Reichhold Completes Sale of Adhesives Business
RESEARCH TRIANGLE PARK, N.C. -- Reichhold, Inc. in conjunction with parent company, Dainippon Ink & Chemicals, Inc. (DIC), has completed the sale of its adhesives business to Forbo Holding AG, Switzerland.
DIC decided to divest Reichhold's adhesives business, which has annual sales of approximately US$250 million with some 600 employees, as part of the plan to restructure its overall business. This is a key move for Reichhold's new business strategy of refocusing on its core businesses: composites, and coating and performance resins.
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.
For further information, visit www.reichhold.com.
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