22nd Oct 2014 14:16
LONDON (Alliance News) - Synthomer PLC Wednesday said it has now fully acquired Eka Synthomer from Akzo Nobel after acquiring the remaining 50% for EUR5 million.
Eka Synthomer was a joint venture between Synthomer Deutschland GmbH and Akzo before the latter divested from the project.
Eka Synthomer is based in Finland and produces and sells high quality styrene-butadiene latex products for the paper and board industry mainly in Nordic countries.
"This transaction is consistent with our strategy and represents another logical step in the consolidation of the European SBR latex market," said Chief Executive Adrian Whitfield in a statement.
Synthomer shares were up 3.3% to 216.20 pence per share Wednesday afternoon.
By Joshua Warner; [email protected]; @JoshAlliance
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