Urethane Acquisition
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SANTA ANA — Urethane Technologies Inc. said Tuesday that it has completed the purchase of Brin-Mont Corp. of Greensboro, N.C., for $2 million in cash and about $50,000 in stock.
Urethane, a Santa Ana-based specialty chemical company, said it also assumed about $400,000 in outstanding Brin-Mont debt in acquiring it from Evans Industries Inc. of Detroit.
Brin-Mont, established in 1968, manufactures polyether and polyester polyols, which are key chemicals used in producing polyurethane systems.
Urethane said it expects to report this month that sales last year reached more than $26 million, nearly double the company’s 1994 figures. Brin-Mont sales in 1994 were about $8 million.
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