The Australian unit of global chemicals manufacturer Solenis has signed a deal to buy the Australasian pulp and paper chemicals division of Nuplex Industries for $A21 million.
Solenis Australia will acquire the technical, commercial, production assets and personnel of the Nuplex Pulp & Paper ANZ business and the deal is expected to be completed before June 30 this year. Nuplex's manufacturing site in Victoria and its staff will be transferred with the sale.
Nuplex is currently the exclusive distributor and technology licensee of Solenis pulp and paper products within Australasia and the acquisition will enable Solenis to streamline its local operations, according to Nandu Dhekne, vice president Asia Pacific, Solenis.
"The Australia and New Zealand market is an important market for Solenis and the opportunity to expand our business in the region by going direct to the market through the acquisition of the Nuplex Pulp & Paper business will enable Solenis to be a total solution provider for our customers," said Dhekne.
Nuplex Industries, a leading global chemicals maker, has been offloading non-core assets as it negotiates a proposed sale to US-based Allnex Belgium SA. "Given our global operations and specialisation in resins for surface coatings, the pulp and paper business is no longer core to Nuplex’s future," said chief executive Emery Severin.
Solenis is a leading global manufacturer of specialty chemicals for the pulp, paper, oil and gas, chemical processing, mining, biorefining, power and municipal markets. Headquartered in Wilmington, Delaware, the company operates 30 manufacturing facilities around the globe and employs a team of 3,500 staff in 118 countries across five continents.