CONSHOHOCKEN, Pa. - H. Morgan Smith, president of Van Horn, Metz & Co., Inc., and Tom Castorina, president of Seaboard Sales, Inc., have announced that Van Horn, Metz acquired Seaboard Sales, a specialty raw materials distributor serving the Metro New York/New Jersey region.
MINNEAPOLIS - The Valspar Corporation, a leading global coatings company, has agreed to acquire the powder coatings business of H.B. Fuller Company, St. Paul, Minn. H.B. Fuller’s powder coatings business, which had net sales of approximately $75 million in 2005, serves customers in 26 countries from manufacturing facilities in the United States and the United Kingdom. The cash purchase transaction is subject to regulatory approval and is expected to close in December. Terms of the transaction were not disclosed.
OSAKA, Japan - Nippon Paint Co., Ltd. (NPC), has finalized its purchase of the majority of Rohm and Haas Company’s (ROH) Automotive Coatings business, and will introduce NB Coatings, Inc., to serve North American customers.
MUTTENZ, Switzerland - Ciba Specialty Chemicals Company has signed an agreement to sell its Masterbatch business to Clariant, Basel, Switzerland. The divestment is expected to be concluded in the fourth quarter of 2006 after the necessary regulatory approvals. The sales price was not disclosed.
COVINGTON, Ky. – Ashland Inc. signed a definitive agreement to purchase the assets of Northwest Coatings of Oak Creek, Wis., a formulator and manufacturer of adhesives and coatings employing ultraviolet and electron beam (UV/EB) polymerization technologies. Northwest Coatings is a holding of Caltius Equity Partners. The transaction, which includes production facilities in Milwaukee and Greensboro, N.C., is valued at approximately $72 million. Trailing 12-month sales of Northwest Coatings are nearly $40 million.
ARNHEM, The Netherlands - Akzo Nobel has agreed to sell its MPP Systems® business to Veolia Water Solutions & Technologies, part of the Water Division of French company Veolia Environnement. Financial details have not been disclosed.
ALSIP (Chicago) - Frost & Sullivan recently selected Scientific Dust Collectors as the recipient of the 2006 U.S. Industrial Air Filtration Technology Leadership of the Year Award in recognition of its ability to provide superior technology solutions for the U.S industrial air-pollution control market.
HOUSTON - International Paint LLC, an Akzo Nobel company, has opened a new distribution center to serve its customers throughout Pittsburgh and the surrounding Tri-State region.
DALLAS - Flowserve Corp. a global provider of fluid motion and control products and services, has received two prestigious industry awards from global-growth consulting company Frost & Sullivan, honoring its market leadership in the pump sector.
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