Ufp industries acquires fire retardant chemical technologies, bolstering its r&d efforts

Grand rapids, mich., oct. 01, 2020 (globe newswire) -- ufp industries (nasdaq: ufpi) today announced that its ufp retail solutions business segment acquired the equity of fire retardant chemical technologies, llc (frct). founded in 2014 and based in matthews, north carolina, frct’s business includes a research and development laboratory specializing in developing and testing a wide range of high-performance chemicals, including fire retardants and water repellants. the company had approximately $6.4 million in sales in 2019. dr. futong cui, frct’s founder, president and chief technology officer, will continue to lead the company.
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