Nuplex Industries, a polymer resins manufacturer, has entered into a binding agreement to buy Viverso's operations and product groups in Germany from Bayer MaterialScience (BMS) for €75m.
Viverso makes resins used in coatings and putties.
The deal is expected to be completed by the end of 2011 and will allow Nuplex to expand the product range including Viverso's solvent free, water resistant resins used in construction coatings, resins for putties used in vehicle refinish; as well as resins offering unique chemical resistance and high temperature performance.
Viverso is expected to be earnings per-share accretive for Nuplex shareholders in the 2012 financial year.
