Reichhold Gains IPS as Wholly-Owned Subsidiary
Reichhold, Inc. announced that it recently obtained Innovative Performance Systems, Inc. (IPS), a supplier of pavement marking materials, as a wholly-owned subsidiary.
Reichhold purchased IPS stock from Mark Rite Holding Co., LCC in January 2002 making Reichhold a complete owner in IPS stock. Today IPS remains an independently operating company with a separate board of directors from its parent company.
“Not only is IPS an innovative leader in the pavement marking industry, but the company is committed to increasing the safety and durability of our nation’s highways and proactively involved in roadway safety legislation and environmental issues,” stated Tom McSwain, president of IPS. “The synergy of our companies’ passions for innovation and safety is an equation for success.”
IPS offers three pavement marking solutions, HPS-3 Epoxy, HPS-4 Modified Urethane and HPS-5 Polyurea, with the goal to extend the striping season, improve work zone safety, and create a more durable material. All IPS products are developed at the state-of-the-art laboratory facility at the Reichhold, Inc. world headquarters located in Research Triangle Park, North Carolina.
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