Sector News

Reichhold gains conditional EU approval for Polynt buy

May 15, 2017
Chemical Value Chain

U.S. chemicals group Reichhold secured EU antitrust approval on Friday for its proposed buy of Italian polymers maker Polynt after pledging to divest a facility in France to U.S. company Ashland Global Holdings.

Reichhold, owned by a group of investors including Black Diamond Capital, had announced the asset sale last month. The plant, located in Etain in north-east France, is Reichhold’s largest unsaturated polyester resin plant.

The European Commission said the asset sale addressed its concerns about the competitive impact of the deal.

Polynt is a leading European producer of resins which are principally used in the transportation and construction industries.

By Foo Yun Chee

Source: Reuters

Related News

October 24, 2020

Johnson Matthey completes new plant in China for fuel-cell components

Chemical Value Chain

Johnson Matthey is expanding its fuel cell operations into China with a £7.5-million facility to manufacture critical components for customers in the region.

October 24, 2020

Borealis commissions naphtha-storage cavern in Finland

Chemical Value Chain

Having invested around EUR 25 million in the construction of this 80,000-m3 facility, Borealis can now source and store naphtha for its Porvoo operations from the global market in a more flexible, cost-efficient, and secure way.

October 24, 2020

Mitsubishi Chemical names non-Japanese national as next CEO

Chemical Value Chain

Mitsubishi Chemical Holdings, Japan’s largest chemical maker, has named Jean-Marc Gilson, CEO of plant-ingredients maker Roquette Frères (Lestrem, France), as its next CEO, effective 1 April 2021.

Send this to a friend