By Liz White, UT editor
New York-With effect from 5 Jan 2007, LC Group Inc. has acquired Crowley Chemical Inc. and Crowley Tar Products Inc., for an undisclosed price.
A brief statement from Crowley said that Bill Callanan, president of LC Group, will become ceo of both companies. Bill Jennings, the previous majority owner of Crowley, will remain with the companies in his current position as president.
All of the key management will remain in place as the company "moves forward to implement its growth strategy," said the statement.
Typical Crowley Chemical products are Viplex and Vycel aromatic exender oils, which the company claims are "compatible with virtually all two-component thermosetting systems, with little or no impact on physical properties."
Chris Mortensen, technology manager Crowley Chemical, said in a company statement, "Some resin end users have reported they have been able to lower the amount of resin they use in the formulation, expanding the cost savings to the manufacturer."
Crowley lists as examples of suitable end uses for these extender oils, adhesives, particularly carpet rebond adhesives, and moisture-cured polyurethane compounds.
Such oils can help formulators cut costs, which is especially valuable in today's climate of ever-increasing prices for raw materials, according to Crowley Chemical. "