The announcement coincides with an acquisition with German based Ecronova Polymer, manufacturer of water-based polymers used in the production of paints and lacquers.
The purchase includes all assets, technology and manufacturing facilities. The name Ecronova Polymer will continue to be used for business operations and its products will remain unchanged in name and formulation.
Steven Shifman, president and CEO, Michelman, said the move has given the company a physical presence in Germany and increases its European footprint and Jean-Marc Verhaeghe, MD, Michelman, will assume overall operational responsibilities at Ecronova Polymer.
It now has product development and manufacturing facilities in Belgium/Luxembourg, Germany, the US and Singapore, plus a technical service center in Shanghai.
“Bringing the two companies together is going to solidify our position as the company that is truly capable of helping our customers win and grow,” said Peter Montag, co-managing director, Ecronova Polymers.
Shifman said Michelman is always developing or seeking technologies that will help customers win and grow.
“We're expanding and increasing our footprint in the Americas, Europe and Asia,” he added.
“Recyclability is a growing concern within the industry right now. The HydraBan 420 water repellent coating is cold set gluable with most adhesives and FDA-compliant for direct food contact, repulpable and recyclable.
“It is a very durable, economical coating with or without dilution and can be applied in-line on the corrugator from the wet or dry end, with a rod or blade coater, or by flexo,” he added.