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Transaction includes four production sites in the U.S.
April 14, 2023
By: Kerry Pianoforte
Editor, Coatings World
TotalEnergies accepted an offer from Pacific Avenue Capital Partners for the acquisition of three product lines (Wingtack, PolyBD and Dymalink) developed by Cray Valley, its resin production and sales affiliate. The transaction includes four production sites in the United States, the Cray Valley Italy affiliate and the portfolio of customers. The transaction will allow Cray Valley to focus on its global specialty C4 and pure-monomer resin businesses which will continue to be developed by TotalEnergies. Production of the Ricon®, Krasol® and Cleartack® resins will continue at Carling (France), in accordance with the commitments made when the site was restructured in 2013, Grand Junction (US) and Kralupy (Czech Republic). TotalEnergies’ Cray Valley affiliate is a supplier of specialty chemical additives, hydrocarbon specialty chemicals, and liquid or solid tackifying resins used to make adhesives, rubbers, polymers, coatings and other materials.
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