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Leading niche specialty chemicals company Perstorp has
announced that it is acquiring a manufacturing plant for Purified Isophtalic
Acid (PIA) in Singapore from the Lonza Group. Through this strategic acquisition,
the Perstorp Group is widening its product portfolio and strengthening
its position in Asia. The transaction is expected to be finalized before
the end of the year.
Perstorp has, together with its parent company, signed an agreement with
the Lonza Group to acquire 100% of the shares in Lonza Singapore Pte Ltd.
Based in Singapore, Lonza Singapore Pte Ltd. is a leading manufacturer
and marketer of Purified Isophtalic Acid (PIA), used as a key ingredient
in manufacturing performance coatings, unsaturated polyester resins and
PET-bottle grade resins.
"This acquisition will allow us to widen our product portfolio with
a product that suits us and many of our customers well. The production
of PIA will be yet another cornerstone on which Perstorp will build its
future. This is also a successful company with expert management and staff
who will fit in well with our strategy for growth, not least in Asia,"
says Bo Dankis, President and CEO of Perstorp.
When the transaction has been finalized, Perstorp will assume control
of the business and all related assets. The transition is contingent upon
customary regulatory approvals and expected to be finalized before the
end of the year.
Source: Perstorp
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