Rohm and Haas Company said today it has completed the acquisition of FINNDISP, the polymer dispersions division of OY Forcit AB for ?60 million.
FINNDISP, based in Hanko, Finland, makes water-based emulsions used in the manufacture of paints and coatings, lacquers and adhesives. Their portfolio includes low-temperature, high performance products specifically designed for use in Northern Europe and the Commonwealth of Independent States. The acquisition also includes two plants - one in Hanko, and another under construction in Ramenskoye, Russia, near Moscow. These will become a part of a network of more than 30 plants worldwide that provide consistently high quality products tailored to meet local and regional needs.
Rohm and Haas says it intends to expand the capabilities of the Ramenskoye plant so that it can make a broader range of products, including acrylic emulsions and polyacrylic acid dispersions used in detergent and industrial applications.
The expanded facility plant should be fully operational during the second half of 2009.
Luis Fernandez, Vice President and Group Business Director for Rohm and Haas`s ?1.4 billion (US$2 billion) Paint and Coatings Materials business, commented, - We are very excited about our future together, and fully committed to serving both current and future customer needs in this important part of the world.
He said he is most excited about the talented workforce that is joining Rohm and Haas. - FINNDISP employees have developed significant expertise in developing the right technology for their customers in a fast-growing region. Over time, we will share that knowledge across our global network while preserving the culture that brought them to where they are today - he added.
Gray Wirth, President of the company`s Europe, Middle East and Africa Region, confirmed Fernandez` observations about growth. - The FINNDISP acquisition extends our reach in Nordic Countries and the Commonwealth of Independent States. It also contributes to our expanding manufacturing footprint in Eastern Europe, and our desire to build a strong and diverse talent pool across the region. This acquisition is further evidence of our commitment to this part of the world - he said.
Leading the way since 1909, Rohm and Haas is a global pioneer in the creation and development of innovative technologies and solutions for the specialty materials industry.
The company`s technologies are found in a wide range of industries including: Building and Construction, Electronics and Electronic Devices, Household Goods and Personal Care, Packaging and Paper, Transportation, Pharmaceutical and Medical, Water, Food and Food Related, and Industrial Process. Innovative Rohm and Haas technologies and solutions help to improve life every day, around the world. Based in Philadelphia, PA, the company generated annual sales of approximately $8.9 billion in 2007.
The company`s Paint and Coatings materials business is the world`s leading supplier of materials used by the global coatings industry; no competitor can offer this range of technology, along with the capability to provide customized products in all four regions. It includes acrylic emulsion binders and additives for decorative architectural paints used by do-it-yourself consumers and professional contractors. Industrial materials serve as the foundation for industrial coatings, caulks and sealants, home insulation and floor care products.