Dystar LP also announced the sale of its polymer additives and nitriles businesses to Jiangsu Sinorgchem Technology, a subsidiary of Sinochem Group, a state-owned Chinese company with core businesses in the energy, agriculture, chemicals, real estate and financial service.
The five units acquired include the specialties, polymer additives, and nitriles business groups of Emerald Performance Materials.
Upon completion of both the agreements, DyStar LP will retain the specialties businesses, which adds three new manufacturing sites to DyStar's US business platform. The acquisition will help the company expand, reduce costs, and synergise the technical know-how across all businesses.
Ruan Weixiang, chairman, DyStar group, said, “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.”
DyStar Group is a solution provider, offering customers across the globe a complete range of colorants, auxiliaries and services. The company has offices, competence centers, agencies and production plants in over 50 countries to ensure the availability of expertise in all important markets. (HO)
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