Swedish Perstorp,Specialty Chemicals Company has acquired Lonza’s manufacturing plant for Purified Isophthalic Acid (PIA) in Singapore for $138m on September 28, 2007.
For Perstorp, the deal widens its product portfolio and strengthens its position in Asia. The Swedish company will assume complete ownership of Lonza Singapore Pte Ltd, Jurong Island, once regulatory approval is received.
Swiss group Lonza says the deal, which is scheduled to close at the end of the year, enables it to focus on its life science operations.
PIA is used in the manufacture of performance coatings, unsaturated polyester resins and PET-bottle grade resins.
