The globally active specialty chemicals company Perstorp Group from Malmö, Sweden, is being acquired by Petronas Chemicals Group Berhad (PCG), Kuala Lumpur, Malaysia.
PCG is said to have acquired all shares in Perstorp Holding AB. "(...) We are confident that by leveraging PCG's strength and market-leading position in the Asia Pacific region, Perstorp can embark on its next phase of growth," commented Jan Secher, President and CEO of Perstorp, on the acquisition. "Perstorp is an excellent strategic fit for PCG and enables us to participate in attractive end markets such as paints and coatings, construction, plastic additives, personal care and food, feed and nutrition, all of which have robust growth prospects," said PCG Managing Director and CEO Ir. Mohd Yusri Mohamed Yusof.
Founded more than 140 years ago, Perstorp is a leading niche supplier of specialty chemicals, developing sustainable solutions with a focus on the resins and coatings, technical fluids and pet food markets. The company has a global sales presence, seven state-of-the-art production facilities in Europe, the US and China (the eighth facility will be completed in India in 2023) and three research and development (R&D) centers worldwide with around 1,500 employees serving more than 2,600 customers around the world.
The acquisition values the Perstorp Group at an enterprise value of EUR 2,300.0 million. Completion of the acquisition is subject to regulatory and shareholder approval.
