Synthomer to Buy Hexion’s Adhesives and Coatings Business
HARLOW, England – Synthomer, Harlow England, has agreed to buy Hexion Performance Adhesives & Coatings (Hexion PAC), the adhesives and coatings business of Hexion Inc., Columbus, OH, for $226 million. The acquisition is expected to be completed during the summer of 2016, following regulatory approvals and the satisfaction of other closing conditions.
Hexion PAC develops, manufactures and markets a wide array of dispersions, additives, powder coatings and specialty monomers, supplying customers in industries that include coatings and adhesives. The business operatives seven sites across Europe, the United States and Asia. In 2015, the business generated sales of $370 million.