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November 20, 2007 |
OM Group, Inc., Cleveland, OH, has announced the acquisition of Borchers GmbH, a European-based specialty coatings additive supplier. The Borchers operation will be integrated with OMG's existing Advanced Organics business. �Borchers is an excellent fit with our advanced organics coatings business. It extends our current product line into water-based coatings,� said Joseph M. Scaminace, Chairman and Chief Executive Officer of OMG. �Moreover, this acquisition provides further expansion into the European and Asian markets, which only serves to strengthen OMG.�
According to OMG, Borchers products improve processing options, free-flowing properties, consistency, gloss, control surface drying and drying out properties, enhance rheology and dispersency, optimize resistance to a diverse range of stresses and shape the environmental compatibility of contemporary surface hardening. Founded in 1807 as a family-run business and formerly owned by Bayer AG, Borchers has belonged to the Lanxess Group since 2004. OMG has acquired Borchers from Lanxess. Borchers' sales were approximately euro 36 million in 2006.
www.omgi.com
www.borchers.com
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