Covestro AG has sold its U.S. polycarbonates sheets business to Ohio-based Plaskolite for a price in the “high double-digit million” dollars range, the German company said Thursday.
Covestro said it will be an asset deal that is expected to complete in the third quarter of 2018. All employees working for the sold business will join acrylic-sheets manufacturer Plaskolite, it said.
The company–which was formed by the spin off of Bayer AG’s (BAYN.XE) specialty plastics division–said operations will continue at the current facility in Sheffield, Massachusetts.
Covestro said its sheets business in the U.S. generated sales of about 170 million dollars in 2017.
By Marc Navarro
International Chemical Investors Group (ICIG) has entered exclusive negotiations with Nippon Soda and made what it said is a “firm and binding offer” to acquire the Japanese group’s offshoot Métaux Spéciaux (MSSA), a sodium metal specialist.
Aligning with the SC’s key initiatives on responsible plastic recycling, Coca‑Cola Middle East’s pilot of 100% rPET bottles marks the first time the packaging will be in circulation at a FIFA World Cup tournament and serves as Coca‑Cola’s debut in locally producing the bottles in the region.
Through the transaction, Neste is acquiring a leading UCO collection and recycling business on the US West Coast, covering the collection, logistics and storage of UCO in California, Oregon and Washington. Together with the previous acquisitions (…) the transaction continues to enhance Neste’s global raw materials sourcing platform.