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Acquisition

22 Oct 2014 15:00

RNS Number : 9867U
Synthomer PLC
22 October 2014
 



22nd October 2014

 

Synthomer plc

Synthomer acquires full ownership of Eka Synthomer Oy

Synthomer plc today announces that it has acquired the remaining 50% of Eka Synthomer owned by Akzo Nobel, its joint venture partner since 2011, for a total consideration of Euro 5 million.

Eka Synthomer is based in Finland and produces and sells high quality styrene-butadiene latex products for the paper and board industry mainly in Nordic countries. It is one of the leading paper latex producers in Europe.

Commenting on the transaction Adrian Whitfield, Chief Executive, said:

"This transaction is consistent with our strategy and represents another logical step in the consolidation of the European SBR latex market."

-ENDS-

Enquiries:

Adrian Whitfield, Chief Executive Officer

Charles Armitstead / Rebecca Hall

David Blackwood, Chief Financial Officer

Pendomer Communications

Tel: 01279 442791

Tel: 020 3603 5220

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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