CARY, N.C.—Lord Corp. plans to sell its Aeroglaze and Chemglaze product lines and license its UltraConductive lightning strike protection products for worldwide sales to Groupe Socomore S.A.
While Lord is divesting its Aeroglaze and Chemglaze offerings, the Cary-based company will continue to manufacture all of the products in the two lines for Socomore, which is headquartered in Vannes, France, through a toll manufacturing agreement, the firm said.
The acquisition is expected to close at the end of September. Lord said it will not impact the company's work force.
Lord is selling the product lines and entering into the licensing pact with Socomore to focus on the company's core operations, said Ed Auslander, president and CEO of Lord.
Socomore CEO Frederic Lescure said the agreement with Lord “is an important milestone in Socomore's international growth strategy and we are enthusiastic about this partnership with one of the industry's leaders that reinforces our aerospace product portfolio with a high value added coating technology.”