Uniseal Inc., an Evansville-based manufacturer of specialty adhesives and sealants, was recently acquired by LG Chemical of Seoul, South Korea.
Brandon Willis, Uniseal President, said its parent company, Koch Enterprises, believes that LG Chem has the capabilities and international footprint to help Uniseal expand its global footprint and become a key player in the automotive adhesives industry. LG Chem supplies batteries to General Motors, Volvo, Renault and Hyundai Motor Group for electric and hybrid vehicles.
Uniseal, which has been in business since 1961, had been a part of Koch Enterprises, an Evansville-based holding company that operates multiple business throughout the region. Products manufactured by Uniseal are used primarily in the transportation industry. In fact, the automotive/heavy truck/trailer market segments account for more than 80% of the company’s business, with GM and Ford Motor among its key clients. It reported sales of approximately $60 million in 2017.
Uniseal’s primary manufacturing facilities are in Evansville; Derby, United Kingdom; and Shanghai, China. The company currently employs 155 people.
Willis said the combined company will bring new technologies to Evansville and expand Uniseal’s capabilities, facilities and workforce.
“As a part of Koch Enterprises, Uniseal was transformed into a high-tech, niche player in the adhesives industry through the addition of advanced adhesive production equipment and the latest Research & Development and Engineering technologies,” said Willis.
“We are thankful for the guidance that has been given to us as a Koch subsidiary,” he said. “As we now transition to new ownership, we are excited about the opportunity to leverage the global strength of LG Chem to further expand our role in the automotive adhesives industry.”