Perstorp, the world leader in neopentyl polyhydric alcohols (polyols), has reached an agreement for the acquisition of Polialcoli Srl from parent company Polioli SpA.
The agreement includes the Neo, TMP and TMPDE as well as the associated formate businesses located at the Vercelli site (Italy).
Included in the transaction are also technology, know-how and equipment, with all 74 employees retaining their positions.
Polioli’s CEO Federico Ferlin said:"Polioli SpA has been under receivership for the last four years.
"We have seen a potential in these products but it has proven increasingly difficult to run these product lines in smaller scale plants.
"In order to be successful we have come to the conclusion that it makes more sense to operate these assets through a larger company with global reach.
"It was therefore natural for us to approach Perstorp."
Perstorp President and CEO Jan Secher said: "The transaction is fully in line with Perstorp’s strategy to further strengthen our position in the polyols market.
"TMP and Neo are both key products in our polyol portfolio, which is a core business within Perstorp.
"These product lines have been instrumental in the development of Perstorp as an international company and we are happy to expand our position further to be able to serve a strong demand from the market."
The transaction is scheduled to close on the 31st August.
In addition to Italy, Perstorp is now producing TMP in China, the US and Sweden, and Neo in China and Sweden.
