RESEARCH TRIANGLE PARK, N.C. - Reichhold, Inc., and Ennis Paint announced a joint venture creating Innovative Performance Systems, LLC (IPS, LLC). IPS (previously IPS, Inc.) has been a wholly owned subsidiary of Reichhold since 2002. IPS, Inc., has enjoyed a close commercial relationship with Ennis Paint since 2002 when Ennis Paint began toll manufacturing IPS products. In 2003 Ennis Paint began a sales representation agreement with IPS, Inc.

Tom McSwain, who served as president of IPS, Inc., will continue to serve as president of IPS, LLC. McSwain stated, "The new joint venture with Ennis Paint will mean rapid growth and profitability in the highway-products market by capitalizing on nationwide opportunities resulting from the new transportation bill SAFETEA-LU."

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