Synthomer PLC — M&A Activity 2018

Jan 2, 2018

National Storage Mechanism | Additional information

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RNS Number : 6344A

Synthomer PLC

02 January 2018

The Company considers this announcement to contain inside information

2 January 2017

Synthomer plc

Disposal of Synthomer Leuna Gmbh facility

Synthomer plc (LSE:SYNT) ('Synthomer' or the 'Group'), a leading speciality chemicals company, today announces that it has sold its Leuna site in Germany to Alberdingk Boley Gmbh for an undisclosed price.

The site will continue to manufacture products for Synthomer for an initial period prior to transferring the manufacture of product to the remaining Synthomer network.

The Leuna site was acquired as part of the Hexion PAC acquisition in 2016. The ongoing operational savings related to the sale of the site form the final part of the Group's $12m synergy target relating to that acquisition. Accordingly the sale, which completed on 1 January 2018, will conclude the integration of Hexion PAC into the Synthomer Group.    

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Enquiries:

Calum MacLean, Chief Executive Officer                              Tel: 01279 436211

Stephen Bennett, Chief Financial Officer                               Tel: 01279 436211

Charles Armitstead, Teneo Blue Rubicon                              Tel: 020 3603 5220

This information is provided by RNS

The company news service from the London Stock Exchange

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