Perstorp to buy Lonza’s Singapore PIPA unit

27 September 2007 08:50  [Source: ICIS news]

MUMBAI (ICIS news)--Perstorp has agreed to acquire Lonza Group’s purified isophthalic acid (PIPA) manufacturing plant in Singapore for an undisclosed sum on Thursday, and it expects the transaction to be finalised before the end of the year.

"Through this strategic acquisition, the Perstorp Group is widening its product portfolio and strengthening its position in Asia," the specialty chemicals company said.

Lonza Singapore is a leading manufacturer and marketer of PIPA, Perstorp said, which is used as a key ingredient in manufacturing performance coatings, unsaturated polyester resins and PET-bottle grade resins.

"The production of PIPA will be yet another cornerstone on which Perstorp will build its future," said Bo Dankis, president and CEO, Perstorp.

Perstorp will assume control of the business and all related assets once the transaction is finalised, which is subject to regulatory approval.

By: Divya Chowdhury
+65 6780 4359

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