Milliken & Co.'s Milliken Chemical subsidiary has purchased the assets of Rebus Inc., a North American supplier of pigment and additive dispersions for the thermoset plastics and high-performance industrial coatings markets.
No purchase price was disclosed in the deal.
Spartanburg, S.C.-based Milliken said the acquisition will allow it to broaden its portfolio, specifically to offer Rebus products to thermoset and coatings manufacturers in fast-growing markets such as the Asia-Pacific region.
This acquisition reinforces Milliken's commitment to our expanding thermoset plastics customer base around the world, Russ Rudolph, global business manager of the performance colorants and additives business at Milliken Chemical, said in a news release.
Rebus' pigment and additive dispersions are used in thermoset polyurethane cushioning foam for bedding, furniture, packaging and automotive applications. Its products also are in epoxy floor coatings and high-performance polyurea coatings used on bridges and in other construction applications.
Milliken previously had made products for thermoset PU applications, but the epoxy and polyurea markets are new for the firm, Rudolph said in an Oct. 16 telephone interview.
Although Rebus generates most of its sales from North America, Milliken now plans to sell its products worldwide, Rudolph added.
Milliken will continue to operate Rebus' existing headquarters manufacturing plant in Aston, Pa. That facility covers 40,000 square feet. Officials declined to provide sales data for Rebus or an employee count. Rebus company founder Jim Steever will assist Milliken in a business development consulting role.
The Rebus deal is the second purchase completed by Milliken this month. The firm earlier purchased Constantine LLC, a carpet tile and hard-surface flooring maker in Calhoun, Ga. Rudolph said that Milliken plans to do more acquisitions.
Milliken also has been active in new product development. At NPE2009 in June, the firm introduced a reinforcing additive that officials said delivers weight savings vs. traditional mineral-filled polypropylene.
Milliken ranks as one of the world's largest privately owned textiles and chemicals makers. The company's annual sales were estimated at $2.3 billion in 2007.
Copyright 2009 Crain Communications Inc. All Rights Reserved.