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PERSTORP ANNOUNCES SOLVAY CAPROLACTONE ACQUISITION

February 14, 2008
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Perstorp has closed an agreement with the Solvay Group to acquire the complete Solvay caprolactone business, including a production facility in Warrington, UK, with a workforce of 65. The European Commission announced their approval of the deal on Jan. 10, 2008, with the conclusion that the agreement would not distort competition within the EU.

Perstorp intends to double the capacity for caprolactones as well as increase capacities for downstream derivatives to satisfy strong demand in all major applications for the products.

“Perstorp’s aim is a long-term commitment in the caprolactone market,” said Mats Persson, executive vice president of Business for Perstorp. “To meet the market’s demand for growth, we intend to establish close collaboration with key customers and develop new application areas. Our ambition is to further develop the world’s largest caprolactone manufacturing capacity in Warrington UK to retain the current leading position.”

“Basic engineering activities related to the capacity expansion will be initiated immediately, with the objective to have these completed during the second quarter of 2008,” said Mårten Olausson, managing director of Perstorp UK Ltd. “The new capacity is expected to be on stream in the first half of 2010.”

The caprolactones business had sales in 2006 of €60 million, and sales are global. Products are used in applications such as support material for top-quality shoes, advanced coatings for the auto, aerospace and marine industries, performance hot melt adhesives, a new generation of a broad range of polyols for the PU producers, and modern orthopedic brace supports. Many applications have shown high growth, and several new applications are under development.

For more information, visit www.perstorp.com.

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