According to Mike Ivany, president and CEO of PSG, “The acquisition of Michelman’s Michem® Wood Release agents will advance PSG’s strategic goal of growing its product portfolio of functional materials for the construction industry. Specifically, this solidifies PSG and SASCO as a dedicated supplier to the engineered wood market and provides a platform to expand PSG’s presence into other technical and geographical areas.“
MIchelman’s president and CEO, Steve Shifman added, “We are extremely proud of the development of our engineered wood release business over recent years. Michelman’s technical and business development associates identified a changing commercial environment and acted to fulfill the needs of our customers. This segment continues to develop and we are pleased that these customers will now be served by SASCO.”
To ensure the smooth transitions of current customers, Michelman will continue to manufacture the acquired products for PSG while the production capacity is ramped up at PSG production facilities. Over the next few months, SASCO’s legacy engineered wood products and the newly acquired products from Michelman will be integrated into PSG’s Functional Materials business segment. Products will be sold under PSG’s existing brand name, TechKote. As a technical leader in the research, development and manufacturing of speciality chemicals, PSG is well positioned to meet the production, quality and service demands of the growing engineered wood market.