The divested business, which employs some 860 people and operates 7 production sites (4 in Europe and 3 in North America), will thus be joining Trinseo, a company specialized in the production of plastics, synthetic rubber and latex binders.
The net proceeds of the divestment, based on an enterprise value of €1,137 million, will take into account a capital gains tax estimated at around 15% of this amount.
The Group thus takes another major step in its transformation, with the ambition to become a pure player in sustainable and innovative Specialty Materials by 2024, focused on the three complementary segments of Adhesive Solutions, Advanced Materials and Coating Solutions.
