CLEVELAND, Dec. 2 /PRNewswire/ -- Noveon, Inc. announced today that it has
acquired certain assets, technology and other intellectual property from CDI
Dispersions and that it will expand manufacturing capacity at its Noveon
Hilton Davis subsidiary in Cincinnati, Ohio. CDI Dispersions, headquartered
in Newark, New Jersey, is a leading supplier of dispersions. The terms were
not disclosed.
(Photo: http://www.newscom.com/cgi-bin/prnh/20010523/CLW011LOGO-b )
"The acquisition of this technology as well as the investment in our
Cincinnati facility represents another step in our aggressive growth strategy
for Noveon and reemphasizes our commitment to expanding our dispersions
product lines," Tom Holleran, Noveon vice-president and general manager, food,
beverage and polymer additives, said.
Noveon Hilton Davis produces colors and dispersions that are used by
customers in a host of end-products for various food and beverage, coatings,
personal care, home care, pharmaceutical and industrial applications.
The expansion of manufacturing capacity at the Cincinnati facility will
include significant building renovation and the addition of specialized
milling and grinding equipment. The work will begin immediately and be
concluded during the first quarter of 2003. Noveon currently employs 170 at
Cincinnati and about 2,800 at office and manufacturing locations around the
world. The cost of the investment at Cincinnati was not disclosed.
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. Noveon had sales in 2001 of
$1.1 billion.
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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AP Archive: http://photoarchive.ap.org
PRN Photo Desk, 888-776-6555 or 212-782-2840
CONTACT:
Media, Rob Jewell, +1-216-447-5255, or
Investors, Sean Stack, +1-216-447-6494, both of Noveon, Inc.
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