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Sinochem News.
com.
cn on July 12, global private equity investment company Anhong Capital announced that the company will sell its holdings of paint resin manufacturer Allen Xin to the global chemical company of Thailand National Petroleum Corporation (PTTGC) for 4 billion euros.
)
.
The transaction is expected to be completed in the fourth quarter of 2021, subject to regulatory approval
Allnex, headquartered in Germany, is the world's largest manufacturer of industrial coating resins.
The types of coatings it provides include powder resins, industrial water-based resins, thermosetting resins, high-solid resins, etc.
, which can be used in the industrial, metal, automotive and packaging industries
.
The coating resin manufacturer has 33 production bases and 23 research and technical facilities around the world, with annual sales of approximately 2 billion euros
Allnex said that at present, the company maintains independent operations
.
After joining PTTGC, the company name, existing business and personnel remain unchanged
The merger with PTTGC this time is the third "change of ownership" of Allnex.
The company was originally UCB Special Surface Technology Co.
, Ltd.
of Belgium.
In March 2005, Cytec purchased the UCB surfactant business for US$1.
8 billion, and Allnex became Cytec's coating resin business unit has established its position as a mainstream supplier of coating resins
.
In 2013, Allnex was acquired by Anhong International Capital Corporation of the United States for US$1.
