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3M introduces new line of duct tapes for extreme, rough conditions

BY Allison Cerra

ST. PAUL, Minn. 3M is rolling out new tapes designed to withstand tough repairs.

New Scotch tough duct tapes are able to withstand such outdoor elements as sunlight and moisture and are weather resistant, featuring a durable, waterproof backing, 3M said. Additionally, Scotch tough duct tapes feature UV resistance, standing up to temperatures as high as 200 degrees Fahrenheit.

The new line consists of:

  • Scotch tough duct tape – No Residue: This maximum strength duct tape removes easily and leaves no sticky adhesive behind for up to six months. With an application range of up to 200 degrees Fahrenheit and UV resistance, no residue tough duct tape has long-lasting performance without leaving a sticky mess.
  • Scotch tough duct tape – Extreme Hold: Tremendously strong with rugged woven material and a double-thick adhesive layer for a tougher grip, extreme hold tough duct tape won’t tear or break under pressure, making it ideal for demanding repairs.  The tape’s waterproof barrier helps it adhere securely under the most extreme weather conditions for tough projects and repairs in all seasons, over the long haul.
  • Scotch tough duct tape – Transparent: Breakthrough 3M technology made this tape the first transparent duct tape on the market for virtually invisible repairs. Now with stronger holding power and clean removal, this transparent tape lasts longer than ordinary 3M duct tapes, making it the perfect solution when appearance matters most.
  • Scotch tough duct tape – Heavy Duty All-Weather: Designed for long-term, permanent exterior repairs, this heavy duty all-weather duct tape resists drying, cracking and peeling caused by tough outdoor elements, such as sunlight, heat, cold and moisture — allowing it to last significantly longer outdoors than other 3M duct tapes.
  • Scotch tough duct tape- Outdoor Painter’s Clean Removal: Designed with professional painters in mind, this tape has a high adhesion level so it sticks to rough surfaces like brick and stucco.  Featuring 3M’s sunlight blocker technology, this outdoor painter’s tape removes cleanly for up to 14 days and has a waterproof backing, making it the ideal choice for applications that require moisture proofing and sealing.

The new Scotch tough duct tapes are available at home improvement, mass merchandisers, paint stores and hardware stores nationwide, and range in price from $5.79 to $9.77, depending upon the product.  For more information on the line of Scotch tough duct tapes, visit www.ScotchToughTape.com.

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Rite Aid completes refinancing of securitization facilities

BY Michael Johnsen

CAMP HILL, Pa. Rite Aid on Monday successfully completed its previously announced plan to refinance its existing first lien accounts receivable securitization facility and second lien accounts receivable securitization facility due September 2010. As a result of the refinancing, Rite Aid has refinanced all of its September 2010 debt maturities.

As of Oct. 23, 2009, there was $475 million outstanding under the securitization facilities. The refinancing consists of an offering of $270 million aggregate principal amount of 10.25% senior secured notes due 2019 (with a yield to maturity of 10.375%, based on an offering price of 99.242% per note), commitments to increase the maximum borrowing capacity under Rite Aid’s existing senior secured revolving credit facility from $1 billion to $1.175 billion, and an increase in borrowings under Rite Aid’s existing $525 million senior secured term loan due June 2015 by $125 million to $650 million.

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Former Rite Aid executive becomes Value Drug Co. president

BY Michael Johnsen

ALTOONA, Pa. Greg Drew last week joined Value Drug Co. as president, the regional pharmacy wholesaler announced.

Drew most recently served as a consultant through his company Pharmacy Expertise. Prior to founding Pharmacy Expertise, Drew served as VP pharmacy health services for Rite Aid and as GM of Rite Aid Health Solutions.

Drew will be responsible for Value Drug’s long term business development as well as all operations and management of the company, reporting to John L. Letizia, Value Drug chairman and CEO.

Value Drug is a cooperative company providing wholesale drug distribution and various other services to its members.

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