The transaction is fully in line with both companies’ strategies going forward. For Perstorp, this is an important part of an ambitious plan to strengthen the position in the Asian Market and to add a platform for investment in order to long term expand the Penta business.
“Penta is a core business area within Perstorp and these products have been instrumental in the development of Perstorp as an international company. The acquisition is line with Perstorp's strategy to drive growth and in particular in the Asia Pacific region. It demonstrates our commitment and ability to add high quality businesses to an already strong portfolio.” says Perstorp president and CEO Jan Secher.
“This action empowers Perstorp’s ambitious investment plan to increase Penta and Di-Penta capacity supporting our customers’ long-term growth. There has been significant planning to ensure sufficient capacity to supply both current and new customers. Perstorp has already successfully incorporated the TMP business from Koei in the past and we are very confident that this transaction will follow the same level of high customer satisfaction.” says Ulrika Andersson, Vice President Business Unit Penta.
Penta is used to enhance the properties in applications such as alkyd resins, PVC stabilizers, synthetic lubricants and varnishes. Perstorp is now producing Penta in three different production plants in Germany, the US and Sweden. The initiative confirms Perstorp's leadership in the Penta market.