The Magni Group, a manufacturer of specialty coatings for fastener, brake and fuel systems, has acquired the coating technologies of GDCS Inc., a manufacturer of specialty coatings for brake rotors and drums and exhaust systems and mufflers.
Polymer Solutions Inc., a manufacturer of coatings and adhesives based in Chico, CA, announced an agreement to sell its assets to Chemcraft Holdings Corp. for $7.5 million in cash.
Bayer AG announced plans to spin off its chemicals division and part of its polymers business in a restructuring that will create a new chemical company and place the emphasis for Bayer's existing drug business on Europe.
ICI said it plans to focus on "performance transformation rather than portfolio transformation," and indicated that major divestitures are viewed as being "unattractive at present."
New York recently became the second northeastern state to enact a VOC regulation on architectural and industrial maintenance (AIM) coatings, as the state's Environmental Board adopted a rule based on a model regulation issued in 2000 by the 12-state Ozone Transport Commission (OTC).
The Valspar Corp. said it will record an after-tax charge of $15.2 million in the company's fourth quarter for costs associated with estimated future service claims related to its furniture-protection plans, which are sold through U.S. furniture retailers.
California Polytechnic State University (Cal Poly) San Luis Obispo unveiled plans for the construction of the Western Coatings Technology Center and the launch of a $5 million fund-raising campaign for the project.
The University of Southern Mississippi (USM) announced program plans for the 31st Annual Waterborne, High-Solids and Powder Coatings Symposium, scheduled for Feb. 18-20, 2004, in New Orleans.
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