
Neither Muccio nor Smiley would return repeated calls to discuss the changes or the future of BioBased.