Rohm and Haas Company said it has completed the acquisition of FINNDISP, the polymer dispersions division of OY Forcit AB for €60 million (approximately US$85 million).
FINNDISP, based in Hanko, Finland, makes water-based emulsions used in the manufacture of paints and coatings, lacquers and adhesives.
Their portfolio includes low-temperature, high performance products specifically designed for use in Northern Europe and the Commonwealth of Independent States.
The acquisition also includes two plants – one in Hanko, and another under construction in Ramenskoye, Russia, near Moscow.
These will become a part of a network of more than 30 plants worldwide that provide consistently high quality products tailored to meet local and regional needs.
Rohm and Haas says it intends to expand the capabilities of the Ramenskoye plant so that it can make a broader range of products, including acrylic emulsions and polyacrylic acid dispersions used in detergent and industrial applications. The expanded facility plant should be fully operational during the second half of 2009.
Luis Fernandez, Vice President and Group Business Director for Rohm and Haas's €1.4 billion (US$2 billion) Paint and Coatings Materials business, commented, “We are very excited about our future together, and fully committed to serving both current and future customer needs in this important part of the world.”
He said he is most excited about the talented workforce that is joining Rohm and Haas. “FINNDISP employees have developed significant expertise in developing the right technology for their customers in a fast-growing region.
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