Synthomer closes acquisition of US-based Hexion PAC

1st Jul 2016 07:20

(ShareCast News) - Synthomer completed the acquisition of rival US-based Hexion Performance Adhesives & Coatings for a total cash consideration of $226m, funded via existing cash resources and the utilisation of additional credit facilities. Hexion´s China business, which accounts for about 1.0% of the parent company´s sales, would be subject to a deferred completion, which was expected for the third quarter of 2016.Ahead of its full-year numbers the polymer manufacturer said its outlook, in constant currency, remained unchanged and in-line with the Board´s expectations.-- More to follow --