Cincinnati, OH-based raw material supplier Michelman has acquired the 50% interest in Michelman Asia-Pacific Pte. Ltd. previously held by Drex-Chem Industries Pte. Ltd. Michelman Asia-Pacific—a 50/50 joint venture between Michelman and Drez Chem Industries—has established a regional manufacturing facility for Michelman performance additives and coatings. According to the company, the joint venture has enabled Michelman to begin regional operations, develop an Asian strategy and grow sales.
Michelman’s acquisition was prompted by the growing acceptance of its products in the nonwovens market. The company expects this acquisition to further enhance sales growth.