Bakelite buys Meerbeck phenolic resins business
November 20, 2001
Bakelite AG, a wholly owned subsidiary of the Rütgers Group, has on November 15, 2001, signed a Sale and Transfer Agreement to buy the phenolic resins business of Neste Chemicals GmbH, a wholly owned subsidiary of Dynea Oy, at Moers/Meerbeck. To become effective, the agreement is subject to approval by the competition authorities.
The acquisition consists of sales in phenolic resins of approximately ? 5 million. The resins are applied in the panelboard and abrasive industry. The take-over is considered a step forward in Bakelite?s efforts to achieve a leading position in Europe.
The divestment of Dynea?s Meerbeck business was an undertaking agreed with the European Commission by Industri Kapital in connection of Sydsvenska Kemi?s acquisition of Perstorp AB. Sydsvenska Kemi is owned by the Industri Kapital 2000 Fund.
After the divestment, Dynea continues to have production for polymer dispersion and paraffin emulsions at the Moers/Meerbeck site. This production is operated under a long-term tolling agreement with Sasol Germany GmbH (previously Condea Chemie GmbH).
Bakelite
Bakelite is a subsidiary of the RÜTGERS Group in Essen, Germany. The Group recorded sales of approximately ? 3,1 billion and employs 13,900. Bakelite is one of Europe?s leading phenolic resin producers, with sales in 2000 totalling ? 421 million. Bakelite has workforce of over 1,600 people at plants located in Germany, Italy, Spain, Finland and the USA.
Dynea
Dynea is one of the world?s leading providers of industrial adhesive systems. Adhesive resins are used in a variety of applications by the panel board industry, laminated beam and structural wood manufacturers, the mineral and glass fibre industry, the paper impregnating industry, and many others. Dynea also produces paper overlays and oil field chemicals.
In 2000, Dynea had combined revenues of approximately EUR 1.0 billion. With over 50 production units in 25 countries in Europe, the Americas and Asia Pacific, Dynea has some 3,000 employees. Dynea Oy is controlled by the Industri Kapital 1997 Fund and the Industri Kapital 2000 Fund. www.dynea.com.
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