Saiden, Maker of Acrylic Polymers, to Better Serve NA Market with Purchase of Japanese Parent

SANFORD, N.C. -- The management of Saiden Technologies, Inc. is pleased to announce that it has acquired 100 percent of the companys stock from its parent company, Saiden Chemical of Japan.

The company, which has been renamed STI Polymer, is a maker of acrylic emulsion polymers. It will continue to operate its plant in Sanford and will be led by its current management team, which has been in place since the plant opened in 2001.The acquisition includes full rights to the companys existing product portfolio and a technical support agreement under which STI Polymer will maintain access to Saiden Chemicals deep R&D resources.

"We believe that local ownership will allow us to serve our North American customers with greater focus, compared to operating as a non-strategic asset of Saiden Chemical," said Jeff Lamb, who continues in his role as company President. "We are very pleased that we will be able to maintain our excellent workforce and state-of-the-art facility, and look forward to continuing to serve our loyal customers with the products and services they have come to expect."

The financing of the acquisition provides STI Polymer with ample liquidity to support its plans for rapid growth. "We are excited that our new freedom of action will open up the prospect of growing into new products and markets," Lamb said.

About Saiden Technologies

For over 60 years, Saiden has been a leader in creating specially formulated products for clients worldwide. Its extensive research and development ensures high quality products specifically designed to meet expectations.