By David Reed, UT EditorCleveland, Ohio-Lubrizol Corp, has agreed to sell its Telene resins business and related assets to RIMTEC Corp, a Tokyo-based joint venture between Zeon Corp. and Teijin Chemicals Ltd. Terms of the sale were not disclosed.The Telene materials are based on dicyclopentadiene (DCPD) and can be processed on reaction injection moulding equipment to yield tough, impact-resistant parts for sectors such as agricultural, earthmoving equipment and trucks.The deal includes Telene's business office in Brussels and its technical centre in Drocourt, France, a 4 Nov. statement from Lubrizol said. The Telene business generated revenues of less than €10 million ($12 million) in 2004, from sales of high-purity dicyclopentadiene (DCPD) Telene resins and proprietary catalyst systems, principally in Europe and China.Telene has a long relationship with RIMTEC, having served as its DCPD resin distributor for a number of years. This sale is good for everyone involved," claimed Don Bogus, president of Noveon, Inc., in the statement. "Since Lubrizol is always concerned with employees' welfare, we are very pleased that RIMTEC has offered all of the Telene employees opportunities in the new organisation. So it will be business as usual for customers," he added.The sale, which is expected to close early next year, is subject to certain regulatory approvals. It is not anticipated that there will be any barriers to receiving such approvals, the statement concluded. "
