Allnex has completed the acquisition of Bayer MaterialScience's Desmolux product range.
With the acquisition of the Desmolux product range from Bayer MaterialScience, Allnex gains urethane acrylate, dual cure resin and polyester/polyether acrylate technologies that complement its leading position in UV/EB radiation curing products, accroding to the company.
Allnex is recognized for offering the broadest portfolio of high quality, innovative liquid resins and additives, radiation cured and powder coating resins and crosslinkers. The addition of the new Desmolux chemistiries further expands Allnex's product portfolio and enables the company continue to address future customer needs, increase its presence in new applications and develop new markets for radcure. Furthermore, with its expanded portolio, Allnex can further leverage its strong customer relationships and partner network to expand distribution worldwide for both Desmolux and Ebecryl products.
"We are very excited about the closure of this first acquisition for Allnex since being born as an independent company through the divestiture of the Coating Resins business from Cytec just six months ago," noted Allnex CEO Frank Aranzana. "The finalization of this transaction not only signifies our committment to being the preferred resins supplier in the global marketplace, it is one of the first steps we have taken towards establishing Allnex's new identity," he adds. The initial agreement for the sale of the Desmolux product range was signed by Allnex and Bayer MaterialScience in July 2013.