Synthomer completes acquisition of Omnova
2020-04-04    []

 PUdaily, Shanghai--LONDON—Synthomer P.L.C completed its acquisition of Omnova Solutions Inc., giving Synthomer a stronger foothold in the U.S.

    Beachwood, Ohio-based Omnova brings eight U.S. manufacturing sites to the combined company, and 13 such locations in total around the world. This includes a manufacturing site in China, a first for Synthomer.

    Omnova makes polymers, dispersions and elastomers, and the acquisition makes Synthomer a global specialty chemicals company. With the acquisition, Synthomer said in a statement that it becomes a global player in water-based polymer solutions, and also increases its presence in Europe and Asia.

    Synthomer, when the deal was first disclosed last summer, said it was paying $10.15 per share for Omnova for a total of $473 million. The enterprise value of the deal, which factors in considerations including assumption of debt, put the value of deal at $824 million, based on exchange rates at the time.

    The companies, combined, post annual sales of about $2.8 billion.

    Synthomer, in its most recent news release, that it will realize annual savings of $29.6 million by the end of the third year, following completion of the deal. It will integrate Omnova into Synthomer accounts immediately.

    "Synthomer now has global reach, a broader product portfolio and increased R&D capabilities with an exciting platform from which to attract talent and invest in future growth, Synthomer CEO Calum MacLean said in a statement.

    The closure of the Omnova deal comes on the heels of Synthomer closing on a deal to sell its vinyl pyridine latex operations to Trinseo S.A. Doing so allowed Synthomer to meet European Commission conditions for the Omnova acquisition.

Reprinted statement: This article is reprinted from other website, which only represents the opinions of the author and it does not represent the stand of this website. Please notify if violating the original author's copyright and we will remove it immediately.

About Us  |  Feedback  |  Clients  |  Contact
Tel: 0086-21-61250980 E-mail: Fax: 0086-21-61159277
© 2007 Suntower Consulting Limited.  All Rights Reserved  沪ICP备07503201号 gs沪公网安备31011202002186号