London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950
info@mrcplast.com

Our Clients

Order Informer

 
Home > News >
 

EU clears Synthomers takeover of Omnova, subject to conditions

January 17/2020

MOSCOW (MRC) -- EU antitrust regulators said they had cleared polymer maker Synthomer Plcís planned acquisition of U.S. rival Omnova Solutions Inc, subject to conditions, said the Reuters.

The approval is conditional on Synthomerís offer to divest its global VP Latex business to address concerns of the European Commission that competition of vinyl pyridine latex would be reduced. The product is used by tyre manufacturers to make safer and more solid tyres.

"Synthomer and Omnova are the only two manufacturers of this type of latex in Europe but we can approve their merger because the companies offered to divest all of Synthomerís VP Latex production," -  Margrethe Vestager, commissioner in charge of competition, said in a statement.

Synthomer announced its plans to buy Omnova for an enterprise value of USD824 million in July to strengthen its global position.

As per MRC's ScanPlast, Russia's overall production of polyvinyl chloride (PVC) reached 975,000 tonnes in 2019, up by 2% year on year. At the same time, not all Russian producers raised their output. December total production of unmixed PVC was about 81,400 tonnes versus 84,600 tonnes a month earlier, RusVinyl decreased their capacity utilisation in November. Overall PVC production reached 975,000 tonnes in January-December 2019, compared to 958,600 tonnes a year earlier. All plants raised their output, except for Kaustik Volgograd.

Omnova is a US based specialty chemical company which develops, manufactures and markets emulsion polymers, speciality chemicals and decorative products and provides engineered surfaces for various commercial, industrial and residential end uses. On completion of the acquisition of Omnova, Synthomer will strengthen further its position as a major global player in water-based polymer solutions, with best-in-class process technology and a strong R&D platform with global geographic coverage and increased customer proximity.


mrcplast.com
Author:Anna Larionova
Tags:petroleum products, PVC, petrochemistry.
Category:General News
|
| More

Leave a comment

MRC help

 


 All News   News subscribe