Trinseo says it has completed the cash acquisition of the Germany-based vinyl pyridine latex business from Synthomer (Harlow, UK). The undisclosed value of the transaction “is not material to the company,” it says.
Synthomer sold the latex tire cord binders business as part of the process to gain approval from the European Commission for its own acquisition of Omnova Solutions, which was completed in early April. The vinyl pyridine latex business will complement Trinseo’s expertize in coatings and tire ingredients, Trinseo says.
The transaction includes product recipes, customer lists, and associated intellectual property related to the business. No physical assets or employees will transfer to Trinseo, which says it has established agreements with Synthomer for contract manufacturing of the products to continue at Synthomer’s production facility at Marl, Germany.
Synthomer said in its original announcement of the planned sale to Trinseo that the divestment represented less than 0.5% of its 2019 sales.
By: Mark Thomas
Source: Chemical Week
The new Hydrogen Technologies business will be headed up by Ralph Calmes, who has been appointed Managing Director Hydrogen Technologies. Ralph, who previously led JM’s Platinum Group Metal Services business, will take up this role effective 1 October with both Eugene McKenna (Green Hydrogen) and Jo Godden (Fuel Cells) reporting directly to him. Ralph will report to Group Chief Executive Robert Macleod.
The Supervisory Board of Lenzing AG, the world’s leading producer of wood-based cellulosic fibers, has come to a mutual agreement with its longstanding Chief Executive Officer Stefan Doboczky to end his contract.
PlasticsEurope says that Europe’s plastics producers support the European Commission’s previously announced proposal for a mandatory EU recycled content target for plastics packaging, as defined in the Commission’s Packaging and Packaging Waste Directive (PPWD). This target should be 30% for plastics packaging by 2030, PlasticsEurope says.