HOUSTON — March 16, 2023 — Archie Cox, Jr, Chairman of the Board for Corrosion Innovations, LLC {a global leader in the corrosion-prevention industry}, announced that they acquired the Chlor*Rid™ product line from Milliken & Company (“Milliken”) on March 16, 2023. The Chlor*Rid™ product line includes surface decontamination, passivation products, and salt testing kits for soluble salt detection and removal.
“Chlor*Rid™ has been a staple of the industry for over 30 years and was a strategic target of ours from day one,” said Marlin Lester, CEO of Corrosion Innovations. He continued, “The liquid products and test kits are utilized all over the world by many different industry segments, including the U.S. military. Our team of AMPP-certified subject matter experts is ready to integrate Chlor*Rid™ into our market-leading business and provide a synergistic approach to soluble salt removal and testing in the industry.”
“Our approach to integrating the business will be the same as we have done with the Corr-Ze™ product line. We will invest in inventory to offset how this ever-changing world can impact supply chains.” Corrosion Innovations will provide continuous improvement and seek the counsel of its large customer base of end users to achieve this. We are excited about this acquisition and look forward to exponential growth in the second quarter,” Lester concluded.
“The Chlor*Rid™ team has developed the premier salt testing and removal solutions,” said Matt Valentine, Corrosion Innovations’ new Director of Sales and long-term employee of Chlor*Rid™ Products. “I am confident that Corrosion Innovations will continue to provide the service that our customers have come to expect and that our collective industry expertise will unlock the full potential of the Chlor*Rid™ product offerings.”
Gregg Taney, President of Corrosion Innovations, touted “the strong distribution network that Corrosion Innovations has combined with Chlor*Rid™ will be a powerhouse. The distributors are instrumental to the success of any venture, especially one of this capacity. We will not follow suit with competitors with eCommerce as this does nothing but undermine the people that are out selling your products with boots on the ground.”
Milliken decided to divest its Chlor*Rid™ line because it no longer aligned with the company’s overall coating additives business strategy. Milliken will continue to serve the coating additives market with its diverse portfolio, which includes Borchers: A Milliken Brand—a global leader in performance additives for the coatings, inks, and adhesives markets.
Robinson, Bradshaw & Hinson, P.A. acted as legal advisor to Milliken. Corrosion Innovations was represented by legal advisor Ice Miller LLP.
Posted: March 17, 2023
Source: Corrosion Innovations
