Speciality chemicals company Synthomer to acquire Omnova in $824m

Speciality chemicals company Synthomer has signed a $824m agreement to acquire Omnova Solutions to strengthen its global position as a major chemicals company.

Omnova develops, manufactures and markets polymers, dispersions and elastomers, as well as other speciality chemicals.

Upon completion of the transaction, Synthomer expects to add to its earnings in the first financial year and projects an annual pre-tax cost savings of $29.6m by the end of the third year.

Synthomer chief executive Calum MacLean said: “The acquisition of Omnova represents an attractive opportunity to materially expand our international business into North America and expand our presence in Europe and Asia, creating a global speciality chemical company. (source)

Omnova reported sales of $769.8 million last year. It operates two business segments, specialty solutions and performance materials, with 63% of sales last year derived from the specialty solutions segment and 37% from the performance materials unit.

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Synthomer Plc is a specialty chemical company. The Company supplies aqueous polymers in various markets, including paper, carpet and foam, construction and coating, functional polymers, health and protection, specialties and other. It operates in segments, including Europe and North America and Asia and Rest of World. It offers various products, including nitrile butadiene rubber for product areas, such as medical gloves and other dipped latex products; styrene butadiene rubber for product areas, such as packaging, bindings for carpet, foams for mattresses, pillows and shoes, as well as compounds for carpet backing and high solid latex applications; specialties for product areas, such as automotive sound dampening, polyvinyl chloride, polyester resins for powder coatings, catalysts, flame retardants and monomers, and dispersions for product areas, such as cement modification, primers, flooring adhesives, flexible roof coatings, emulsion and specialist paints, coatings and oilfields.

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