Popular Posts

Thursday, 5 January 2017

Solvay divests formulated resins business to Altana

BRUSSELS, BELGIUM/ WESEL, GERMANY: Solvay SA has agreed to sell its formulated resins business to Altana AG. This business will be integrated into Elantas Pdg Inc, a division of Altana, located in St Louis, Missouri.
Solvay’s business generated sales of $20 million in 2015. The divestment includes the Formulated Resins product portfolio, the manufacturing and R&D facility based in Olean, New York (US), and all associated technical, commercial and administrative staff.
The formulated resins portfolio mainly entails the CONAP brand epoxy resin and polyurethane product systems and serves electronics, electrical and speciality adhesives markets. Completion of the deal is expected in the first half of 2017, with antitrust approvals.
“This deal enables technology solutions to further extend our leadership position in our core polymer additives business. In Altana, the formulated resins business has a strategic buyer to position it for continued growth,” said Michael Radossich, president, Solvay technology solutions.
“By acquiring the formulated resins business of Solvay, we are reinforcing our position as a technology leader and expanding our business in North America,” added Martin Babilas, CEO of Altana.
© Worldofchemicals News
Read More: Solvay divests formulated resins business to Altana

Follow by Email