ALLNEX: Financial investor sells resin specialist to Thai chemical group

High-tech: Production plant of the Thai PTTGC Group (Photo: PTTGC)
US financial investor
Allnex (Frankfurt / Germany; www.allnex.com) to Thai petrochemical group
PTT Global Chemical (Bangkok; www.pttgcgroup.com). The purchase price amounts to around EUR 4 bn. The deal is expected to be signed and sealed by the end of this year.
Advent had acquired the resin specialist, which originally had emerged from the
Hoechst Group, from former composites specialist
Cytec (today:
Solvay) in 2013 and – not least through the acquisition of its competitor
Nuplex in 2016 – expanded it to become a global leader in its segment. Allnex currently has sales of around EUR 2 bn in coating products, mainly based on unsaturated polyester resins, and employs a staff of more than 4,000. Most recently, Allnex had significantly increased its prices in several steps (see Plasteurope.com of 26.03.2021).

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