Swedish specialty chemicals company Perstorp has acquired Lonza’s manufacturing plant for Purified Isophthalic Acid (PIA) in Singapore for $138m.
The Swedish company will assume complete ownership of Lonza Singapore Pte Ltd, Jurong Island, once regulatory approval is received.For Perstorp, the deal widens its product portfolio and strengthens its position in Asia.
PIA is used in the manufacture of performance coatings, unsaturated polyester resins and PET-bottle grade resins.
