Benchmark Products Inc., a local manufacturer of metal-finishing chemicals, will combine with a Bedford, Ohio, company
and keep its headquarters and production in Indianapolis.
The combined company will be renamed Asterion LLC. Stock and assets exchanged in the merger, which involved no cash, were valued at $3 million. The merger takes effect Dec. 1.
Ã?Â¢??We are very excited that in these difficult times for manufacturers we have been able to weather the storm, experience growth, and strengthen the foundation of our business,Ã?Â¢?? Benchmark President Blair Vandivier said.
Benchmark is joining forces with Ohio-based New Surface Technologies. Vandivier, who will be CEO of Asterion, said the merger will add four or five employees to the Indianapolis headquarters on West 84th Street.
NST President Roger Sowinski will join the new company as senior vice president and chief technology officer.