Nouryon has completed its previously announced acquisition of the carboxymethyl cellulose (CMC) business of J.M. Huber Corp. The transaction will reportedly significantly broaden Nouryon’s portfolio of products in CMC, a sustainable, bio-based water-soluble polymer used as a thickener, binder, stabilizer, and film former.
The acquisition underlines Nouryon’s strategy of investing to develop a leading position in attractive growth markets. The newly acquired business manufactures a complete line of CMC grades and serves customers in over 80 countries, generating sales of around €135 million (approximately $151.7 million). It reportedly includes a world-class manufacturing plant and advanced R&D facility located in Äänekoski, Finland. The business’ 248 employees will transfer to Nouryon.
“We are excited by the opportunities that this high-quality business provides,” said Charlie Shaver, chairman and CEO of Nouryon. “With a range of products that complements our existing CMC portfolio, it allows us to offer our current and new customers a significantly broader set of bio-based solutions and confirms our commitment to investing in sustainable growth platforms. We are also pleased to welcome the employees of this business into the Nouryon family.”