DyStar Buys Specialty Chemical Businesses From Emerald Performance Materials
11 May 2016
DyStar LP, the US subsidiary of DyStar Global Holdings (Singapore) Pte Ltd, on May 7, 2016 entered into an agreement to acquire five specialty chemical units (the Specialties, Polymer Additives, and Nitriles business groups) of Emerald Performance Materials LLC, a US company and leading manufacturer and marketer of specialty chemicals for consumer and industrial markets that is majority owned by affiliates of American Securities LLC.
In a separate transaction, DyStar LP will sell the polymer additives and nitriles businesses to Jiangsu Sinorgchem Technology Co Ltd, a subsidiary of Sinochem Group, a state-owned Chinese company with core businesses in the energy, agriculture, chemicals, real estate and financial service.
Upon completion of the dual transactions, DyStar LP will retain the specialties businesses, which adds three new manufacturing sites to DyStar’s US business platform.
“We are enthusiastic about the growth that the combination will foster. This high quality acquisition will significantly strengthen DyStar’s position in the chemical industry and we are uniquely positioned to take advantage of the new revenue growth and synergy opportunities,” said Ruan Weixiang, chairman of DyStar group.
The acquisition adds a broad product portfolio that services many multi-national consumer goods brands to DyStar’s global product line which services multi-national retail brands.
DyStar Group is a solution provider, offering customers across the globe a complete range of colorants, auxiliaries and services. With a heritage of more than a century of product development and innovation for the textile and leather industry, DyStar has developed into new markets and now in addition serves the paper, plastic and many other specialty chemical industries.
Source : business-standard.com