Dap

The new owner of Dap Products Inc. said yesterday that it would close 23 plants and eliminate more than 700 jobs as part of a corporate restructuring and consolidation, although the purge is expected to have little effect on the local adhesive and sealant maker.RPM Inc.'s moves to slash redundancies come less than a week after the Medina, Ohio-based company completed its $290 million purchase of Dap and announced plans to combine it with its Bondex adhesives division.Glenn Hasman, RPM's vice president of financial operations, said that while there are "synergies" and the potential for "cross marketing" between Dap and Bondex, the local company will likely not experience cuts from the restructuring.

RPM Inc. of Ohio said yesterday that it completed its acquisition of Baltimore-based DAP Products Inc. and DAP Canada Corp. for $290 million in cash.Dave Reif, vice president of finance for RPM, a sealant manufacturer whose brands include Rust-Oleum and Zinsser, said it will be "business as usual" for DAP's employees and customers.He said DAP will continue to be based in Baltimore under the leadership of President and Chief Executive Officer John McLaughlin, and no layoffs or plant closings are planned.

DAP Products Inc., which made a splash last summer when it became the first office tenant in the renovated American Can Co. in Canton, said yesterday that it will be acquired by an Ohio company for $290 million in cash.The acquisition by sealant manufacturer RPM Inc., whose brands include Rust-Oleum and Bondex, is expected to close next month. DAP is a subsidiary of the publicly traded London equity firm Wassall PLC.DAP moved its headquarters and research-and-development operations from Tipp City, Ohio, to Baltimore last summer.

The Florida developer working to construct a Ritz-Carlton hotel south of the Inner Harbor unveiled plans for the $100 million project to the city yesterday, including a newly designed 26-story tower -- significantly taller than previously proposed.The proposal presented yesterday to the city's Design Advisory Panel is an alternative to a two-building plan that would rise 135 feet.As it has in the past, developer Neil Fisher's proposals for the 250-room luxury hotel and 50-unit condominium project drew opposition because they would violate height restrictions in place through 2007 and require a change in city ordinances that govern the land adjacent to the Rusty Scupper restaurant.

Just a year ago, Chip O'Rear was spending as many nights as possible sleeping in his hammock, soaking up the sounds of the ocean."I literally lived on the beach," said O'Rear, who started his job as a technical sales specialist for DAP Inc. in April 1997.For his new employer, O'Rear gave up the sand dunes of California to head to landlocked Dayton, Ohio, and then packed up again a few months ago when the manufacturer of home improvement and building products moved its headquarters to Baltimore.

They make caulk. They make spackling compound. They make adhesives and roof sealants and window glazing. And now they've just finished making their biggest product of all -- a new world headquarters near downtown Baltimore.DAP Inc., a 133-year-old manufacturer and marketer of home improvement and building products, just completed the first phase of its corporate move from Dayton, Ohio, to Baltimore's harborfront.It is the first office tenant of the American Can Co. complex in Canton, now undergoing a $30 million transformation into an office and retail center near the water's edge.

Seeking to hire more than 100 people for its new Canton headquarters, adhesives manufacturer DAP Inc. kicked off a two-day job fair yesterday in Baltimore.And, as might be expected in a city that has suffered numerous recent job losses, the job fair drew a large crowd. DAP officials estimated that about 100 people were at the Inner Harbor Hyatt Regency by 2: 15 p.m., 45 minutes before the fair's official opening."We've not done this before," DAP Chief Executive Officer John McLaughlin said of the fair.

THE SALE of the IBM tower at a record price for a downtown office building and the headquarters move of adhesive manufacturer DAP Inc. from Ohio to Baltimore bode well for economic growth.IBM Corp.'s distinctive building at 100 E. Pratt St. was just sold for $137 million. The only other city sale of that magnitude happened 13 years ago when the 35-story USF&G Tower at 100 Light St. brought $100 million.Farther east along the waterfront in Canton, DAP Inc. announced plans to move its corporate offices and research facility from the Dayton area.

DAP Inc., a Dayton, Ohio-based adhesive manufacturer, said yesterday that it will move its corporate headquarters and research division to the old American Can Co. plant, a move that will bring more than 110 jobs to the Canton landmark.John McLaughlin, the company's president, said DAP was attracted to Baltimore largely because its airport has far more daily flights than Dayton's.Moreover, the company will have access to Washington's airports."It's an international business," McLaughlin said.

CINCINNATI -- A product that stops runs in pantyhose is among the best new products of the year, while chocolate-flavored salsa is among the biggest duds, according to a study by AcuPoll, a product idea screening company.The annual survey, which looks at more than 500 products, is designed to show which products are the best and worst new products of the year based on initial interest by those surveyed, not by potential for sales or product performance.AcuPoll said most of the products that were given a thumbs up by consumers provided convenience, like DowBrands' Baker's Mate nonstick ovenware line, which quickens cleanup.