The Grand Junction plant, which employs 45 people, also is ticketed for expansion as a result of the buyout by Sartomer Co., based in Exton, Pa., and a subsidiary of TotalFina Elf. Foreign markets account for about 20% of Ricon's annual sales.
Ricon's research chemists develop materials used in rubber and plastic compounds, oil pump electrical cables, ultraviolet coatings, printing plates, sealants and electrical cables.
The chemical plant has been located in Grand Junction for 13 years. It relocated from Golden, CO., latching onto Grand Junction's economic incentives while leaving behind an environmental dispute settled in recent years. The incentives - grants, tax abatements and about $122,000 in infrastructure development - will pay off with the announcement of an expansion, say officials.
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