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November 20, 2007
Deal closed for Perstorp acquisition of acid business in Singapore
Leading niche specialty chemicals company Perstorp announces today the closing of the deal to acquire the manufacturing plant and business of Purified Isophtalic Acid (PIA) in Singapore from the Lonza Group.
Perstorp has now, together with its parent company, closed the agreement with the Lonza Group to acquire 100% of the shares in Lonza Singapore Pte Ltd. Based in Singapore, Lonza Singapore Pte Ltd. is a leading manufacturer and marketer of Purified Isophtalic Acid (PIA), used as a key ingredient in manufacturing performance coatings, unsaturated polyester resins and PET-bottle grade resins.
All necessary conditions for fulfilment of the deal have been finalized and Lonza Singapore Pte Ltd. and all related assets are now owned by the Perstorp Group.
Sales for the Perstorp Group in 2006 totalled 7.3 SEK billion. With organic growth during 2007 and this acquisition yearly sales will amount to more than SEK 9 billion.
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