A company that started in Erie back in 1924 is reportedly looking for new ownership. Bloomberg News is reporting Erie’s LORD Corporation could be for sale.
The report indicates the Cary, North Carolina-based adhesive and coatings manufacturer could be worth as much as $3 billion.
LORD Corporation was founded here in Erie in 1924 by Patent Attorney Hugh Lord. The company now operates in 20 countries.
In 2014, LORD Corporation consolidated its Erie operations into a new complex in Summit Township. It recently announced an $80 million expansion plan at its Saegertown plant in Crawford County.
There are 3100 LORD employees worldwide, 1,000 of them in Erie and Crawford Counties.
The company is not responding to the speculation.