Reichhold Gains IPS as Wholly-Owned Subsidiary
RESEARCH TRIANGLE PARK, N.C. --Nov. 8, 2002--Reichhold, Inc., a leading provider of synthetic materials announced today that it recently obtained Innovative Performance Systems, Inc. (IPS), a supplier of pavement marking materials, as a wholly-owned subsidiary.
Reichhold purchased IPS stock from Mark Rite Holding Co., LCC in January 2002 making Reichhold a complete owner in IPS stock. Today IPS remains an independently operating company with a separate board of directors from its parent company. "Not only is IPS an innovative leader in the pavement marking industry, but the company is committed to increasing the safety and durability of our nation's highways and proactively involved in roadway safety legislation and environmental issues," stated Tom McSwain, president of IPS. "The synergy of our companies' passions for innovation and safety is an equation for success." IPS offers three pavement marking solutions, HPS-3 Epoxy, HPS-4 Modified Urethane and HPS-5 Polyurea, with the goal to extend the striping season, improve work zone safety, and create a more durable material. All IPS products are developed at the state-of-the-art laboratory facility at the Reichhold, Inc. world headquarters located in Research Triangle Park, North Carolina. About Reichhold Reichhold, with its world headquarters and technology center in Research Triangle Park, North Carolina, USA, is a leading manufacturer of unsaturated polyester resins, coating and performance resins for the automotive, appliances, coatings, plastics, textile, construction, transportation, marine and graphic arts markets. Celebrating its 75th anniversary, Reichhold has manufacturing operations throughout North America, Latin America and Europe. Founded in 1927, Reichhold is owned by Dainippon Ink & Chemicals (Tokyo, 4631), the world's largest producer of printing inks and polyester resins. About IPS, Inc. Founded in 1998, Innovative Performance Systems, Inc. (IPS) offers a total solution approach for high performance, durable roadway markings including technologically advanced pavement marking materials and on-site technical support. With an entrepreneurial spirit, a focus on safety and a passion for product and technology innovation, IPS is a market driven organization with the goal to consistently fulfill the needs of its customers and valued partners in the pavement marking industry. For more information on IPS, visit www.ips-road.com. IPS is a wholly-owned subsidiary of Reichhold, Inc., a leading manufacturer of synthetic materials for composites and coating and performance resins for the automotive, industrial, marine, architectural, plastics, construction, transportation, powder coatings and graphic arts markets. IPS and Reichhold are based in Research Triangle Park, North Carolina. For more information on Reichhold, visit www.reichhold.com.
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