AkzoNobel Buys Brazilian Organic Peroxides ProducerAkzoNobel Buys Brazilian Organic Peroxides Producer
July 20, 2018
Chemical and coatings firm AkzoNobelis expanding its presence in South America with the planned purchase of Polinox, a Brazil-based maker of ketone peroxide, a major part of polymer production, the company announced in a press release Friday. The Dutch company’s Specialty Chemicals business said it plans to transform the Brazilian firm into a regional leader for curing systems for polyester thermoset resins.
“Our business is on a growth trajectory,” said Johan Landors, a member of AkzoNobel’s executive committee in charge of Polymer Chemistry, in a statement. “Over the past three years, we have invested more than €180 million to better serve our customers, upgrade technologies, increase capacity, and reposition our global manufacturing footprint. The acquisition of Polinox presents a great opportunity to further strengthen our presence in the South American market.”
Under the terms of the deal, AzkoNobel will take ownership of all brands and trademarks held by Polinox, including Tecnox Super and Perbenzox. Following a capacity upgrade of the Dutch firm’s Itupeva, Brazil plant, AzkoNobel plans to transfer production from Polinox sites to its own facility.
“It is very gratifying to look back over the years and think about everything that we were able to accomplish here at Polinox,” Polinox Managing Director Roberto Pontifex said. “AkzoNobel Specialty Chemicals is highly respected in South America, and I am excited to know that Polinox will play a part in its growth ambitions.”
The transaction is slated to reach completion in the fourth quarter of 2018.
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