Reichhold announces management buyout.Reichhold, Research Triangle Park Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. , NC, has announced that its executive management team has reached an agreement with Dainippon Ink and Chemicals, Incorporated (DIC DIC diffuse intravascular coagulation; disseminated intravascular coagulation. DIC abbr. disseminated intravascular coagulation Disseminated intravascular coagulation (DIC) ) for a management buyout Management buyout (MBO) Leveraged buyout whereby the acquiring group is led by the firm's management. management buyout See going private. . Reichhold has been a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of DIC since 1987. Under the terms of the agreement, DIC will retain the Austrian coatings operations and both companies will be free to continue to independently supply the worldwide coatings market. The name Reichhold will be retained under the new ownership. The executive management team will continue to lead the company in their current roles. Reichhold is one of the world's largest manufacturers of resins, gel coats, and bonding pastes for the composites industry and a leading supplier of a wide variety of polymers for the coatings and graphic arts markets. Reichhold has 1,600 employees and 16 manufacturing facilities worldwide. |
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