Synthomer Plc Aquires Perstorp’s Belgian Facility
Perstorp has sold its additives activities to Synthomer for USD82.54 Million
Belgium: Perstorp Oxo Belgium AB, a Sweden based leading
specialty chemicals innovator and supplier, has announced the sale of its
additive activities to Synthomer plc, a major supplier of latices and
speciality emulsion polymers. The total consideration for the acquisition is
worth around USD82.54 million. Perstorp Oxo Belgium AB (‘Perstorp Belgium’) is
a subsidiary of Perstorp Group, that primarily serves the decorative and
industrial coatings industries. The company operates its business from a single
site located at Ghent, Belgium and employs 41 employees, who would be
transferred with the business. The divestiture is a Perstorp’s approach to
spread its core chemicals activities, leveraging its existing sales and
services, thereby driving its operational performance.
Techsci Research
depicts that the acquisition of Perstorp Belgium represents Synthomer’s
strategy to continue its growth and development. Since Perstorp Belgium
complements Synthomer’s existing markets and customers, the acquisition would
increase the access to new products and customers. Furthermore, it would expand
the market position of Synthomer in the global pigments market.
According
to the recently published report by TechSci
Research, “Global Pigments Market By Type, By Application, Competition Forecast
and Opportunities, 2011 – 2021”, global pigments market
size is estimated to cross US$ 34 billion by 2021. Segment-wise, inorganic
pigments dominated the overall market in 2015, and this trend is anticipated to
continue through 2021. Inorganic pigments are widely used in paints &
coatings and plastics to provide various functional properties such as heat
stabilization, antistatic, flame retardants, anti-block and UV stabilization.
In 2015, Asia-Pacific region dominated the global pigments market, owing to
huge presence of paints & coatings, plastics, construction and printing ink
industries, coupled with increasing investments across diverse industry
verticals.