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Business

Reichhold resins unit bought by Ashland

by Marc S. Reisch
April 17, 2017 | A version of this story appeared in Volume 95, Issue 16
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Reichhold has agreed to sell an unsaturated polyester resins facility in Étain, France, to Ashland. Reichhold says the sale of the facility, which employs 50 people, will help speed its planned merger with rival Polynt. Reichhold, owned by Black Diamond Capital Management, and Polynt, owned by Investindustrial, agreed to merge in May 2016 to create a maker of monomers and polymers for composites and coatings with more than $2.4 billion in annual sales. They need approval from the European Commission to complete the merger.

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