Perstorp, the world leader in Neopentyl Polyhydric alcohols (Polyols), today announces the agreement for the acquisition of Polialcoli Srl from Polioli SpA. The agreement includes the Neo, TMP and TMPDE as well as the associated Formate businesses located at the Vercelli site (Italy). Included in the transaction are also technology, know-how and equipment. The 74 employees who are currently employed in the acquired company, are welcomed to the Perstorp group.
“Polioli SpA has been under receivership for the last four years. We have seen a potential in these products but it has proven increasingly difficult to run these product lines in smaller scale plants. In order to be successful we have come to the conclusion that it makes more sense to operate these assets through a larger company with global reach. It was therefore natural for us to approach Perstorp”, says Polioli CEO Federico Ferlin.
“The transaction is fully in line with Perstorp’s strategy to further strengthen our position in the Polyols market. TMP and Neo are both key products in our Polyol portfolio, which is a core business within Perstorp. These product lines have been instrumental in the development of Perstorp as an international company and we are happy to expand our position further to be able to serve a strong demand from the market”, Perstorp President and CEO Jan Secher says.
The transaction is scheduled to close on 31 August or at such later date as the required procedures have been completed.
Perstorp is now producing TMP, in addition to Italy, in China, the US and Sweden, and Neo in China and Sweden.
For more information, please contact:
John Ekström, VP Investor Relations, +46 70 630 3900
Cecilia Svensson, Vice President Communications, +46 40 635 88 30
Dr. Marzio Salvi, partner of Studio Conca Jannone Grossi Salvi e Associati, acted as exclusive financial advisor to the sellers in relation to the transaction.
About the products:
TMP is used to enhance the properties in applications such as Saturated polyesters and Synthetic lubricants. Neo is used in Polyesters for powder coating, coil coating and other stoving enamels, Unsaturated polyesters for gel-coats and reinforced plastics, Polyurethanes for coating, foams and elastomers and Lubricant esters. TMPDE adds functionality to Unsaturated polyesters, Polyurethane resins, Epoxy resins and Resins for ion-exchangers. Formates are used in Tanning, De-icing and Oil drilling and as a chemical building block for bleaching agents.