Reichhold, Inc., and Ennis Paint, Inc., have announced the formation of Innovative Performance Systems, LLC (IPS), a joint venture between their epoxy, modified-urethane and poly-urea based roadway marking businesses. IPS is owned 50% by Reichhold and 50% by Ennis Paint.
Reichhold's subsidiary Innovative Performance Systems, Inc. has enjoyed a close commercial relationship with Ennis Paint. In 2002, Ennis Paint began toll manufacturing products for Reichhold. In 2003, Ennis Paint began acting as a sales representative of Reichhold.
IPS was formed to offer a total solution approach for high performance, durable roadway markings, including technologically advanced pavement marking materials and on-site technical support.
Tom McSwain, president of Reichhold's subsidiary, Innovative Performance Systems, Inc., will serve as president of IPS. McSwain said, "IPS will capitalize on the domestic and global technological and market strengths of both Reichhold and Ennis Paint. We look forward to better serving the traffic safety industry. IPS allows us to deliver multiple products to the customer on one shipment and increase overall customer and technical services."
"We are extremely excited about the formation of IPS," said W. Bryce Anderson, chairman of Ennis Paint. "Reichhold and Ennis Paint have been working together successfully for several years, but this more formal, long-term relationship will enable both companies to ensure that the market is provided with the best products and services in the industry."
IPS will be located at Research Triangle Park, NC, the world headquarters of Reichhold.