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."
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.
Akzo Nobel formally announced the opening of its new non-stick coatings production facility in Dongguan City in southern China, marking the start of operations at a plant that produces non-stick coatings primarily for the rapidly growing cookware industry in China.
AK Steel, a manufacturer of steel products for the construction market, announced the completion of the "AK Steel Concept Home," reported to be the nation's first "antimicrobial" house as a result of the use of coatings that contain an antimicrobial compound named AgION™.
Professional Paint Inc. has acquired, through a wholly owned subsidiary, the operating assets of Duckback Products Inc., a manufacturer of wood and concrete stains based in Chico, CA. Duckback Products distributes products nationwide in the United States and Canada.
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