US-based Omnova Solutions has acquired Resiquimica, a Portuguese producer of resins and binders for the coatings and building and construction industries. Omnnova paid €28.5 million for Resiquimica, boosting its presence in Portugal, Spain and North Africa.

"This is another important milestone in Omnova's path to becoming a premier global specialty solutions company. The acquisition of Resiquimica expands our technology and product offerings in the coatings and construction industries, strengthens our position in the EMEA [Europe, Middle East & Africa] region and enhances production flexibility and capabilities for our specialty business,” said Anne Noonan, Omnova’s president and CEO.

The acquisition, which is expected to be accretive to earnings and operating margins in 2019, is anticipated to increase Omnova’s annual revenues by around €56 million.