Elementis Annouces Sale Of Hardman Business To Royal Adhesives & Sealants
April 4, 2005
Elementis plc has announced that it has agreed to sell its Hardman epoxy and urethane products business, headquartered in Belleville, NJ, for a cash payment of $14.82 million to Royal Adhesives and Sealants, LLC. Royal is a manufacturer and marketer of specialty adhesives and sealants for use primarily in industrial and commercial applications throughout the U.S. Hardman, a manufacturer and marketer of epoxy and urethane products for the global adhesive and sealants industry, employs 43 people. Proceeds from the sale will be used to reduce debt.