Loctite Sells Permatex To Permatex

HARTFORD, Conn.--Permatex Inc. has expanded its international activities by buying the global Permatex trademark, brands and related products from Loctite Corp. The terms were not disclosed.

The company acquired Loctite’s North American automotive aftermarket business in August 1999, and purchased the latter’s Mexican hardware business in August 2000.

“New international enterprises are expected to add about $5 million to our revenues in 2001, mainly from the acquisitions we finalized last year,” said Permatex President Pat Formica. “The purchase of global rights to the Permatex brands plus several other acquisitions under discussion are projected to expand our international sales base to $25 million or more within five years.”

Formica added that the company completed an important domestic acquisition in 2000--No Touch North America, a high-value-added producer of tire and wheel care products with revenues of about $10 million. The company also acquired marketing rights to Nitrous Oxide Systems’ (NOS) fuel and fluid additive and treatment product lines, and the Slik-Pak brand of lubricants. “Acquisitions and the successful introduction of more than 50 new products and line extensions during the first nine months of last year resulted in Permatex achieving record revenues in 2000,” Formica noted.

“The Permatex story is even more remarkable, compared with the lackluster performance of the automotive aftermarket industry in 2000,” said Formica. “We have every reason to be excited about our prospects in 2001.”

Permatex brand names include The Right Stuff, Fast Orange, No Touch, Slik-Pak and NOS. The company is owned by the Automotive Performance Group.

For more information, contact www.permatex.com.