News of LORD Corp.’s acquisition by Parker Hannifin jumped to the top spot last week (Parker Hannifin to Acquire LORD in Strategic Transaction): “Parker Hannifin Corp. recently announced that it has entered into a definitive agreement to acquire LORD Corp. for approximately $3.7 billion in cash. The transaction has been approved by the boards of directors of each company and is subject to customary closing conditions, including receipt of applicable regulatory approvals. Upon closing of the transaction, LORD will be combined with Parker’s Engineered Materials Group.
“Headquartered in Cary, N.C., privately held LORD produces advanced adhesives, coatings, and specialty materials, as well as vibration and motion control technologies. The company has annual sales of approximately $1.1 billion and employs 3,100 team members across 17 manufacturing and 15 research and development facilities globally.
“‘This strategic transaction will reinforce our stated objective to invest in attractive margin, growth businesses, such as engineered materials, that accelerate us toward top-quartile financial performance,’ said Tom Williams, chairman and CEO of Parker. ‘LORD will significantly expand our materials science capabilities with complementary products, better positioning us to serve customers in growth industries and capitalize on emerging trends such as electrification and lightweighting…’”
Top 5 News that Sticks for May 12-18
- Parker Hannifin to Acquire LORD in Strategic Transaction #2 last week
- 3M Initiates Restructuring Following Challenging 2019 First Quarter third week in Top 5!
- DuPont Showcases E-Mobility Solutions at The Battery Show
- 3M to Acquire Advanced and Surgical Wound Care Producer Acelity
- Henkel Acquires 3D Printing and Industrial Inkjet Company Molecule
This weekly roundup highlights the adhesives, sealants, and coatings-related news stories that garnered the most attention during the previous week on our website, as well as our eNewsletters and social media platforms.