Synthomer PLC Disposal of Synthomer Leuna Gmbh facility (6344A)
02 January 2018 - 6:00PM
UK Regulatory
TIDMSYNT
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.
-Ends-
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
END
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