“This acquisition will give AOC a major leverage for strengthening our market position in Central and Eastern Europe, as well as in Germany. It enables us to ensure continued competitiveness in the region,” said AOC CEO Joe Salley.

AOC added that the new plant will also enable the manufacture of new products, such as those based on recycled PET for customers around Europe.

Spolchemie’s UPR plant has been making resins for AOC on a contract basis for many years and is said to have “unique capabilities” for producing green resins based on recycled PET.

The transfer of operations is expected to take effect as soon as possible during the current quarter.

Romana Benešová, CEO of Kaprain Investment, said the deal will enable Spolchemie to focus on its core business of chlorinated hydrocarbons and epoxy resins.

On Oct. 2, AOC also closed its purchase of Ashland’s maleic anhydride business and manufacturing facility in Neal, West Virginia, USA, for $100 million.

AOC plans to use some of the MA for its own internal consumption (for producing UPRs) and will also sell some volumes on the merchant market.

Author: Elaine Burridge, Freelance Journalist