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
3M and Dow have announced they are cutting thousands of roles from their global workforces in response to economic pressures. Dow has said it will cut 2,000 jobs across its global workforce (around 5%) in a bid to save US$1bn in 2023. The company says it will also cut costs by shutting down “select assets”, though it did not note where it would halt operations.
Sweden’s state mining firm has discovered what could be Europe’s largest rare earths deposit, and says it could help the bloc reduce its reliance on imports of minerals needed to manufacture clean technologies and meet climate targets.
Henkel and Avantium have been partners since 2019, when Henkel joined the PEFerence consortium. This consortium of partners, coordinated by Avantium, aims to establish an innovative supply chain for FDCA and PEF (polyethylene furanoate).
