CINCINNATI - Reichhold Chemicals Inc. has expanded its European adhesives and resin offerings by acquiring Costenaro Mino SpA. Terms of the acquisition, announced Feb. 5 at the SPI Composites Institute's annual conference in Cincinnati, were undis-closed.
Costenaro, based in Pianezze, Italy, is a manufacturer of specialty adhesives and resins. The deal includes headquarters and manufacturing facilities, but the company did not disclose production capacity figures. However, 1995 sales for Costenaro were projected at more than 20 billion lira ($12 million). Giorgio Costenaro, managing director, will remain in that role.
Randall A. Weghorst, Reichhold executive vice president, said the company is making a global push for polyester business.
``Strategically, the deal is a good fit. It gives us a distribution and manufacturing presence in this area,'' he said. ``We're not strong in Europe and we're looking to be more on par with other companies around the world.''
``There are no clear market leaders in Europe, and we believe we can be a significant player there,'' he said.
Reichhold also announced it has reorganized its four operating divisions: Reactive Polymers, Emulsion Polymers, Coating Polymers and Swift Adhe-sives. They were replaced Jan. 1 with 23 market-focused business teams. Phill Ashkettle, president and chief executive, said the organization was getting in the way of its service.
``As our business has grown, we found areas of overlapping customers and markets between divisions that were not being properly addressed,'' he said in a news release.
Varying in size, with gross sales that range from $5 million to more than $100 million, the business teams will involve research and development and sales personnel, and free executives for strategic planning, Weghorst said.
Reichhold also announced it has reactivated its Azuza, Calif., plant that had been idled since 1990. It will provide polyester production capacity for West Coast customers, he said.