Flint Ink Corporation, Ann Arbor, MI, sold key water-based overprint coatings technology and business assets to Noveon, Inc., Cleveland, OH on March 3.
The transaction covers Flint Ink’s water-based formulations with the exception of MVTR, tobacco and security coatings, which Flint Ink will continue to produce. As part of this agreement, Flint Ink will continue to provide sales and service for the products and customers that are being transferred to Noveon. Customers should see no change from the level of service they have received in the past.
The transaction is part of Flint Ink’s strategy to partner with dedicated manufacturers in order to expand its range of products and services.
“This transaction capitalizes both on Noveon’s expertise in coatings manufacture and on Flint Ink’s strong relationships in selling and servicing coatings in the printing and converting markets,” said Sean Mikaelian, vice president, packaging, Flint Ink North America.
For Noveon, the purchase is part of its strategy to expand its performance coatings graphic arts business.
“The graphic arts industry is very important to Noveon, and this acquisition strengthens our capability to serve customers in North America,” said Steve Demetriou, Noveon president and CEO.
With the closing of the transaction, the full transition is expected to be completed over the next 12 months.