SANFORD, NC - The management of Saiden Technologies Inc. has acquired 100 percent of the company’s stock from its parent company, Saiden Chemical of Japan.
The company, which has been renamed STI Polymer, is a maker of acrylic emulsion polymers. It will continue to operate its plant in Sanford, NC, and will be led by its current management team, which has been in place since the plant opened in 2001. The acquisition includes full rights to the company’s existing product portfolio and a technical support agreement under which STI Polymer will maintain access to Saiden Chemical’s deep R&D resources.
“We believe that local ownership will allow us to serve our North American customers with greater focus, compared to operating as a non-strategic asset of Saiden Chemical,” said Jeff Lamb, the company’s President.
The financing of the acquisition provides STI Polymer with ample liquidity to support its plans for rapid growth. “We are excited that our new freedom of action will open up the prospect of growing into new products and markets,” Lamb said.
STI Polymer manufactures acrylic emulsion polymers in Sanford, NC, for adhesive and coating applications in the Americas.