Completion of adhesives acquisition

RNS Number : 9979G

Synthomer PLC

01 April 2022

 

April 1 2022

Synthomer plc

Completion of adhesives acquisition

Synthomer plc ("Synthomer" or the "Company") today announces that it has now completed the $1bn acquisition of Eastman's Adhesive Resins business.

The acquired business will form a new division within Synthomer called Adhesive Technologies. It has a leading position in the global adhesives market which is exposed to attractive end-markets with resilient GDP+ growth fundamentals. Furthermore, Synthomer now has an expanded geographic footprint, increased R&D capability and a portfolio that offers even greater scale and diversity.

Commenting, Michael Willome, Chief Executive Officer said:

"Our Adhesive Technologies division adds a very exciting new growth dimension to Synthomer. Its portfolio takes us into more specialised, more global and higher growth segments and as part of Synthomer, we are confident that we will be able to expand this part of our business significantly.

I would like to extend a warm welcome to our new Adhesive Technologies employees around the world. I look forward to working together and realising the value potential that lies ahead."

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Further information:

Michael Willome, Chief Executive Officer	Tel: [phone]
Stephen Bennett, Chief Financial Officer
Tim Hughes, President, Corporate Development
Charles Armitstead, Teneo	Tel: [phone]

 

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