News wire article from our research archive:

Borden Chemical to buy Spurlock.

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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