23 August 2001
23 August 2001
Ashland has purchased Polydyne Inc.’s gel-coat business and assets – the newly acquired business will operate within the Composite Polymers Division (CPD) of Ashland Specialty Chemical Company.
The division plans to lease -- and continue operations at -- the former Polydyne gel-coat manufacturing plant, located in Johnson Creek, Wis., about 35 miles east of Madison, Wis. “This acquisition strengthens Ashland’s gel-coat operations in North America -- particularly near our extensive customer base in the upper Midwest and eastern Canada,” said James A. Duquin, president of Ashland Specialty Chemical Company. “Specifically it provides us new, open-molding technologies, reinforcing Ashland’s long-term commitment to the gel-coat and composite industries.” Ashland’s acquisition of Polydyne Inc.’s gel-coat business comes on the heels of Ashland’s Apr. 30 purchase from Dynea Oy of Neste Polyester’s business and assets, including gel coats for the marine, building and construction, and transportation industries worldwide.
Larry A. Baker, CPD’s vice president and general manager, said, “Both these acquisitions broaden CPD’s product line and geographic coverage, allowing us to provide our customers more responsive delivery and more product choices.” Thomas L. Meyer, owner of Polydyne Inc., said, “Customers can expect a continuation of quality service from Ashland, the new owners. I’m pleased that a company of Ashland’s stature, technical expertise and responsible professionalism has stepped in to carry on the gel-coat business that I have owned since 1991.”
Polydyne Inc. is a specialty-coating company that will continue operating in the roofing and protective-coating industry. The Composite Polymers Division of Ashland Specialty Chemical Company supplies products, processes and composite technologies to the global marketplace for reinforced-plastic composites and gel coats.
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