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The ongoing operational savings related to the sale of the site form the final part of Synthomer’s $12 million synergy target relating to that acquisition, the company stated.
US Coatings was purchased in 2013 by Mike Reed, Don Thomas, and Larry LeSeure, who are now partnering with Valentus to leverage the infrastructure, technology and manufacturing capacity that Valentus has assembled, the company reported.
PPG expects the transaction to close in the first quarter 2018, subject to customary closing conditions. Financial terms of the transaction were not disclosed.
According to the companies, this partnership combines the expertise of both organizations, establishing a stronger regional presence that provides better service capability to customers in Asia.
The transaction reportedly provides Nordson ASYMTEK with dispensing and dosing products marketed by Infiniti under the Dot Streamer (DS) and Accura brands.
The facility will be a production hub for solventborne and waterborne coatings, closely connected to the company’s existing infrastructure for automotive coatings, resins, and electrocoat production as well as R&D laboratories.
The Yeosu plant has also completed an upgrade to a Technical Rubber Carbon Black production line.
The product offerings of the two companies are highly complementary and will allow Sika to become market leader in bituminous membranes and number two in liquid‐applied membranes in the fast‐growing Mexican market, the company stated.
The 13,000-sq. ft. building serves as the corporate office for both the CASE U.S. headquarters and the Azelis Company, GMZ.
BASF's Coatings division will supply all the paint layers for the vehicles, including electrocoat, primer, basecoat, clearcoat, and plastic parts.