Sika is buying Romanian mortar and thermal insulations company Adeplast, the Swiss construction chemicals maker said on Monday.
Adeplast generates sales of 120 million Swiss francs ($120.34 million)with a workforce of 460 employees, said Sika, which did not disclose how much it was paying for the business. ($1 = 0.9972 Swiss francs)
By John Revill
The separation is expected to be completed by early Q3, following the receipt of all relevant approvals, including final Board approval. Nouryon intends to reduce its own debt with proceeds received from a planned external financing by Nobian.
Trinseo became a producer of the resin when it acquired Arkema’s PMMA business. It announced that it closed on the €1.14bn deal earlier this month.
As part of the EU’s Single-Use Plastic Directive (SUPD), it will become mandatory for caps and lids to remain attached to all beverage containers up to three liters in capacity from 2024.