Borden Chemical Acquires Fentak, Australia-Based Producer of Specialty Materials for the Engineered Wood and Laminating Industries.Business Editors COLUMBUS, Ohio--(BUSINESS WIRE)--Nov. 7, 2003 Borden Chemical, Inc., a leading global producer of chemicals, adhesives and resins for the industrial and wood markets, has acquired Fentak Pty Ltd PTY LTD Propriety Limited (company structure in Australia) , a producer of specialty chemical A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. products for the engineered wood, laminating and paper impregnation impregnation /im·preg·na·tion/ (im?preg-na´shun) 1. fertilization. 2. saturation (1). impregnation 1. the act of fertilizing or rendering pregnant. 2. saturation. markets. Terms of the transaction were not disclosed. The sale includes all Fentak technology and product lines. The business has two manufacturing locations, in Somersby, New South Wales Somersby is a semi-rural locality of the Central Coast region of New South Wales, Australia, located to the northwest of Gosford along the Pacific Highway. It is part of the City of Gosford local government area. , Australia, and Penang, Malaysia. The company's 30 associates also will join Borden Chemical. Last year, Fentak's global sales totaled US $12 million. Fentak's principals, John Ridnell and Rod Peterson, will join Borden Chemical and will continue to direct the business. "The merger of Fentak into Borden Chemical enables us to broaden the offering of specialty and ancillary products that are important to our customers in the engineered wood and laminating industries, and that complement our core resins and adhesives offerings," said Craig O. Morrison, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. for Borden Chemical. "Fentak's strong focus on technical service also is a natural fit with Borden Chemical's technical service business model." Fentak is a leading supplier of a wide range of specialty chemical materials to the engineered wood sector, including release agents, edge sealants, catalysts, cleaners and conditioners, and filler putties. For the paper impregnation and laminating industries, it offers a complete line of wetting and release agents, pigment dispersions and dyes, plasticizers plasticizers mostly triaryl phosphates, such as tricresyl, triphenyl phosphates, which are poisonous. See also triorthocresyl phosphate. , abrasive dispersions, catalysts and plate cleaners and conditioners. "We are pleased to be joining Borden Chemical because its global presence will enable us to more rapidly expand to serve customers around the world," said John Ridnell of Fentak. "While we already are active internationally, this move gives us a much stronger global platform to grow our business." Based in Columbus, Ohio, Borden Chemical, Inc. is a leading global source for industrial resins and adhesives, formaldehyde, UV-light curable cur·a·ble adj. Capable of being cured or healed. coatings and adhesives, and other specialty products serving a broad range of markets including the forest products, construction, oilfield, composites, electronics, automotive and foundry industries. You can find Borden Chemical on the web at www.bordenchem.com. |
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