Borden Chemical Acquires Southeastern Adhesives Company.Business Editors COLUMBUS, Ohio--(BUSINESS WIRE)--Dec. 31, 2003 Borden Chemical, Inc., a leading global producer of chemicals, adhesives and resins resins, n.pl complex, insoluble, sticky substances secreted by plants. Used as astringents, antimicrobials, and antiinflammatories, and are burned as incense. Can cause oral ulcers and epidermal irritations. for the industrial and wood markets, has acquired the business and technology assets of Southeastern Adhesives Company, a Lenoir, N.C.-based producer of specialty adhesives. Terms of the transaction were not disclosed. The sale includes all technology, product lines and other business assets, but does not include Southeastern Adhesives' plant assets in Lenoir. Borden Chemical will produce and market the acquired product lines, which are used primarily in furniture and millwork applications, through its existing manufacturing and sales network. 2002 sales for the acquired products totaled $7 million. "The purchase of Southeastern Adhesives' lines of UF resins, water-borne adhesives, catalysts and Seacobond(R) hot melt adhesives will complement Borden Chemical's existing products for the furniture and millwork industries," 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. "We are gaining some interesting new technologies that expand the range of bonding solutions we can provide to our customers." Borden Chemical will be introducing the acquired technologies to new global markets through its operations in other areas of the world, Morrison added. The transaction is the second between the two companies this year. In July, Borden Chemical acquired Southeastern Adhesives' filtration media resins business. Based in Columbus, Ohio Columbus is the capital and the largest city of the American state of Ohio. Named for explorer Christopher Columbus, the city was founded in 1812 at the confluence of the Scioto and Olentangy rivers, and assumed the functions of state capital in 1816. , Borden Chemical, Inc. is a leading global source for industrial resins and adhesives, formaldehyde formaldehyde (fôrmăl`dəhīd'), HCHO, the simplest aldehyde. It melts at −92°C;, boils at −21°C;, and is soluble in water, alcohol, and ether; at STP, it is a flammable, poisonous, colorless gas with a suffocating , 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 A semiconductor manufacturer that makes chips for third parties. It may be a large chip maker that sells its excess manufacturing capacity or one that makes chips exclusively for other companies. industries. You can find Borden Chemical on the web at www.bordenchem.com. |
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