CARY, N.C. (March 7) — Lord Corp. has reached an agreement to buy the rubber-to-substrate bonding and rubber coating business of Duesseldorf, Germany´s Henkel KgaA.
The transaction is conditional on customary closing conditions, including the required antitrust approvals. The business mainly serves automotive and industrial makers of rubber molded and extruded components, and includes the trade names Chemosil, Flocksil, Cuvertin and Sipiol.
Lord said that Henkel employees who have been in technical and commercial jobs dedicated to the business will transfer to Cary, N.C.-based Lord.
Rick McNeel, Lord president and CEO, said the deal "will allow us to better serve our global customers in the European region and is in line with the strategic commitment Lord Corp. has to the European region in all areas of activities."