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PTTGC 4 billion euros to acquire paint resin manufacturer Allnex

 Last Update: 2021-08-05
 Source: Internet
 Author: User

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Sinochem News.
com News on July 12, private equity investor Advent announced that it has signed an agreement to price paint resin manufacturer Allnex at a price of 4 billion euros (approximately 30.
7 billion yuan, based on the exchange rate of the day ).
Sold to PTT Global Chemical Co.
, Ltd.
(PTTGC), a subsidiary of Thai National Petroleum Corporation
.

At the exchange rate of the day

In 2013, Advent completed the acquisition of the amino resin business from Cytec and became an independent company
.

In 2016, the company acquired Nuplex, a resin manufacturer, to enhance its ability to enter emerging markets

Allnex is a manufacturer of industrial coating resins.

Its products are widely used in industries such as industry, metal, automobile and packaging, including powder resins, water-based industrial resins, curable resins, and cross-linked resins

The Asian coating resin market has strong growth potential
.

The two companies stated that the transaction will allow Allnex to gain more investment opportunities, achieve further expansion in emerging markets, and expand its influence in the Asia-Pacific region

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