Industry News

Product lines acquired by Borden Chemical

Published on 2004-01-05. Author : SpecialChem

The assets of Southeastern Adhesives Co., a producer of specialty adhesives, have been acquired by Columbus-based Borden Chemical Inc. for an undisclosed sum.

Southeastern Adhesives is based in Lenoir, N.C., and manufactures products such as hot melt adhesives and water-borne adhesives, which according to Borden Chemical, will complement its products for the furniture and millwork industries. It is reported that the acquired products had sales of about $7 million in 2002.

It is also reported that Borden did not acquire Southeastern Adhesives' Lenoir plant, but will make the products at its own plants.

This year, between the two companies, it is the second transaction. Borden Chemical acquired Southeastern Adhesives' filtration media resins business in July. Borden Chemical bought Fentak Pty Ltd., a Somersby, Australia-based producer of specialty chemical products for the engineered wood, paper processing and laminating markets in November.

It is reported that the acquisitions come after Borden Chemical spent several years selling off pieces of its business.

After the dairy business was sold in 1997 and its adhesives and foods units were sold in 2001, Borden Chemical is the lone remaining unit of the former Borden Inc. conglomerate. Borden Chemical is reported to provide formaldehyde, UV-light curable coatings, industrial resins and adhesives, and other products.

Borden Chemical is owned by an investment firm of New York, known as Kohlberg Kravis Robert & Co..

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