MOSCOW (MRC) -- Brenntag says it has acquired the operating assets of Suffolk Solutions’ (Suffolk, Virginia) caustic soda distribution business. Financial terms of the deal have not been disclosed, said Chemweek.
"The business and the related terminals of Suffolk Solutions fit seamlessly into our ambitions to further link Brenntag’s caustic soda network in the eastern United States. There is great potential to strengthen our supply chain and expand our customer base in this geography,” says Steven Terwindt, Brenntag board member/North America.
Suffolk Solutions has access to a bulk terminal as well as to a rail transloading facility in Virginia. The acquired business generated sales of approximately $15.6 million in the 12 months ended 30 April 2020.
“Suffolk Solutions will strengthen Brenntag’s footprint in the Virginia market and thus will enable us to improve our logistical infrastructure throughout the region,” Anthony Gerace, managing director/mergers and acquisitions at Brenntag says. "It will provide us with greater supply flexibility, manoeuvrability, and additional storage capacity on the east coast of the United States."
As MRC informed earlier, Russia's output of chemical products rose in June 2020 by 2.6% year on year. However, production of basic chemicals increased year on year by 4.9% in the first six months of 2020. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the output in January-June. Production of benzene was 106,000 tonnes in June 2020, compared to 110,000 tonnes a month earlier. Overall output of this product reached 721,000 tonnes over the stated period, up by 3.9% year on year.