PERSTORP
Vyncolit sold to Sumitomo / Materials segment now accounts for only 8% of total group sales
The Swedish holding company, Sydsvenska Kemi AB (www.sydsvenskakemi.se), the parent company of the chemical specialties group Perstorp, has sold Vyncolit NV (B-9000 Gent; www.vyncolit.com) and Vyncolit North America Inc, which was founded in 2000, to Sumitomo Bakelite Co Ltd (Tokyo / Japan; www.sumibe.co.jp). The purchase price is SEK 856m, which converts to around EUR 93.5m. Sumitomo claims to be the world´s largest manufacturer of phenolic moulding materials with 14 plants in 8 countries.
Vyncolit, which has sales of around EUR 60m with a workforce of about 300, manufactures technical compounds based on phenolic resin, primarily for the automotive industry. Other applications include electrical engineering, domestic appliance production, gas supply and the aircraft industry. The company operates two technology centres in Gent / Belgium and Detroit / USA.
Perstorp thus intends to continue focusing on the core business of “Specialty Chemicals” (polyols, plasticisers), which, in 2004, accounted for 84% of its total sales of around EUR 713m. In the second, far smaller segment, “Materials Technology”, in which Vyncolit accounted for 54.5% of total sales, only the segments “Compounds” and “Advanced Composites” remain.
• e-Service:
Sydsvenska Kemi annual report 2004 as PDF document (1.855 KB)
Sydsvenska Kemi interim report on the first quarter of 2005 as PDF document (299 KB)
Vyncolit, which has sales of around EUR 60m with a workforce of about 300, manufactures technical compounds based on phenolic resin, primarily for the automotive industry. Other applications include electrical engineering, domestic appliance production, gas supply and the aircraft industry. The company operates two technology centres in Gent / Belgium and Detroit / USA.
Perstorp thus intends to continue focusing on the core business of “Specialty Chemicals” (polyols, plasticisers), which, in 2004, accounted for 84% of its total sales of around EUR 713m. In the second, far smaller segment, “Materials Technology”, in which Vyncolit accounted for 54.5% of total sales, only the segments “Compounds” and “Advanced Composites” remain.
• e-Service:
Sydsvenska Kemi annual report 2004 as PDF document (1.855 KB)
Sydsvenska Kemi interim report on the first quarter of 2005 as PDF document (299 KB)
16.06.2005 Plasteurope.com [202924]
Published on 16.06.2005
German version of this article...