£2.3bn sustainable chemical manufacturer expands territory via £764m acquisition

London based Synthomer PLC has announced that it has now completed the $1bn (approx. £763.6m) acquisition of Eastman’s Adhesive Resins business.

Synthomer is one of the world’s leading suppliers of acrylic and vinyl emulsions polymers, speciality polymers and styrene-butadiene and acrylonitrile-butadiene latex. It operates in many market segments including coatings, construction, technical textiles, paper and synthetic latex gloves.

The acquired business will form a new division within Synthomer called Adhesive Technologies. It has a leading position in the global adhesives market which is exposed to attractive end-markets with resilient GDP+ growth fundamentals.

Furthermore, Synthomer now has an expanded geographic footprint, increased R&D capability and a portfolio that offers greater scale and diversity.

CEO Michael Willome commented: “Our Adhesive Technologies division adds a very exciting new growth dimension to Synthomer. Its portfolio takes us into more specialised, more global and higher growth segments and as part of Synthomer, we are confident that we will be able to expand this part of our business significantly.

“I would like to extend a warm welcome to our new Adhesive Technologies employees around the world. I look forward to working together and realising the value potential that lies ahead.”