PERSTORP, Sweden - Specialty chemicals company Perstorp Holding AB (Perstorp) announced the sale of Perstorp Oxo Belgium AB (Perstorp Belgium) to Synthomer plc in a deal worth approximately €78 million. The divestment is in line with Perstorp’s strategy to focus on and expand its core chemicals activities.

Perstorp Belgium manufactures and markets a range of performance additives to a global customer base across a number of end markets, including coatings and plastics. The business employs 41 employees at its Gent, Belgium, facility, who will all be transferred with the business.

In Synthomer’s new release about the acquisition, the company’s Chief Executive Officer, Calum MacLean, commented, "The acquisition of Perstorp Belgium represents another step forward in our strategy to continue to grow and develop Synthomer. The business is an excellent fit and provides increased access to new products and customers. We look forward to welcoming our new colleagues and integrating the business with Synthomer through the remainder of this year.”