22 November 2016
Perstorp Holding AB (publ), the parent company for leading global vertically integrated specialty chemicals company Perstorp, has officially announced the closing of an offering to the financial market. This means that the company now has secured its long term financial platform until 2021, by issuing Senior Secured Notes and Second Lien Notes.
“This is very exciting news”, Jan Secher CEO of Perstorp Holding AB states. “After an intense period of working closely to the financial market and our advisors, we have now secured a long term financing that will enable us to have full focus on our business going forward”.
Perstorp is a global leader in specialty chemical business and has a unique knowledge based on 135 years of creative chemistry. The company takes a market-driven approach to respond to customer needs, which has led to a top-tier position in global niche markets.
“During the presentations to the financial markets, our company and management team have received very positive feedback as a very professional organization. We have also received confirmation of our business strategy to become leaders in niches of the chemical market where there is relatively higher growth and where our competence and experience is of critical value. Such niches are e g high value coatings, special plastics, synthetic lubricants etc by means of world leading offerings like Capa™, Penta and Oxo”, Jan Secher proceeds.
In 2015, Perstorp crowned a period of large investment by inaugurating a new Oxo plant in Stenungsund, the biggest investment ever in the history of the company amounting to approx. 120 mio Euro. Time has now come to consolidate and deliver from these investments by maximum utilization of current chemical platforms.
“We have made great progress in improving our results in the last two years. Over the last couple of quarters we have seen a slowdown in the rate of improvement, partly as a result of internal factors, such as scheduled maintenance work, but also due to difficult market conditions in some areas. By having secured a long term financial platform, we can now focus entirely on developing our business and further strengthening of our market position. I am pleased to see that there are signs of improvements in some of these markets and we have a 3rd quarter behind us that is the second best in several years. We have a good momentum in the organization”, Jan Secher concludes.
For more information, please contact:
John Ekström, VP Investor Relations, phone: +46 70 630 3900