PRESS RELEASE
Contact(s):
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| Christopher Morrissey
Sun Chemical Corporation
Phone: 708-236-3533
chris.morrissey@na.sunchem.com |
Ed Faulkner
The Colors Group
Phone: 1-800-543-2323 ext. 486
ed.faulkner@na.sunchem.com |
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Sun Chemical Completes Acquisition of Bayer's High Performance Organic Pigment Business
Fort Lee, NJ
- February 06, 2003 -- Sun Chemical Corporation, a $3 billion specialty chemicals company and the world's leading manufacturer of printing inks and organic pigments, today announced the completion of its acquisition of Bayer Polymers LLC's high performance organic pigment business located in Bushy Park, South Carolina.
The business is a leading supplier of high performance organic pigments used in coatings for automotive, industrial and architectural applications and for coloring plastics and fibers. The portion of the Bushy Park facility being acquired by Sun manufactures Indofast® carbazole violet, Perrindo® perylene, Quindo® quinacridone, and Palomar® phthalocyanine pigments and includes the wastewater treatment plant for the Bushy Park site. Approximately 140 Bayer employees work in the high performance organic pigment business. They and the business will be integrated into Sun Chemical's Performance Pigments Group.
"This is a great addition to Sun Chemical's leading position in high performance pigments and enables us to better serve customers in the automotive finishes, industrial coatings, and other markets requiring high performance color applications," said Wes Lucas, Chairman, President and CEO of Sun Chemical.
Brian Leen, Vice President and General Manager, Performance Pigments Group, added, "The acquisition of Bayer's perylene, quinacridone and specialty phthalocyanine blue business will substantially enhance our technology portfolio. The addition of top industry professionals from Bayer's labs and facilities will greatly expand our overall capabilities."
In response to Federal Trade Commission requirements for this acquisition, Sun Chemical has agreed to divest its current perylene products line. The Ciba Specialty Chemicals Group will assume Sun's inventory and the toll manufacture of these products. The deal is expected to close Feb. 7. Details were not disclosed.
About Sun Chemical
Sun Chemical, the world's largest producer of printing inks and pigments, is a leading provider of materials to packaging, publication, coatings, plastics, cosmetics, and other industrial markets. With annual sales of more than $3 billion, Sun Chemical has over 12,500 employees supporting customers around the world. The Sun Chemical Group of companies includes such well-known names as Vivitek, Coates Lorilleux, Gibbon, Hartmann, Kohl & Madden, Swale, Usher-Walker and US Ink. In addition, Sun Chemical has many joint ventures, with the largest being its $1.5 billion Kodak Polychrome Graphics (KPG) joint venture with Eastman Kodak. KPG is a world leader in prepress products, services and equipment.
Sun Chemical Corporation in the United States of America and Sun Chemical Limited in England are subsidiaries of Sun Chemical Group B.V., the Netherlands. Sun Chemical has headquarters in Fort Lee, New Jersey, U.S.A.; Watford, England; and Weesp, the Netherlands. For more information, please visit our Web site at www.sunchemical.com.
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