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Reichhold Announces Plans to Sell Its Formulated Adhesives Business

January 31, 2002
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Research Triangle Park, N.C. -- Reichhold, Inc., a wholly owned subsidiary of Dainippon Ink and Chemicals, Inc. (DIC), is negotiating to sell its Swift Adhesives business to Forbo Holding A.G., a global manufacturer of adhesives, belting and floor coverings headquartered in Zurich, Switzerland.

The adhesives industry, which has a global market size of approximately $22 billion (2.64 trillion yen), has been integrated into a few large chemical companies and many niche companies that manufacture specialty adhesives. Reichhold has been planning to reinforce its core business and divest its non-core business as part of its restructuring plan.

The Swift Adhesives business, which operates in Europe; North, Central and South America; as well as a joint venture in China, targets industries such as product assembly, automotive, packaging, graphic arts and construction. The business has annual sales of about $250 million (30.0 billion yen) with around 700 employees.

Forbo is expanding its presence within the adhesives industry and has implemented several acquisitions earlier this year. The principal applications of its business are construction, automotive, product assembly, footwear, woodworking and packaging.

For more information, visit www.reichhold.com, e-mail productinfo@reichhold.com, or call 919-990-7756.

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