Company News
May 31, 2022
Applied Adhesives Makes Another Acquisition
Arsenal’s APPLIED Adhesives
Acquires Alliance Adhesives
MINNETONKA, Minn., May 25, 2022 – APPLIED Adhesives, a premier custom adhesive solutions provider in North America, today announced that it has completed its acquisition of Alliance Adhesives, a regional supplier of adhesives and dispensing equipment solutions located in Oldsmar, FL. This acquisition strengthens the Company’s commitment to providing industry-leading products, technical expertise, and superior service to its customers.
“Alliance’s dedication to providing an exceptional customer experience is in direct alignment with Applied’s commitment to relentless customer focus, demonstrating an ideal cultural fit,” said John Feriancek, President and CEO of APPLIED Adhesives. “We are pleased to welcome Alliance Adhesives to APPLIED Adhesives and look forward to providing their customers with the outstanding service and innovative solutions they have come to expect.”
“Alliance always has the mindset that we are an extension of our customers’ business by supporting their needs to drive their success. Our relationship with our customers is our number one priority. We have them to thank for who we are today,” said David Rittenhouse, President of Alliance Adhesives. “Applied shares those same values and mindset. We feel the support that Applied brings to the table and their passion for relentless customer focus makes this a win for everyone.”
About APPLIED Adhesives
APPLIED Adhesives, founded in 1971, is a premier custom adhesive solutions provider in North America. The company is a value-added distributor of hot melt, water-based, and reactive adhesives as well as dispensing equipment. APPLIED Adhesives serves as a critical supply chain partner to leading adhesive manufacturers and formulators by offering reach and high service levels to an expansive customer base. For more information, please visit appliedadhesives.com or follow us on LinkedIn.
About Alliance Adhesives
Located in Oldsmar, FL, Alliance Adhesives is a regional, family-owned manufacturer and distributor of industrial adhesives. For 20 years, customers have depended on Alliance for cost-effective solutions for their adhesives needs. Alliance serves customers of all types including small- and medium-sized businesses, large enterprises, agricultural, educational institutions, government agencies, and consumers. For more information, please visit Allianceadhesives.com
About Arsenal Capital Partners
Arsenal is a leading private equity firm that specializes in investments in middle-market industrial growth and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds of more than $10 billion, has completed more than 250 platform and add-on investments, and achieved more than 30 realizations. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value-add. Visit www.arsenalcapital.com for more information.
May 20, 2022
Covestro Expansion
Covestro opens Barcelona production line for engineering prepolymer range
by Rob Coker
19 May 2022
11:49
Covestro has launched the production of Desmodur 15 prepolymers at its Spanish site in Barcelona. The company is thus addressing a growing demand for high-performance elastomers for a broader range of demanding applications.Expand
Covestro
Covestro opens Barcelona production line for engineering prepolymer range
COVESTRO, inauguración planta en Barcelona
Combining highly mechanical characteristics with dynamic load-bearing capacity, elastomers based on Desmodur 15 prepolymers are considered among the most powerful and easy to process cast polyurethanes in the market.
Philip Bahke, Head of Operations at Covestro Elastomers, said: “With this strategic investment, Covestro aims to further enlarge the capacity and improve the reliability of its global supply of Desmodur 15-based products.”
Covestro’s Barcelona site has been operating entirely on renewable energy since the beginning of 2022 as part of the company’s ambition to reduce its environmental impact while offering access to specialty products.
The new production unit for Desmodur 15 prepolymers in Barcelona runs parallel to the ongoing expansion of Covestro’s naphthylene diisocyanate (NDI) capacities in the Asia-Pacific region.
Through such investments, Covestro aims to support the demand for ultra-high-performance elastomers used for superior applications in, for example, the materials handling industry and a growing number of engineering applications.
May 20, 2022
Covestro Expansion
Covestro opens Barcelona production line for engineering prepolymer range
by Rob Coker
19 May 2022
11:49
Covestro has launched the production of Desmodur 15 prepolymers at its Spanish site in Barcelona. The company is thus addressing a growing demand for high-performance elastomers for a broader range of demanding applications.Expand
Covestro
Covestro opens Barcelona production line for engineering prepolymer range
COVESTRO, inauguración planta en Barcelona
Combining highly mechanical characteristics with dynamic load-bearing capacity, elastomers based on Desmodur 15 prepolymers are considered among the most powerful and easy to process cast polyurethanes in the market.
Philip Bahke, Head of Operations at Covestro Elastomers, said: “With this strategic investment, Covestro aims to further enlarge the capacity and improve the reliability of its global supply of Desmodur 15-based products.”
Covestro’s Barcelona site has been operating entirely on renewable energy since the beginning of 2022 as part of the company’s ambition to reduce its environmental impact while offering access to specialty products.
The new production unit for Desmodur 15 prepolymers in Barcelona runs parallel to the ongoing expansion of Covestro’s naphthylene diisocyanate (NDI) capacities in the Asia-Pacific region.
Through such investments, Covestro aims to support the demand for ultra-high-performance elastomers used for superior applications in, for example, the materials handling industry and a growing number of engineering applications.
May 18, 2022
Petronas to Buy Perstorp
Malaysia’s Petronas in $2.4bn deal to buy Swedish chemical maker
Both companies see acquisition as opening new growth paths
Malaysia’s Petronas Chemicals is buying Swedish chemical maker Perstorp Holding. (Source photos courtesy of Petronas Chemicals and screenshot from Perstorp Group YouTube page) P PREM KUMAR, Nikkei staff writerMay 17, 2022 21:12 JST
KUALA LUMPUR — Malaysia’s Petronas Chemicals Group, a subsidiary of state energy firm Petroliam Nasional Berhad (Petronas), said on Tuesday it will acquire Swedish specialty chemicals maker Perstorp Holding in a deal worth 2.3 billion euros ($2.4 billion).
Petronas Chemicals said it signed a securities purchase agreement on Saturday to acquire all shares in Perstorp from European private equity firm Financière Forêt S.à.r.l for 1.54 billion euros in cash and take on Perstorp’s existing debt of 762 million euros.
“Perstorp is an outstanding strategic fit for Petronas Chemicals and enables us to participate in attractive end-markets such as paints and coatings, construction, automotive, personal care and animal nutrition that share a robust growth outlook,” Mohd Yusri Mohamed Yusof, managing director and CEO of the Malaysian company, said in a statement.
In a separate release, Jan Secher, Perstorp’s president and CEO, highlighted advantages for the Swedish company.
“By tapping into PCG’s strength and market leading position in the Asia Pacific region, we are confident that Perstorp can continue to develop into its next phase of growth,” Secher said.
According to its website, Perstorp was established more than 140 years ago and has expertise in resins and coatings, engineered fluids and animal nutrition markets.
The Swedish company also operates in 26 countries and has seven manufacturing sites and three research and development centers. It employs about 1,500 people and has over 2,600 customers worldwide. It offers 130 products within 30 product groups.
In the financial year ended December 2021, Perstorp recorded 1.3 billion euros in revenue and 103 million euros in after-tax profit.
For the same period, Petronas Chemicals had a net profit of 7.35 billion ringgit ($1.67 billion) on the back of 23.03 billion ringgit in revenue.
According to Mohd Yusri, Perstorp will add up to 2.3 metric tons a year to Petronas Chemicals’ production capacity and contribute about 28% in incremental revenue to the company based on the 2021 results.
The completion of the acquisition is subject to relevant regulatory and shareholder approvals.
May 18, 2022
Petronas to Buy Perstorp
Malaysia’s Petronas in $2.4bn deal to buy Swedish chemical maker
Both companies see acquisition as opening new growth paths
Malaysia’s Petronas Chemicals is buying Swedish chemical maker Perstorp Holding. (Source photos courtesy of Petronas Chemicals and screenshot from Perstorp Group YouTube page) P PREM KUMAR, Nikkei staff writerMay 17, 2022 21:12 JST
KUALA LUMPUR — Malaysia’s Petronas Chemicals Group, a subsidiary of state energy firm Petroliam Nasional Berhad (Petronas), said on Tuesday it will acquire Swedish specialty chemicals maker Perstorp Holding in a deal worth 2.3 billion euros ($2.4 billion).
Petronas Chemicals said it signed a securities purchase agreement on Saturday to acquire all shares in Perstorp from European private equity firm Financière Forêt S.à.r.l for 1.54 billion euros in cash and take on Perstorp’s existing debt of 762 million euros.
“Perstorp is an outstanding strategic fit for Petronas Chemicals and enables us to participate in attractive end-markets such as paints and coatings, construction, automotive, personal care and animal nutrition that share a robust growth outlook,” Mohd Yusri Mohamed Yusof, managing director and CEO of the Malaysian company, said in a statement.
In a separate release, Jan Secher, Perstorp’s president and CEO, highlighted advantages for the Swedish company.
“By tapping into PCG’s strength and market leading position in the Asia Pacific region, we are confident that Perstorp can continue to develop into its next phase of growth,” Secher said.
According to its website, Perstorp was established more than 140 years ago and has expertise in resins and coatings, engineered fluids and animal nutrition markets.
The Swedish company also operates in 26 countries and has seven manufacturing sites and three research and development centers. It employs about 1,500 people and has over 2,600 customers worldwide. It offers 130 products within 30 product groups.
In the financial year ended December 2021, Perstorp recorded 1.3 billion euros in revenue and 103 million euros in after-tax profit.
For the same period, Petronas Chemicals had a net profit of 7.35 billion ringgit ($1.67 billion) on the back of 23.03 billion ringgit in revenue.
According to Mohd Yusri, Perstorp will add up to 2.3 metric tons a year to Petronas Chemicals’ production capacity and contribute about 28% in incremental revenue to the company based on the 2021 results.
The completion of the acquisition is subject to relevant regulatory and shareholder approvals.
Everchem Updates Archive 
Sign Up for Email Updates