Last checked at 1 Feb 2018 07:00
1 February 2018
Synthomer plc
Completion of the acquisition of BASF Pischelsdorf, Austria SBR Business
Further to the announcement on 27 September 2017, Synthomer plc (LSE: SYNT) ('Synthomer' or the 'Group') today announces that it has successfully completed the acquisition of the BASF Austrian SBR business and assets (the 'Business'). The enterprise value of €30 million was fully funded from existing resources.
The Business produces Styrene Butadiene Rubber ("SBR") used in the paper industry, notably in packaging end-markets. The Business operates from one site in Pischelsdorf, Austria. The Pischelsdorf, Austria SBR Business is fully integrated as of today within Synthomer's SBR business and production network for paper/packaging applications. It underscores our long term commitment to our customers in the paper industry, whilst providing us with an additional site to strengthen our network and stronger access to growing packaging end-markets in Europe.
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Enquiries:
Stephen Bennett, Chief Financial Officer Tel: 01279 436211
Charles Armitstead, Teneo Blue Rubicon Tel: 020 3603 5220