Business
Acquisition of BASF Pischelsdorf
Acquisition of BASF Pischelsdorf.
About this update from Synthomer Plc
[{"type":"text","content":"\n \nRNS Number : 0270S Synthomer PLC 28 September 2017 \n\n28 September 2017\n \nSynthomer plc\n \nAcquisition of BASF Pischelsdorf, Austria SBR Business \n \nSynthomer plc (LSE: SYNT) ('Synthomer' or the 'group'), a leading specialty chemicals company, today announces the acquisition of the BASF Austrian SBR business and assets (the 'Business'). The enterprise value of €30 million will be fully funded from existing resources. \n \nThe Business produces Styrene Butadiene Rubber (\"SBR\") used in the paper industry, notably in packaging end-markets. The Business operates from one site in Pischelsdorf, Austria. The acquisition will enhance Synthomer's SBR business and production network for paper/packaging applications as well as increase the group's access to attractive new opportunities across Europe. \n \nThe acquisition is expected to complete early in 2018 following receipt of regulatory approvals and satisfaction of other closing conditions. \n \nCalum MacLean, Chief Executive Officer of Synthomer, said:\n\"This is another bolt-on acquisition that represents an excellent fit for Synthomer. It underscores our long term commitment to our customers in the paper industry, whilst providing us with an additional site to strengthen our network and stronger access to growing packaging end-markets in Europe. We look forward to welcoming our new colleagues and integrating the business into our European network in the first half of next year.\"\n \n \n-ends-\n \nEnquiries:\nStephen Bennett, Chief Financial Officer Tel: 01279 436211\nCharles Armitstead, Teneo Blue Rubicon Tel: 020 3603 5220\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END ACQDDLFLDKFXBBL\n ","length":3159,"tagName":"div"}]