Perstorp, Sweden - Swedish chemical group Perstorp has received legal approval for the takeover of the isocyanate activities within Rhodia Organics and Lyondell Chimie, the company said 2 Sept. Perstorp became owner of the two business units as of 1 Sept.
This latest acquisition follows five other recent takeovers driven by Perstorp's sales jumping from SEK 7 billion ($109 million) in 2006 to SEK 16 billion in 2008.
Both of the acquired companies are world leaders in the TDI (toluene diisocyanates) and HDI (Hexamethylene diisocyanate) special chemical products, Perstorp said.
The company said the acquisition will increase Perstorp's sales and operating profit by over 30 percent whilst increasing its amount of employees to 2700. Plants in Le Pont-de-Claix, France and Freeport, Texas, will be added to Perstorp's 11 existing production plants in North and South America, Europe and Asia.