Synthomer Completes Eastman Resins Acquisition
UK chemicals company Synthomer completed its $1 billion acquisition of Eastman Chemical’s adhesive resins business on Apr. 1. The business will form a new division called Adhesive Technologies. Synthomer said the business has a leading position in the global adhesives market, which is exposed to attractive end-markets with resilient GDP+ growth fundamentals.
“Our Adhesive Technologies division adds a very exciting new growth dimension to Synthomer. Its portfolio takes us into more specialized, more global and higher growth segments and as part of Synthomer, we are confident that we will be able to expand this part of our business significantly,” said CEO Michael Willome.
The purchase expanded Synthomer’s geographic footprint by adding six plants – three in the US and one each in the Netherlands, Mexico and China.
Author: Elaine Burridge, Freelance Journalist
(c) twitter.com/Synthomer_Group
