Nexam Chemical to takeover Sweden’s Plasticolor
Nexam Chemical is set to purchase all shares in Plasticolor Sweden for a total consideration of Skr116m ($13.7m).
Nexam plans to finance Skr33.8m ($3.99m) of the transaction through own funds, Skr60m ($7.09m) with a bank loan and Skr22.2m ($2.62m) through new shares in Nexam Chemical Holding.
Plasticolor manufactures masterbatch products for the plastic industry through its production facilities in four countries. The deal also involves Plasticolor Sweden’s manufacturing equipment and multiple properties.
Nexam Chemical will use Plasticolor’s production capacity to further expand its product portfolio and accelerate its growth.
Nexam Chemicals, which currently focuses on polyethylene pipes, polyester foams, and high-performance applications, will also gain access to new customers and markets segment through this acquisition.
Nexam Chemical CEO Anders Spetz said: "Nexam Chemical has now access to production technology and capacity that fits perfectly with our needs. NEXAMITE Multifunctional Masterbatch is a more advanced masterbatch than we offer today.
"Our customers will be able to benefit from the performance improvements and the cost-effectiveness of NMMB. It also opens doors for establishing ourselves in new segments."
The complementary businesses of the firms are expected to facilitate the launch of NEXAMITE Multifunctional Masterbatch (NMMB), which involves packaging of various additives with NEXAMITE in a masterbatch.
Nexam Chemical offers technology and products designed to enhance production process and properties of different types of plastic through a cost-effective and retained production technology approach.