Business
Disposal of Synthomer Leuna Gmbh facility
Disposal of Synthomer Leuna Gmbh facility.
About this update from Synthomer Plc
[{"type":"text","content":"\n \nRNS Number : 6344A Synthomer PLC 02 January 2018 \n\nThe Company considers this announcement to contain inside information\n \n \n2 January 2017\n \nSynthomer plc\nDisposal of Synthomer Leuna Gmbh facility\n \nSynthomer plc (LSE:SYNT) ('Synthomer' or the 'Group'), a leading speciality chemicals company, today announces that it has sold its Leuna site in Germany to Alberdingk Boley Gmbh for an undisclosed price. \n \nThe site will continue to manufacture products for Synthomer for an initial period prior to transferring the manufacture of product to the remaining Synthomer network.\n \nThe Leuna site was acquired as part of the Hexion PAC acquisition in 2016. The ongoing operational savings related to the sale of the site form the final part of the Group's $12m synergy target relating to that acquisition. Accordingly the sale, which completed on 1 January 2018, will conclude the integration of Hexion PAC into the Synthomer Group. \n \n \n-Ends-\nEnquiries:\nCalum MacLean, Chief Executive Officer Tel: 01279 436211\nStephen Bennett, Chief Financial Officer Tel: 01279 436211\nCharles Armitstead, Teneo Blue Rubicon Tel: 020 3603 5220\n \n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END DISLLFSVLTILIIT\n ","length":3014,"tagName":"div"}]