Michelman Sells Wood Release Product Line to Polymer Solutions Group
CINCINNATI, OH AND ALBANY, GA (August 7, 2017) — Today, Michelman, Inc., a global developer and manufacturer of environmentally friendly advanced materials, announced that it has sold its Wood Release Agent Product Line to SASCO Chemical, a Polymer Solutions Group (PSG) company.
According to Michelman’s President and Chief Executive Officer, Steve Shifman, “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.”
Mike Ivany, President and Chief Executive Officer of PSG, added “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.”
To ensure the smooth transition of current customers, Michelman will continue to manufacture the acquired products for PSG while the production capacity is ramped up at PSG production facilities.
Michelman is a global developer and manufacturer of environmentally friendly advanced materials for industry, offering solutions for the coatings, printing & packaging and industrial manufacturing markets. The company’s surface additives and polymeric binders are used by leading manufacturers around the world to enhance performance attributes and add value in applications including wood and floor care products, metal and industrial coatings, paints, varnishes, inks, fibers and composites. Michelman is also well-known as an innovator in the development of barrier and functional coatings, as well as digital printing press primers that are used in the production of consumer and industrial packaging and paper products, labels, and commercially printed materials. Michelman serves its customers with production facilities in North America, Europe and Asia, product development and technical service centers in several major global markets, and a worldwide team of highly trained business development personnel.