July 11, 1989 |
Products Research & Chemical Corp. in Glendale said Monday that it has agreed to be acquired by Courtaulds PLC, a British company, for about $260 million. PRC makes coatings, sealants, adhesives and other specialty chemicals. It earned $8 million on sales of $100.3 million in 1988. Courtaulds, a chemicals, textiles and industrial products concern, had bought 10.5% of PRC in May for $25 a share, or $21.7 million.