Emerald Performance Materials to Sell Specialty Chemical Businesses
Emerald Performance Materials, LLC, Cuyahoga Falls, OH/USA, has reached an agreement to sell its Emerald Specialties and Polymer Additives and Nitriles business groups to DyStar LP, Charlotte, NC/USA, the US subsidiary of DyStar Global Holdings (Singapore) Pte. Ltd. The sale involves five of the company’s nine plants, specifically the dedicated plants in Charlotte, NC, Cincinnati, OH, Cheyenne, WY, Henry, IL, and a portion of a shared site in Akron, OH. Terms of the transaction were not disclosed. The sale is expected to close in the third quarter of 2016, subject to standard regulatory approvals.
In a separate transaction, DyStar LP will sell the Polymer Additives and Nitriles businesses to Jiangsu Sinorgchem Technology Co., Ltd., a subsidiary of Sinochem Group, a state-owned Chinese company with core businesses in the energy, agriculture, chemicals, real estate and financial service. Upon completion of the dual transactions, DyStar LP will retain the specialties businesses, which adds three new manufacturing sites to DyStar’s US business platform.
“We are enthusiastic about the growth that the combination will foster. This high quality acquisition will significantly strengthen DyStar’s position in the chemical industry and we are uniquely positioned to take advantage of the new revenue growth and synergy opportunities,” said Ruan Weixiang, the Chairman of DyStar group. “We are confident that the business will be a good opportunity for DyStar to grow in future.” (ed.)
Emerald Performance Materials
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