RESEARCH TRIANGLE PARK, N.C. - Reichhold is transferring a portfolio of surplus assets located in the United States, Mexico and Switzerland. Swiss North American Properties, Inc. (SNAP), a joint venture between International Risk Group, LLC, of Littleton, Colo., and Cobra Ventures, LLC, of Raleigh, N.C., acquired the Reichhold portfolio.

The portfolio includes former Reichhold properties in Elizabeth, N.J.; Baltimore; Zurich, Switzerland; Mexico City; Tuxedo Park, N.Y., Columbia, Miss.; Lima, Ohio; Pineville, N.C.; and Tacoma, Wash. Terms of the agreement were not released.

Reichhold President and CEO John Gaither stated, "The disposal of these surplus properties is part of Reichhold's strategic plan to become more competitive in our core business as the world's largest manufacturer of unsaturated polyester resins and a leading supplier of coating resins."