MALMÖ, Sweden – Specialty chemicals company Perstorp has agreed to acquire Polialcoli Srl from Polioli SpA. The agreement includes Neo, TMP and TMPDE production, as well as the associated formate businesses, located at the company’s Vercelli site in Italy. The transaction is scheduled to close the end of August.
“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”, said 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,” said Perstorp President and CEO Jan Secher.
TMP is used to enhance the properties in applications such as saturated polyesters and synthetic lubricants. Neo is used in polyesters for powder coatings, coil coatings, unsaturated polyesters for gel-coats and reinforced plastics, polyurethanes for coatings, foams and elastomers, and lubricant esters. TMPDE adds functionality to unsaturated polyesters, polyurethane resins, epoxy resins and resins for ion-exchangers.
Perstorp now produces TMP in Italy, China, the United States and Sweden. The company produces Neo in China, Italy and Sweden.