PERSTORP, Sweden - Perstorp has, through its subsidiary Perstorp Polyols Inc., signed an agreement with Hercules Inc., a subsidiary of specialty chemicals company Ashland Inc., for the acquisition of its Penta business, related technology and certain assets. The deal does not include the manufacturing plant in Louisiana, MO, any real estate or employees. The transaction is fully in line with the companies’ strategies going forward. For Perstorp, this is part of an ambitious investment campaign to increase Polyol production.
“The Penta business is a core area within Perstorp, and these products have been key in the development of Perstorp as an international company. The U.S. market in particular has historically been a focus for us for this business,” said Perstorp President and CEO Martin Lundin. “This acquisition is an opportunity to further grow together with our customers in their various applications.”
“Perstorp plans to supply all needs out of the plants we are running at present, and we will have sufficient capacity to supply both our current and new customers. With the additional volumes, as well as equipment and know-how resulting from this acquisition, we plan to increase capacity to meet the customers’ long-term needs,” said Ulrika Andersson, Business Unit Manger Penta & Formates.
The acquisition is subject to fulfillment of certain conditions and is expected to be completed within 60 days.
Perstorp is now producing Penta in three different production plants in Germany, the United States and Sweden. Investments will mainly take place in Perstorp’s U.S. facility.
Perstorp Acquires Ashland's Penta Business
January 6, 2011