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March 28, 2016
By: KERRY PIANOFORTE
Editor, Coatings World
Synthomer plc, one of the leading specialty chemicals company, announces that it has agreed to sell its dispersions business in South Africa to Ferro S.A. for a total consideration of €13 million. In 2015 the business had a turnover of around €445 million and generated EBITDA of around €37 million. The sale is expected to complete during summer 2016 following receipt of regulatory approvals. The Board’s decision to dispose of the business reflects the declining EBITDA and cash flow performance in a competitive market, a requirement for ongoing investment in the assets and the increasingly challenging environment.
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