Perstorp Holding AB (Malmö, Sweden; www.perstorp.com) has announced an agreement for the acquisition of Polialcoli Srl from Polioli SpA. The agreement includes Neopentyglycol (Neo), Trimethylolpropane (TMP) and Trimethylolpropane Diallylether (TMPDE) production capabilities, as well as the associated Formate businesses located at the Vercelli site (Italy). Also included in the transaction are technology, know-how and equipment. The 74 employees who are currently employed in the acquired company are welcomed to the Perstorp group.
“Polioli SpA has been under receivership for the last four years. We have seen a potential in these products but it has proven increasingly difficult to run these product lines in smaller scale plants. In order to be successful we have come to the conclusion that it makes more sense to operate these assets through a larger company with global reach. It was therefore natural for us to approach Perstorp”, says Polioli CEO Federico Ferlin.
“The transaction is fully in line with Perstorp’s strategy to further strengthen our position in the Polyols market. TMP and Neo are both key products in our Polyol portfolio, which is a core business within Perstorp. These product lines have been instrumental in the development of Perstorp as an international company and we are happy to expand our position further to be able to serve a strong demand from the market”, Perstorp President and CEO Jan Secher says.
The transaction is scheduled to close on August 31 or at such later date as the required procedures have been completed.
With this acquisition, Perstorp is now producing TMP in Italy, along with established production sites in China, the US and Sweden, and Neo in China and Sweden.