May News Briefs
KECO Coatings acquires Teknix Powder Coating
KECO Coatings has completed the acquisition of Teknix Powder Coatingin Statesville, N.C. This acquisition will enable KECO to transition its Teflon and plasma coating technology into the southeast. KECO Coatings is a developer and applicator of high-performance coatings for the printing, packaging and other industries.
Mason Wells acquires Coating Excellence International
Mason Wells has acquired domestic converter Coating Excellence International llc through the Mason Wells Buyout Fund II, Limited Partnership. Mason Wells, along with Coating Excellence management and other co-investors, acquired the equity of the company from CEI’s existing shareholders.
Rohm and Haas announces price increases
Rohm and Haas Co.’s, Packaging and Building Materials business announced a list and off-list price increase for all acrylic, vinyl acrylic and styrene acrylic based emulsions andsolution acrylic polymers sold to several North American industries, including pressure-sensitive adhesives. The increase of 6% to 8% will be effective April 1, or as contracts allow.
Nano-Terra signs agreement with Nestec
Nano-Terra, Inc., a privately-held company focused on the commercialization ofindustrial applications of surface chemistry, has signed two technology collaborationagreements with Nestec Ltd., the research arm of food giant Nestlé. The companies will work together to use new techniques to develop and bring to market advanced pet product packaging solutions and manufacturing processes.
Montalvo opens office in Shanghai
The Montalvo Corp. has expanded its overseas operations by opening a branch inShanghai, China. It is known as Montalvo (Shanghai) Trading Co. Ltd., a whollyowned subsidiary of Montalvo Holdings. The Shanghai branch will eventually servecustomers not only in China but throughout Asia and the Pacific region.
Cereplast granted European formulation patent
Cereplast Inc., developer and manufacturer of proprietary, bio-based, sustainablebioplastics, has secured additional patent protection for the Cereplast CompostablesResin family of products from the European Patent Office. The company has developed and commercialized two families of resins: the Cereplast Compostables and the Cereplast Hybrid Resins. Each family of resins has several patents underlying the technology, covering primarily the formulation of the resins. Currently, Cereplast holds four patentswith an additional 23 patents pending both in the United States and abroad, covering both resin families. Cereplast originally filed for patent protection in 2004 and the first patent was granted in 2006 for the company’s proprietary resin formulation. In addition, Cereplast acquired the exclusive rights to two additional patents from the University ofNebraska, related to thermoplastic starch.
Gloucester Engineering signs labor contract with union
Gloucester Engineering Co. Inc. has signed a labor contract with its union-the longestcontract term in the company’s history. More than 140 employees, who are also members of the Cape Ann Local Lodge 2654, of the International Association of Machinists and Aerospace Workers, AFLCIO, reached a four-year agreement with the company and its new owners. The contract included a significant increase in tuition reimbursement as an investment in the employees’ education.
Flint Group acquires packaging ink businesses
Flint Group has signed an agreement with Siegwerk Group to acquire Siegwerks’s packaging ink business in Australia and New Zealand. The agreement includes the intangible assets, sales, marketing and distribution channels of Siegwerk in both countries. The product range embraces flexible packaging (film and foil), sheet-fed, decorating inks and coatings. The acquired business in Australia and New Zealandhas annual sales of around 25 million euros. The transaction was expected to close end of April 2008, subject to the Australian Competition and Consumer Commission approval. Financial terms have not been disclosed.