SPAIN: Sinochem finalizes Elix Polymers purchase from a Sun European Partners' affiliate

Sinochem International (Overseas) Pte. Ltd. has completed the acquisition of Elix Polymers from an affiliate of Sun European Partners for an enterprise value of USD 195 million. Headquartered in Tarragona, Spain, Elix is a manufacturer of acrylonitrile butadiene styrene resins and derivatives.

From the beginning, it has been focused on the European market and subsequently growth in the NAFTA region, specifically in North America and Mexico, Sun noted. The next step, as part of its growth strategy, was to target Asia, and China in particular. "The integration of Elix into a chemical group as important as Sinochem International will enable them to position the brand quickly in the Asian market and strengthen it in the European and American markets," said Sun.

Source: Weekly “PetroChemical News”, Durham, NC, USA; 14 Jan 2019
(Syed Rashid Ali, Karachi, Pakistan)