McWhorter President and CEO Jeff Nodland called the acquisition "a natural step for McWhorter, particularly in growing its European business." He said the Dyno product line will expand McWhorter's resins product offerings for industrial and specialty architectural coatings. Among other resins, Dyno manufactures alkyd emulsions that McWhorter said are gaining market share in the coatings-resins field. Dyno had 1998 sales of approximately $10 million.
McWhorter To Acquire Dyno ASA's Resins Business
CARPENTERSVILLE, IL - McWhorter Technologies Inc. announced an agreement to acquire the European and North American coatings resins business of Dyno ASA of Norway. The transaction, expected to close in early January, includes product lines, technology and market information, but excludes any significant plant assets or employees. McWhorter said it will move production from Dyno's Lillestrom, Norway, plant to various European and North American facilities during the next six months.