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The transaction is expected to close in the second quarter of 2020, subject to regulatory approvals.
January 30, 2020
By: Anthony Locicero
Copy Editor, New York Post
Nouryon is continuing its growth acceleration plans with an agreement to acquire the carboxymethyl cellulose (CMC) business of J.M. Huber Corporation. The transaction will significantly broaden Nouryon’s portfolio of products in CMC, a sustainable, bio-based water-soluble polymer used as a thickener, binder, stabilizer and film former. The companies have largely complementary positions in CMC end markets, which include home and personal care, mining, food, pharmaceuticals, and paper and packaging. The business manufactures a complete line of CMC grades and serves customers in over 80 countries, generating sales of around €135 million. It includes a manufacturing facility as well as an advanced R&D facility located at Äänekoski, Finland. Around 240 employees from the business will transfer to Nouryon. “We are excited by the opportunity to acquire this high-quality business,” said Charlie Shaver, chairman and CEO of Nouryon. “With an expansive range of products that complements our existing CMC portfolio, this business will allow us to offer our current and future customers a significantly broader set of solutions. This acquisition also confirms our commitment to investing in sustainable growth platforms.” “We’d like to thank our employees in the CMC business for their many years of service to J.M. Huber Corporation and their strong dedication to the Huber Principles, especially our values of safety, environmental sustainability, and operational excellence,” added Mike Marberry, CEO and president of J.M. Huber Corporation. “We are very pleased that Nouryon, which shares our core values, will become the new strategic owner of this business and continue to provide excellent products and services to our long-standing CMC customers.” The transaction is expected to close in the second quarter of 2020, subject to regulatory approvals.
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