Lion Copolymer Holdings has completed its acquisition of Ashland Elastomer, based at Port Neches, Texas, USA, from chemical producer Ashland. The company will be renamed Lion Elastomers.

With the acquisition, Lion said it will become one of the leading merchant providers of styrene-butadiene rubber (SBR) in the United States.

"We are excited to be back in the SBR business," said Lion president Jesse Zeringue, adding that the hot emulsion SBR (ESBR) product line dovetails nicely with his company's specialty low molecular weight EPDM products sold in similar market segments.

Vijay Goradia, chairman of Lion owner Goradia Capital, said: "We are now focused on growing Lion, while at the same time acquiring companies that no longer fit the plans of larger chemical companies. This acquisition fits our strategy for both Lion Copolymer Holdings and Goradia Capital."