National Patent Development Corporation

East Hanover, NJ United States

  (OTC: NPDV)

Company Description

Ebbing and flowing with interests in a diverse set of operations seems to be part of normal business at National Patent Development (NPD). The company holds small stakes in alternative-fuel technology company Millennium Cell, as well as MXL Industries, a manufacturer of optical plastics molding and precision coatings. The scaled-down firm also owns real estate in Connecticut. In October 2009, NPD sold its real estate holdings in New York, consisting of about 1,000 acres, for more than $12 million in cash. Additionally, the company in early 2010 sold its home improvement products wholesaler Five Star Products, a core unit that had represented 100% of its 2009 sales, to The Merit Group for about $30 million.