Deal closed for Perstorp caprolactone acquisition
Perstorp has now closed the agreement with the Solvay Group to acquire the complete Solvay caprolactone business, including a production facility in Warrington, UK, with a workforce of 65. The European Commission announced their approval to the deal on 10 January 2008, with the conclusion that the deal would not distort competition within the EU.
Perstorp has the intention to double the capacity for caprolactones as well as increasing capacities for downstream derivatives to satisfy the strong increase in demand in all the major applications for the products.
“Perstorp’s aim is a long-term commitment in the caprolactone market. To meet the market’s demand for growth, we intend to establish close collaboration with key customers and develop new application areas. Our ambition is to further develop the world’s largest caprolactone manufacturing capacity in Warrington UK to retain the current leading position,” says Mats Persson, Executive Vice President Business of Perstorp.
“Basic engineering activities related to the capacity expansion will be initiated immediately, with the objective to have these completed during the second quarter of 2008. The new capacity is expected to be on stream in the first half of 2010,” says Mårten Olausson, Managing Director of Perstorp UK Ltd.
The caprolactones business had sales in 2006 of EUR 60 million and sales are global. Products are used in applications such as support material for top-quality shoes, advanced coatings for the auto, aerospace and marine industries, performance hot melt adhesives, a new generation of a broad range of polyols for the PU producers and modern orthopedic brace supports. Many applications are showing high growth and several new applications are under development.