SHELL CHEMICAL ANNOUNCES TENTATIVE AGREEMENT WITH HI-TEK INC.
HOUSTON, Feb. 10 /PRNewswire/ -- Shell Chemical Company announced today that it has a tentative agreement with Hi-Tek Inc. to buy selective assets of Hi-Tek's specialty resins business. Hi-Tek Inc. is a wholly owned subsidiary of Rhone-Poulenc, Inc. "We are interested in the business because it holds strong competitive positions in rapidly growing areas of technology that we believe are key to meeting our customers' present and future needs," Scott Roberts, general manager of Shell's resins business said. "Of particular interest is Hi-Tek's unique technology for providing epoxy resins and curing agents as waterborne dispersions, reducing the need for organic solvents." The business' main products are specialty epoxy resins and curing agents which are used in industrial coatings, adhesives, and composite structures. These products will complement Shell's existing technology and feedstock capabilities. Shell Chemical Company is a division of Houston-based Shell Oil Company. -0- 2/10/93 /CONTACT: Holly Hutchins, 713-241-4544, or Kitty Borah, 713-241-4544, or Mike Sternesky, 212-632-4888, all of Shell Oil Company/
CO: Shell Chemical Company; Hi-Tek Inc. ST: Texas IN: CHM SU:
TS -- NY052 -- 5153 02/10/93 12:27 EST
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|Date:||Feb 10, 1993|
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