MOSCOW (MRC) -- AkzoNobel Specialty Chemicals has finalized an agreement to acquire Brazilian firm Polinox, South America’s leading producer of ketone peroxides, essential in the manufacture of polymers, as per the company's press release.
The acquisition will expand the company’s footprint in South America, and establish it as one of the region’s leading producers of curing systems for polyester thermoset resins. The sale is expected to close in the fourth quarter of 2018.
"Our business is on a growth trajectory," said Johan Landfors, Executive Committee Member responsible for Polymer Chemistry. "Over the past three years, we have invested more than EUR180 million to better serve our customers, upgrade technologies, increase capacity, and reposition our global manufacturing footprint. The acquisition of Polinox presents a great opportunity to further strengthen our presence in the South American market."
The company will acquire Polinox’s brands and trademarks, which include Brasnox, Perbenzox and TecnoxSuper, as well as its customer list and production knowhow. AkzoNobel Specialty Chemicals will invest to add capacity in its own site at Itupeva, Brazil and transfer manufacturing there after the expansion is completed.
"It is very gratifying to look back over the years and think about everything that we were able to accomplish here at Polinox," said Managing Director Roberto Pontifex. "AkzoNobel Specialty Chemicals is highly respected in South America, and I am excited to know that Polinox will play a part in its growth ambitions."
Werner Fuhrmann, CEO of AkzoNobel Specialty Chemicals, added: "This is an exciting opportunity to further expand our position in an important growth market. Making smart, strategic acquisitions is another key element of our strategy to invest to grow with our customers."
As MRC informed previously, in June 2018, AkzoNobel entered into an agreement to acquire 100% of the shares of Fabryo Corporation S.R.L. (Fabryo), becoming the leader in the Romanian decorative paints market. The transaction includes two production facilities and six distribution centers for decorative paints, adhesives and mortars, including one of the largest decorative paints factories in the region, with capacity for further expansion.
Akzo Nobel N.V., trading as AkzoNobel, is a Dutch multinational, active in the fields of decorative paints, performance coatings and specialty chemicals. Headquartered in Amsterdam, the company has activities in more than 80 countries, and employs approximately 55,000 people.
MRC