Disposal of Synthomer Leuna Gmbh facility

RNS Number : 6344A

Synthomer PLC

02 January 2018

 

The Company considers this announcement to contain inside information

2 January 2017

Synthomer plc

Disposal of Synthomer Leuna Gmbh facility

Synthomer plc (LSE:SYNT) ('Synthomer' or the 'Group'), a leading speciality chemicals company, today announces that it has sold its Leuna site in Germany to Alberdingk Boley Gmbh for an undisclosed price.

The site will continue to manufacture products for Synthomer for an initial period prior to transferring the manufacture of product to the remaining Synthomer network.

The Leuna site was acquired as part of the Hexion PAC acquisition in 2016. The ongoing operational savings related to the sale of the site form the final part of the Group's $12m synergy target relating to that acquisition. Accordingly the sale, which completed on 1 January 2018, will conclude the integration of Hexion PAC into the Synthomer Group.    

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Enquiries:

Calum MacLean, Chief Executive Officer                              Tel: [phone]

Stephen Bennett, Chief Financial Officer                               Tel: [phone]

Charles Armitstead, Teneo Blue Rubicon                              Tel: [phone]

 

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