Henkel to Acquire Lord Corporation´s Interest in Liofol Company
Henkel of America, Inc., Gulph mills, PA, USA, through a wholly owned subsidiary, has exercised its call option to purchase the outstanding 50 % of the shares in the joint ventures between Henkel and Lord Corp., Cary, NC, in the US and Brazil. The joint ventures Liofol Company, US, and Liofol Ltda., Brazil, are leading suppliers of adhesives to the flexible packaging markets in both the United States and South America. Henkel expects the transaction to be complete by the end of 2001. Sales for Liofol were not disclosed nor was the purchase price. Ed Gustin, Chief Operating Officer and General Manager of Liofol said, "This move not only consolidates Liofol activities globally, but it provides Liofol resources that will greatly strengthen the business. With Henkel being the world´s largest adhesive manufacturer, our customers will benefit from new products, technologies and services."
The Liofol Company offers a broad product line of solvent-based, solventfree and waterborne adhesives under the Liofol® and Tycel® trademarks. Liofol employs approximately 40 people in its facilities in Cary, NC and São Paulo, Brazil. Under the umbrella-brand Liofol, Henkel markets innovative laminating adhesives and services worldwide. The Liofol brandname is recognized as the worldwide leader in solventfree laminating technology. The products are primarily used in manufacturing flexible packaging for the food, pharmaceutical and health care industries.
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