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Borden Chemical to buy Spurlock.
- Article from:
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United Press International
- Article date:
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December 21, 1998
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Copyright informationCOPYRIGHT 1998 United Press International. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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COLUMBUS, Ohio, Dec. 18 (UPI)
Borden Chemical Inc. has announced its intention to acquire formaldehyde and resins producer Spurlock Industries Inc. for approximately $23 million.
Spurlock, based in Waverly, Va., has production facilities in Waverly; Malvern, Ark.; and Moreau, N.Y.
The agreed purchase price is approximately $3.40 a share. Borden Chemical also will assume approximately $13.4 million in liabilities.
Borden Chemical President Joseph Saggese said Spurlock will ...
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