Specialty chemicals company Nouryon (Amsterdam, The Netherlands) has finalized its acquisition of the carboxymethyl cellulose (CMC) business of J.M. Huber Corporation (Edison, New Jersey, USA). Nouryon originally announced its agreement with J.M. Huber Corporation back in January.
This transaction is expected to broaden Nouryon’s product portfolio of CMC, a sustainable, bio-based water-soluble polymer that can be used as a thickener, binder, stabilizer, and film former. In addition, it underlines the company’s strategy of investing in attractive growth markets such as CMC, which can be used in a broad range of end markets such as home and personal care, buildings and infrastructure, food, pharmaceuticals, and packaging.
“We are excited by the opportunities that this high-quality business provides,” says Charlie Shaver, chairman and chief executive officer of Nouryon. “With a range of products that complements our existing CMC portfolio, it allows us to offer our current and new customers a significantly broader set of bio-based solutions and confirms our commitment to investing in sustainable growth platforms. We are also pleased to welcome the employees of this business into the Nouryon family.”
Nouryon’s newly-acquired business makes a complete line of CMC grades, serves customers in more than 80 countries, and generates sales of around £135 million ($168.3 million). It also includes a world-class manufacturing plant and advanced research and development facility based in Finland. All 248 employees who worked for J.M. Huber Corporation’s CMC business will now transfer to Nouryon.
For more information on the company’s CMC portfolio, click here.
Source: Nouryon, www.nouryon.com.