By: Anthony Clark
May 6, 2013
CHATTANOOGA, TENN. — The United Kingdom's Vita Group has sold Pathway Polymers (PWP) to U.S.-based Dash Multi-Corp Inc. The transaction was completed on April 30, and the value of the deal was not disclosed.
The Chattanooga-based PWP, which manufactures a polyurethane material used to flat-proof tires for the construction and mining industries, will retain all its staff who transfer to the new owner with their terms and conditions unaltered.
Nigel Hay, chief executive at Vita Compounding, a division of London-based Vita Group, said: "This disposal further improves the net cash position for the Vita Group and provides PWP with excellent opportunities for continued future development."
"The acquisition of Pathway Polymers fits with our growth strategy in expanding Maryland Heights, Mo.-based Dash's global polyurethane capabilities," added Andy Harris, chief executive of Dash. "This acquisition builds on our focus to deliver the best product and service to our customers.
"We are delighted to partner with the management and employees of Pathway Polymers and support their customers and growth worldwide."