Flint Ink, of Ann Arbor, MI, has sold water based overprint coatings technology and business assets to Noveon Inc., of Cleveland. Noveon produces specialty chemicals for a range of consumer and industrial applications.
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 the agreement, Flint Ink will continue to provide sales and service for the products and customers that are being transferred to Noveon.
Noveon, which has regional centers in Brussels, Belgium, and Hong Kong, had sales in 2002 of $1.1 billion and employs about 2,800 at office and manufacturing locations around the world.