Lilly Industries, Inc. Acquires Merckens Lackchemie GmbH & Co.INDIANAPOLIS--(BUSINESS WIRE)--Dec. 1, 1997--Lilly Industries, Inc. ("Lilly") (NYSE NYSE See: New York Stock Exchange :LI) announced today that it has acquired Merckens Lackchemie GmbH and Company. Merckens, located in Eschweiler, 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 (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. stated that, "the acquisition of Merckens is a strategic step toward our globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation 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 North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. customers who have European facilities." Lilly ranks among the largest North American manufacturers of industrial coatings and 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. 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 |
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