CLEVELAND, June 27 /PRNewswire/ -- Noveon, Inc. announced today that it
had purchased technology and other assets from American Finish & Chemical
Company as part of its strategy to expand its performance coatings business.
American Finish & Chemical Company, headquartered in Chelsea, Mass., is a
supplier and marketer of custom emulsion-based coatings used in a variety of
end products. The purchase price was not disclosed.
(Photo: http://www.newscom.com/cgi-bin/prnh/20010523/CLW011LOGO-b )
"Acquiring the compounding technology assets of American Finish & Chemical
Company immediately enhances our ability to serve customers for flock adhesive
products and will offer other growth opportunities involving environmentally
friendly water based coatings," said Sarah Coffin, Noveon Senior Vice
President & General Manager, Performance Coatings.
Noveon plans to consolidate manufacturing operations at the existing
Noveon facility at Lawrence, Mass.
Noveon is a leading global producer and marketer of technologically
advanced specialty chemicals for a broad range of consumer and industrial
applications. Noveon is headquartered in Cleveland, Ohio, with regional
centers in Brussels, Belgium, and Hong Kong. The company had sales in 2001 of
$1.1 billion and employs about 2,800 at office and manufacturing locations
around the world.
This release contains forward-looking statements that relate to future
events or performance. These statements reflect the Company's current
expectations, and the Company does not undertake to update or revise these
forward-looking statements, even if experience or future changes make it clear
that any projected results express or implied in this or other Company
statements will not be realized. Furthermore, investors are cautioned that
these statements involve risks and uncertainties, many of which are beyond the
Company's control, which could cause actual results to differ materially from
the forward-looking statements. Further information about these risks can be
found in the Company's filings with the Securities and Exchange Commission.
Investors are cautioned not to place undue reliance on any forward-looking
statements contained herein, which speak only as of the date hereof. The
Company undertakes no obligation to publicly release the result of any
revisions to these forward-looking statements that may be made to reflect
events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
SOURCE Noveon, Inc.
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Related links:
http://www.noveoninc.com
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PRN Photo Desk, 888-776-6555 or 212-782-2840
CONTACT:
News Media, Rob Jewell, +1-216-447-5255, or
Investors, Sean Stack, +1-216-447-6494, both of Noveon, Inc.
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