Completion of the acquisition of BASF Pischelsdorf

RNS Number : 5545D

Synthomer PLC

01 February 2018

 

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: [phone]

Charles Armitstead, Teneo Blue Rubicon                              Tel: [phone]

 

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