LORD Corporation Agrees to Purchase Business Line of Henkel
Lord corporation
LORD Corporation Agrees to Purchase Business Line of Henkel
CARY, North Carolina, March 6 /PRNewswire/ --
LORD Corporation -- a global developer and manufacturer of products and technologies
that provide superior adhesion and bonding, control motion and minimize the effects of
shock and vibration -- has signed a definitive agreement with Henkel KGaA of Duesseldorf,
Germany to purchase certain assets comprising Henkel's rubber-to-substrate bonding and
rubber coating business.
The transaction is subject to customary closing conditions including the required
antitrust approvals. The business primarily serves automotive and industrial
manufacturers of rubber molded and extruded components and includes the trade names
Chemosil, Flocksil, Cuvertin and Sipiol. Henkel employees performing technical and
commercial functions and who have been primarily dedicated to this business are planned
to transfer to LORD Corporation subsidiaries.
"The acquisition of this important business from Henkel will allow us to better serve
our global customers in the European region and is in line with the strategic commitment
LORD Corporation has to the European region in all areas of activities," said Rick
McNeel, President and CEO of LORD Corporation.
"We are committed to integrating human expertise and distinctive technology to provide
solutions which enable our customers to reduce their total costs and improve
productivity," adds Eric Ravinowich, Regional Director, LORD Corporation (Europe) Ltd.
"This acquisition will allow LORD to combine our current and emerging technologies for
high-volume, automotive and industrial Noise Vibration Harshness (NVH) device
manufacturers to resolve many of the challenges prevalent in the European and global
markets."
About LORD Corporation
With headquarters in Cary, NC, USA and sales in excess of US$550-MM, LORD Corporation
is a privately held company that designs, manufactures and markets devices and systems to
manage mechanical motion and control noise and vibration; formulates, produces and sells
general purpose and specialty adhesives and coatings; and develops products and systems
utilizing magnetically responsive technologies. With manufacturing in eight countries and
offices in more than 15 major business centers, LORD Corporation employs more than 2,400
worldwide. Visit www.lord.com for more information.
Contact:
Ed Conner, +49-2433-525711 or ed.conner@lord.com
Web site: www.lord.com