Boyd Corp Completes Acquisition of Industry-Leading Solimide® Business
Modesto, Calif. – September 11, 2014—Boyd Corporation, a leading global provider of engineered, specialty material-based energy management and sealing solutions,today announced it has completed the purchase of the Solimide® Foam business of Evonik Industries.The newly acquired businessnow operates as a division under the Boyd brand – a name that carries almost 100 years of tradition and vision.
Boyd Emerges as a Global Leader in Aerospace & Defense Precision Converting
With today’s announcement, the newly acquired business and its operations in Magnolia, Arkansas and Allen, Texas immediately begin delivering the benefits of Solimide® Foam within Boyd’s core and adjacent markets. Boyd’s integrated workforce now exceeds 2,000 associates worldwide. “We're delighted to complete this transaction, which affords an unrivaled opportunity in high-performing technology, positioning us to realize significant growth in commercial aerospace, defense and building infrastructure segments," said Mitch Aiello, Boyd Corporation President and CEO. "We welcome our talented new team members who join a company that is differentiated by our ability to leverage our sales and distribution channels, world-class supply chain and specialty material and energy management application expertise.” The brand will operate under Solimide®Foams, a division of Boyd Corporation. Solimide® Foam is a market leading, low-density, light weight polyimide foam spanning ducting and burn-through requirements as well as weight-critical acoustic damping and thermally insulating applications. Characteristics afford a wide range of high and low temperature resistance, fire retardant prowess, extremely low smoke and gas emission as well as excellent thermal and acoustic insulation properties. Along with its Modesto, California, headquarters, Boyd’s manufacturing and design hubs in the United States, Europe and Asia now include facilities in Chon Buri, Thailand, Elkhart, Indiana, Fairburn, Georgia, Gaffney, South Carolina, Gumi, Korea, Langfang, China, Magnolia, Arkansas, Nodinge, Sweden, Portland, Oregon, Shenzhen, China, Syke, Germany, Taipei, Taiwan, and Wuxi, China. The completion of this acquisition comes on the heels of Boyd's recent purchase of the Precision Die-Cut business of Brady Corporation (NYSE:BRC), an achievement that has solidified Boyd’s position as an industry-leading, global precision converter.
About Boyd Corporation
Boyd Corporation is a global provider of precision-engineered, specialty material-based energy management and sealing solutionswith specific expertise in engineering and design, manufacturing and supply chain management. The company operates in markets around the world and serves customers in electronics, mobile computing, medical technology, transportation, aerospace and other B2B and consumer-critical industries. For nearly 100 years, the Boyd brand has represented stability, adaptability and vision along with employing the most experienced team in the industry.
Boyd Corporation: One Company, Many Solutions. Visit us at www.boydcorp.com.