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Synthomer confirms completion of BASF Austrian SBR business
Synthomer announced on Thursday that it has successfully completed the acquisition of the BASF Austrian SBR business and assets, as initially announced in September last year.
The FTSE 250 firm said the enterprise value of 30m was fully funded from existing resources.
"The business produces styrene butadiene rubber used in the paper industry, notably in packaging end-markets," Synthomer's board said in its statement.
It said the business operates from one site in Pischelsdorf, Austria, and was fully integrated as of Thursday within Synthomer's styrene butadiene rubber business and production network for paper and packaging applications.
"It underscores our long term commitment to our customers in the paper industry, whilst providing us with an additional site to strengthen our network and stronger access to growing packaging end-markets in Europe."