Japan’s Asahi Kasei Corp said on Thursday [19 July] it would buy U.S. car interior maker Sage Automotive Interiors for $1.06 bln, including debt.
Asahi Kasei said the acquisition is aimed at strengthening its position in the car interior market. It said it would disclose the impact of the acquisition on its earnings as soon as it closes the deal, pending regulatory approval.
By Junko Fujita
Source: Reuters
The investment enables the steam cracker to increase the share of renewable and recycled raw materials used in its (ethylene and propylene) production. The move supports the Borealis Strategy 2030 for a circular economy. The Porvoo investment program is expected to be completed in 2025.
Murray Auchincloss, bp’s CEO, said in a statement: “As I set out in February, BP’s destination from IOC [international oil company] to IEC [integrated energy company] is unchanged – and we need to deliver as a simpler, more focused, and higher-value company.
Founded in 1972, Tecnofilm has expanded its product portfolio over the years to offer a wider range of compounds and functional polymers for various industrial applications and technical articles. The company has patented several of its products.
