UK firm Synthomer says it has completed the US$1 billion acquisition of US materials firm Eastman’s Adhesive Resins business. The acquired business will form a new division within Synthomer called Adhesive Technologies.
It will have a leading position in the global adhesives market, which is exposed to attractive end-markets with resilient GDP+ growth fundamentals, adds Synthomer furthering that now it has an expanded geographic footprint, increased R&D capability and a portfolio that offers even greater scale and diversity.
Commenting, Michael Willome, CEO 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.”