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
Neste Corporation’s Board of Directors has appointed Heikki Malinen, M.Sc. (Econ.), MBA (Harvard) as the President and CEO of Neste as of 2 November 2024, at the latest. Malinen joins Neste from Outokumpu Corporation where he has held the position of President and CEO since 2020.
Petrochemicals company Sasol has announced that CFO and executive director Hanré Rossouw will step down from his position, effective October 31. Sasol has started the process to appoint a successor. Rossouw will still oversee the publication of Sasol’s reports for the financial year ending June 30, to allow for a structured handover period.
Chemours announced its CFO Jonathan Lock has resigned from all positions within the company, according to an SEC 8-K filing on April 23. The resignation comes in the aftermath of the company announcing that Lock, former CEO Mark Newman, and principal accounting officer Camela Wisel, had been placed on administrative leave.
