MALLARD CREEK POLYMERS AND DOW REICHHOLD ANNOUNCE SALE (9/24/08)
September 24, 2008
Mallard Creek Polymers Inc., a privately held manufacturer of a range of specialty emulsion polymer products, and Dow Reichhold Specialty Latex have announced that Mallard Creek Polymers has purchased a portfolio of performance polymer products and related assets from Dow Reichhold.
Mallard Creek Polymers has purchased product formulas, trademarks and patents for approximately 50 specialty latex products used in the adhesives, coatings, construction, nonwovens, packaging, personal care, specialty paper, and textile industries. Financial terms of the transaction were not released. Dow Reichhold had previously announced the closure of the joint venture between The Dow Chemical Co. and Reichhold, Inc., and the sale of various assets. This agreement with Mallard Creek Polymers is the final sale of Dow Reichhold commercial assets, including products and technology, as the company completes the orderly closure of its operations.
Mallard Creek Polymers will now have a broader portfolio of performance polymers and expertise to serve the industrial and consumer marketplace.
“This acquisition enables us to accelerate our strategy of differentiated service and innovation, and further demonstrates our commitment to the industry and our customers,” said H. Aaron Parekh, president and CEO of Mallard Creek Polymers. “We are building an entrepreneurial, innovative and versatile polymer supplier for the industry, committed to partnering with our customers to bring forward unique solutions.”
“We believe this agreement between Mallard Creek Polymers and Dow Reichhold offers an excellent opportunity for our customers and the marketplace to have continued access to innovative products and excellent service,” said Jeffery Welker, president of Dow Reichhold.