Perstorp, Sweden - Perstorp has completed its acquisition of the speciality chemicals operation Rhodia Organics and LyondellBasell subsidiary, Lyondell Chimie TDI SCA, the company said 7 July.
The acquisitions will include the production of TDI (toluene diisocyanate), HDI (hexamethylene diisocyanate) and HDI derivatives, used as hardeners in coatings and as intermediates in foam-related products in the automotive and furniture industries, Perstorp added.
"The acquisition of Rhodia's and Lyondell Chimie TDI SCA's operations adds more than 30 percent to both sales and operating profit, giving us critical volume and placing us among Europe's leading speciality companies. Following a number of successful acquisitions in recent years, we will continue to strengthen our market position through strategic acquisitions combined with organic, innovation-driven growth," said Bo Dankis, president and ceo of Perstorp.
Perstorp said the acquired operations have around 700 employees, production facilities in Pont-de-Claix, France and Freeport, Texas and generated sales of around Euro 500 million ($786 million) in 2007.
This acquisition follows Perstorp's takeover of Solvay's caprolactones business in the UK and Lonza's PIA (purified isopthalic acid) operations in Singapore.
Dankis concluded, "The unit will become one of our largest, completing our offering and giving us an outstanding portfolio for the coating industry while providing us with significant cross-fertilisation potential within R&D and sales."