Sector News

Synthomer completes €78m acquisition of Perstorp Belgium

March 6, 2017
Chemical Value Chain

Listed speciality chemicals company Synthomer has hailed another consecutive year of record results with turnover exceeding £1bn. The Essex-based business has also struck a deal for a €78m (£67m) acquisition.

The group has completed the purchase of Perstorp Belgium from The Perstorp Group, a speciality chemicals innovator and supplier based in Sweden.

Perstorp Belgium is a niche performance additives business serving the decorative and industrial coatings industries, and serves a “highly attractive, blue-chip customer base”. The company operates from a single site in Ghent, Belgium, where there is potential for growth capacity for future demand.

Synthomer said it would focus on expanding Perstorp Belgium’s market position by developing closer relationships with customers through leveraging its existing sales and technical services infrastructure, and driving operational performance.

For the year to 31 December 2016, Synthomer generated revenue of about £1.05bn, up from £870.1m a year earlier.

Pre-tax profits soared to £122.2m from £95.3m.

“2016 has been another strong year for Synthomer reflecting our strategy to grow the core business and invest in our platform for future growth,” said chairman Neil Johnson.

“Both the Europe & North America and Asia & Rest of World segments delivered organic growth and our first bolt-on acquisition, PAC, made a strong contribution in the second half of the year. We also benefitted from favourable currency translation as a result of the weakening in Sterling.”

Looking ahead, Johnson said he expects to continue to see resilient trading in Europe, although the raw material and macroeconomic environments remain volatile.

Source: Insider Media

comments closed

Related News

February 4, 2023

Eastman acquires performance films company Ai-Red Technology

Chemical Value Chain

Eastman Chemical Co. (Kingsport, Tenn.) announced it has acquired Ai-Red Technology (Dalian) Co., Ltd., a manufacturer and supplier of paint protection and window film for auto and architectural markets in the Asia Pacific region.

February 4, 2023

BASF and StePac partner on chemical recycling MAP packs to fight food waste

Chemical Value Chain

BASF and Israeli packager StePac have joined forces to create the “next generation” of fresh produce packaging. BASF will provide StePac with greater flexibility to advance contact-sensitive packaging formats to a higher sustainability standard by supplying StePac with Ultramid Ccycled – a chemically recycled polyamide 6.

February 4, 2023

TotalEnergies and Intraplás partner on food-grade renewable biopolymer production

Chemical Value Chain

TotalEnergies’ biorefinery in La Mède, France, allows direct access to renewable feedstock for its drop-in RE:newable polymer range derived from bio-based products. The company claims these polymers retain virgin-like properties.

How can we help you?

We're easy to reach