Baltimore, MD (March 19) -- In a move to strengthen the company's focus on its core businesses, DAP Inc. reached an agreement to sell its Durabond family of professional ceramic, carpet, and vinyl installation products to Bostik Findley.
"Strategically, this is a great move for DAP," said John J. McLaughlin, president and CEO of DAP. "This positions us for expansion in our businesses and allows us to focus on growing our core product lines, while strengthening relationships with our key customers."
The sale is scheduled to close March 30. DAP will transfer all of its assets in the professional tile and flooring business, including three manufacturing facilities in Orange, Calif.; Conyers, Ga.; and Paulsboro, NJ to Bostik Findley. Financial terms of the deal were not disclosed.
The Durabond product family includes ceramic tile adhesives, mortars, grouts, and additives, as well as professional floorcovering patches, underlayments, and adhesives.
DAP will continue to market its full line of retail floorcovering adhesives under the DAP/Weldwood brand.