The merger of Röhm’s Acrylic Products business unit and SABIC’s Functional Forms business has resulted in the formation of Polyvantis. This new company will offer extruded products in the forms film, sheet, pipe and rod for markets that include building and construction, transportation and aviation, electrical and electronics, automotive and home and garden.
This deal between the two companies is expected to close by around the second quarter of 2024, subject to regulatory approvals. When it does, Polvantis’ will have a workforce of about 1,500 employees and 16 production sites across the Americas, Europe, Asia, and Africa.
“For the first time, customers will be able to obtain superior products, including Plexiglas/Acrylite, and Lexan films and sheets from a single source,” says Ronald Ayles, managing partner at the financial sponsor Advent International. “This merger will allow the two businesses to achieve more together than they could ever do alone, and we are committed to accelerate growth further. Polyvantis will combine the innovative strength and technological expertise of both business units and create holistic solutions for customers worldwide.”
Long-term license agreements have been concluded with both Röhm and SABIC for the respective brands in their segment. The Plexiglas/Acrylite molding compounds business will remain at Röhm as the polycarbonate Lexan resin business will remain with SABIC.
“The name Polyvantis reflects the aspiration to become a leading multi-material supplier of film and sheet products with a strong market presence,” says Michael Pack, CEO of Röhm. The name combines the Greek prefix “Poly”, meaning “many”, with the Italian “avanti” or the French “avant,” both of which mean “forward”. This reflects the diversity of products and the pursuit of progress in the field of polymers and related materials.
“Polyvantis will remain closely associated with Röhm and SABIC thanks to the shared brands and long-term agreements. We look forward to the future partnership and are convinced that new market opportunities will open up for Polyvantis,” says Pack.
Source: ptonline.com
PepsiCo Europe and crop nutrition company Yara have announced a long-term partnership aimed at providing European farmers with low-carbon crop nutrition solutions to help decarbonise the food value chain. Under the agreement, Yara will supply PepsiCo with up to 165,000 tons of fertiliser per year by 2030, covering around 25% of the food and beverage giant’s crop fertiliser needs across Europe.
BASF has signed an agreement to sell its flocculants business for mining applications to Solenis, a specialty chemicals manufacturer. The divestment of the flocculants business to Solenis is part of BASF’s ongoing portfolio optimisation with the aim of focusing on strategic core areas.
ADAMA Ltd. a leading crop protection company, announced that its board of directors has appointed Gaël Hili as its President and Chief Executive Officer, effective October 1, 2024. Hili will join the Syngenta Group Leadership Team and will be based in Tel Aviv.
