Jiangsu Sinorgchem Technology Co., Ltd., a member company of Sinochem International Corporation, announced that it has entered into an agreement to acquire two (2) specialty chemical units (Polymer Additives and Nitriles business groups) of Emerald Performance Materials, LLC, a US manufacturer and marketer of specialty chemicals, from DyStar LP, the US subsidiary of DyStar Global Holdings (Singapore) Pte. Ltd., a market leader in textile industry.
Nicky Yu, spokesperson, Jiangsu Sinorgchem, Shanghai, told OEM/Lube News "The plants produce Aminic and Phenolic antioxidants for rubber, plastic, and lubricant applications".
In a separate transaction immediately before, DyStar LP acquired the Polymer Additives and Nitriles business groups from Emerald Performance Materials, LLC. [DyStar LP also acquired three (3) other specialty chemical units from Emerald at or about the same time.]
Upon completion of the transactions, Jiangsu Sinorgchem will obtain two (2) new manufacturing sites in the US, in addition to current three (3) plants in China.
This acquisition will enhance our presence in North America and bring us closer to international customers. It reflects the commitment that Jiangsu Sinorgchem will continueusly invest and develop in rubber chemical industry. As a milestone of implementing our global growth strategy, we believe it will be a win-win opportunity for both parties. Were looking forward to welcoming Emeralds team to our family, said QIN Hengde, Chairman of Jiangsu Sinorgchem. Jiangsu Sinorgchem is committed to persistently provide high quality products and services to customers. Amidst challenging business environment, the expansion of product portfolio and achievable synergies will make us stronger. We will achieve long term growth and success together.
The transactions are subject to regulatory approvals of the Chinese government, the Committee on Foreign Investment in the United States, and the Antitrust Division of the U.S. Department of Justice.
