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7th March 2017, UK

Synthomer acquires Belgian speciality chemicals supplier

Perstorp Belgium operates from a single site in Ghent, Belgium. Synthomer, a leading speciality chemicals company, has announced the acquisition of Perstorp Oxo Belgium AB from The Perstorp Group, a speciality chemicals innovator and supplier, based in Sweden. The acquisition, worth EUR 78 million, has been completed on 5 March.

Perstorp Belgium is a niche performance additives business serving the decorative and industrial coatings industries. It has strong market leadership positions and serves a highly attractive, blue-chip customer base. The business operates from a well located, single site in Ghent, Belgium, where there is potential for growth capacity for future demand, according to the company.

“The acquisition of Perstorp Belgium represents another step forward in our strategy to continue to grow and develop Synthomer. The business is an excellent fit and provides increased access to new products and customers. We look forward to welcoming our new colleagues and integrating the business with Synthomer through the remainder of this year,” commented Calum MacLean, Chief Executive Officer of Synthomer.

Perstorp Belgium is highly complementary to Synthomer’s existing markets and customers, according to the manufacturer. The Group will focus on expanding Perstorp Belgium’s market position by developing closer relationships with customers through leveraging its existing sales and technical services infrastructure, and driving operational performance.

In the year that ended on 31 December 2016, Perstorp Belgium generated reported earnings before interest and tax of EUR 8 million. At 31 December 2016, Perstorp Belgium had gross assets of EUR 21 million.


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