BASF AG, Ludwigshafen, Germany, has made an all-cash proposal to acquire all outstanding shares of common stock of Iselin, NJ-based Engelhard Corp. for $4.9 billion. The proposal reflects what BASF believes is a significant value for Engelhard's stockholders: a robust premium over Engelhard's current stock price and a fully financed, all-cash transaction with no significant regulatory hurdles anticipated based on present knowledge.
Degussa, Parsippany, NJ, has announced the start of production on fumed alumina and cationic-silica dispersions at its North American dispersion plant in Mobile, AL. These specialty products, part of the AEROSIL® business line, are ideally suited to meet the demanding needs of the highly competitive inkjet paper industry.
Graham Packaging Co. L.P., York, PA, has announced the closing of its container manufacturing plant in Cincinnati as part of its integration efforts from the acquisition of O-I Plastic Container. Approximately 75 employees will be affected by the shutdown, which is scheduled to take place in mid-March.
Henkel Corp., Bay Point, CA, and Aviall Inc., Memphis, TN, have reached an agreement that will make Aviall an authorized distributor of Henkel aerospace products in the United States. Aviall began marketing and distributing Henkel products primarily to maintenance, repair and overhaul (MRO) operations on December 1, 2005.
ITW Performance Polymers, Danvers, MA, has acquired Schnee-Morehead Inc., a manufacturer of adhesives and sealants for the construction and aerospace industries. A privately held company based in Irving, TX, Schnee-Morehead manufactures and supplies various butyl products, solution acrylics, urethanes, water-based and warm-applied adhesives, silicones, foam tapes, and other compounds to a worldwide customer base.
Novamelt-Jowat LLC, a joint venture between German companies Novamelt and Jowat AG, has announced plans to both produce and distribute pressure-sensitive adhesives and UV-curing PSAs in the United States. Construction of a new manufacturing plant on the Jowat Corp. premises near High Point, NC, is expected to be completed in March.
Royal Adhesives and Sealants LLC, South Bend, IN, has announced the completion of its acquisition of the assets of J&R Industries Inc., Wilmington, CA. J&R Industries, which has been in business for over 25 years, serving both domestic and international clients, is a leading manufacturer and marketer of polysulfide sealants and electrical potting compounds for aerospace, defense, and marine applications, as well as specialty epoxy coatings for industrial maintenance applications. The J&R Industries business will now operate under the Royal Adhesives and Sealants name, and its employees will become employees of Royal.