DURHAM, N.C. (March 13)—Reichhold Inc. has completed negotiations to sell its Swift Adhesives business to Switzerland's Forbo A.G. for an undisclosed amount. Both parties expect to gain approval from the relevant authorities in the next few weeks and complete the transaction in April. Swift employs about 600 and has annual sales of about $250 million. Reichhold wanted to sell the adhesives business as part of a restructuring plan, while Forbo is looking to become a global player in the adhesives business. The acquisition more than doubles Forbo's sales in adhesives, which totaled about $145 million last year.
Forbo, Reichhold complete deal
Rubber & Plastics News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].