Abstract

The British specialty polymer maker Synthomer has agreed to acquire US-based Omnova Solutions for about $824 million. Synthomer says the purchase will create a global specialty chemical company with a broad range of polymer chemistries. Synthomer, formerly called Yule Catto, had sales last year of about $2 billion, mainly of aqueous dispersions, specialty additives, and elastomers such as nitrile butadiene rubber. Omnova’s sales were $770 million and included surface treatments, styrene-butadiene paper coatings, and coated fabrics such as wallpaper. Together, according to a Synthomer presentation for analysts, the two firms will create a major player in water-based polymers with strong raw material integration. Synthomer anticipates about $30 million in annual cost savings from delisting Omnova from the stock market and various office and business consolidations. The transaction is a victory for Anne P. Noonan, who joined Omnova in 2014 and became its CEO in late 2016. The firm had been

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