MOSCOW (MRC) -- Perstorp is securing the future of its Caprolactone business through a significant investment to upgrade its original monomer plant, as per the company's press release.
The new equipment will be constructed using state of the art materials and the investment will future proof the production and even further increase security of supply.
The Caprolactone market is strategic and important to Perstorp. This investment is one step further in the company’s long term commitment to the industry.
The project was initiated and kicked off in the beginning of 2017 and construction phase of the new parts of the plant will start in the new year. The replacement will be conducted in a way that does not impact current production. The plant upgrade consists of installing a new peracetic acid still and new reactors on stream 1, which was originally built in 1998. The project is expected to be complete in the second half of 2019.
"The Capa business is one of our strategic areas and we do see a strong market demand of Capa products. Through this investment we are strengthening our position as a reliable leading partner", says Marie Gronborg, Executive Vice President at Perstorp.
As MRC reported previously, in the first half of 2017, Synthomer plc acquired Perstorp Oxo Belgium AB from the Swedish Perstorp Holding AB for EUR 78 million. Perstorp Belgium is a niche additives business serving the decorative and industrial coatings industries. In 2016, the business generated earnings before interest and tax of EUR 8 million and had gross assets of EUR 21 million. The company operates from a single site in Ghent, Belgium, and has 41 employees, who will all be transferred with the business.
Perstorp is one of the world leaders in various sectors of the specialty chemicals market, it's pioneer in formalin chemistry, plastics and surface materials. Perstorp was founded in 1881 and is controlled by PAI partners,a major European private equity company. The company has around 1,500 employees in with 22 production plants in Europe, Asia and North America.
MRC