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The management of Saiden Technologies Inc. recently announced that it has acquired all of the company’s stock from its parent company, Saiden Chemical of Japan. The company, which has been renamed STI Polymer, will continue to operate its plant in Sanford, NC, and will be led by its current management team. The acquisition includes full rights to the company’s existing product portfolio and a technical support agreement under which STI Polymer will maintain access to Saiden Chemical’s R&D resources.
“We believe that local ownership will allow us to serve our North American customers with greater focus, compared to operating as a non-strategic asset of Saiden Chemical,” said Jeff Lamb, president. “We are very pleased that we will be able to maintain our excellent workforce and state-of-the-art facility, and look forward to continuing to serve our loyal customers with the products and services they have come to expect.”
For additional information, visit www.stipolymer.com.