Synthomer buys BASF Austrian rubber business for £26m
Speciality chemical company Synthomer said it had bought BASF's Austrian styrene butadiene rubber business for €30m (£26.31m).
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Styrene butadiene rubber is used in the paper industry, mainly in packaging end-markets. The business operates from one site in Pischelsdorf, Austria, Synthomer said.
“The acquisition will enhance Synthomer's SBR business and production network for paper/packaging applications as well as increase the group's access to attractive new opportunities across Europe,” the company said.
It added that the purchase would be fully funded from existing resources. The acquisition is expected to complete early in 2018.