Lilly Industries, Inc. Acquires Merckens Lackchemie GmbH & Co.INDIANAPOLIS--(BUSINESS WIRE)--Dec. 1, 1997--Lilly Industries, Inc. ("Lilly") (NYSE:LI) announced today that it has acquired Merckens Lackchemie GmbH and Company. Merckens, located in Eschweiler Eschweiler (ĕsh`vīlər), city (1994 pop. 55,790), North Rhine–Westphalia, W Germany, near Aachen. Its manufactures include lignite, iron, steel, rubber goods, limestone, textiles, and plastics. Known in the 9th cent., Eschweiler passed to the duchy of Jülich in 1420 and to Prussia in 1815., Germany, supplies industrial coatings to customers throughout Europe. Terms of the transaction were not disclosed, however, it is anticipated that Merckens will add over $15 million of annual revenues. Douglas W. Huemme, Chairman, President and CEO stated that, "the acquisition of Merckens is a strategic step toward our globalization goals and is complementary to our glass and specialty coatings businesses. It provides opportunities for expansion of our coatings business in Europe and will enable us to offer greater support to our North American customers who have European facilities." Lilly ranks among the largest North American manufacturers of industrial coatings and specialty chemical products. Founded in 1865 in Indianapolis, Lilly supplies customers worldwide from plants and sales offices in the United States, Canada, Taiwan, China, Malaysia, Ireland, the United Kingdom, Germany and Singapore. CONTACT: Lilly Industries, Inc., Indianapolis John C. Elbin, 317/687-6703 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion