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
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.