Nouryon recently announced that it has reached an agreement to acquire the carboxymethyl cellulose (CMC) business of J.M. Huber Corp. The transaction will broaden Nouryon’s portfolio of products in CMC, a sustainable, bio-based water-soluble polymer used as a thickener, binder, stabilizer, and film former.
According to Nouryon, the acquisition underlines its strategy of investing in attractive growth markets, including bolt-on acquisitions. The business manufactures a complete line of CMC grades and serves customers in over 80 countries, generating sales of around €135 million (approximately $149.2 million). The acquisition includes a manufacturing facility and an advanced R&D facility located at Äänekoski, Finland. Around 240 employees will transfer to Nouryon.
“We are excited by the opportunity to acquire this high-quality business,” said Charlie Shaver, chairman and CEO of Nouryon. “With an expansive range of products that complements our existing CMC portfolio, this business will allow us to offer our current and future customers a significantly broader set of solutions. This acquisition also confirms our commitment to investing in sustainable growth platforms. We look forward to welcoming the employees of this business into the Nouryon family.”
“We’d like to thank our employees in the CMC business for their many years of service to J.M. Huber Corporation and for their strong dedication to the Huber Principles, especially our values of safety, environmental sustainability, and operational excellence,” said Mike Marberry, CEO and president of J.M. Huber. “We are very pleased that Nouryon, which shares our core values, will become the new strategic owner of this business and continue to provide excellent products and services to our long-standing CMC customers.”