Reichhold announces management buyout

Reichhold has reached an agreement
with Dainippon Ink and Chemicals,
Inc. (DIC) for a management buyout.
Reichhold has been a wholly owned
subsidiary of DIC since 1987. DIC
had planned a restructuring of the
company and concluded that the sale
of all shares of Reichhold to the existing
management team was in the
best interest of both firms.
“We appreciate the relationship
we have enjoyed with DIC over the
years,” said John Gaither, president
and CEO, Reichhold. “Our relationship
now takes on a different character,
but we anticipate that it will continue
to be a productive and cordial
one.We look forward to many continued
years of mutual success.”
Reichhold manufactures resins,
gel coats and bonding pastes for the
composites industry as well as a variety
of polymers for the coatings and
graphic arts markets. Under terms of
the agreement, although DIC will
retain its Austrian coatings operations,
both DIC and Reichhold will be
free to continue to independently supply
the coatings market worldwide.