International. Perstorp announced an agreement for the acquisition of Polialcoli Srl from Polioli SpA. The agreement includes Neo, TMP and TMPDE products, as well as the associated Formate businesses located on the Vercelli (Italy) site. Technology, know-how and equipment are also included in the transaction. The 74 employees currently in the acquired company will remain in the Perstorp group.
"Polioli SpA has been under judicial administration for the past four years. We have seen potential in these products, but an increase in the difficulty of running these product lines in smaller-scale plants has been demonstrated. To be successful we have come to the conclusion that it makes more sense to manage these assets through a larger company with global reach. Therefore, it was natural for us to approach Perstorp," says Federico Ferlin, CEO of Polioli.
"The transaction is in line with Perstorp's strategy to further strengthen our position in the polio market. TMP and Neo are the two key products in our Polyol portfolio, which is a core business within Perstorp. These product lines have been instrumental in Perstorp's development as an international company and we are happy to expand our position beyond being able to serve strong market demand," said Jan Secher, President and CEO of Perstorp.
The transaction is scheduled to close on August 31 or at a later date when the required procedures have been completed.
Perstorp is producing TMP, in addition to Italy, in China, the United States and Sweden, and Neo in China and Sweden.
