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Emerald to Shed Chemical Plants

Monday, May 16, 2016

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A newly announced deal will result in DyStar LP and a subsidiary of China-based Sinochem acquiring several units and facilities from U.S.-based Emerald Performance Materials.

DyStar is set to buy three groups and five facilities from Emerald, then plans to sell portions, including its polymer additives group, to Jiangsu Sinorgchem.

Terms of the deal between Emerald and DyStar, the U.S. subsidiary of the Singapore-based DyStar Group, were not disclosed when the agreement was announced May 6. Emerald will sell its Emerald Specialties and Polymer Additives and Nitriles groups to Dystar.

DyStar in turn has announced plans to sell the Polymer Additives and Nitriles groups to Jiangsu Sinorgchem Technology Co., a subsidiary of the state-owned Chinese corporation Sinochem Group.

DyStar and Emerald representatives
DyStar Group

Emerald will sell its Emerald Specialties and Polymer Additives and Nitriles groups to DyStar.

The plants being sold to DyStar are Emerald’s Charlotte, NC; Cincinnati, OH; Cheyenne, WY; and Henry, IL, facilities, along with part of an Akron, OH, plant, which will be shared with Emerald. According to Jiangsu Sinorgchem, the Chinese company will then buy two of the plants.

It was unclear at press time which Emerald locations would be sold to Jiangsu Sinorgchem; DyStar representatives did not respond to Durability + Design’s request for comment before deadline. Jiangsu Sinorgchem notes in its press release on the deal that the two U.S. locations will be the company’s first; its manufacturing facilities currently are all in China.

About the Companies

DyStar Group operates in more than 50 countries. The company’s products include dyes, inks, pigments and chemicals, as well as effects and labels for the textile industry.

“This high quality acquisition will significantly strengthen DyStar’s position in the chemical industry, and we are uniquely positioned to take advantage of the new revenue growth and synergy opportunities,” said Ruan Weixiang, the Chairman of DyStar group.

Chemicals in flasks
© iStock.com / Antoine2K

DyStar's products include dyes, inks, pigments and chemicals, as well as effects and labels for the textile industry.

Jiangsu Sinorgchem does business in more than 50 countries, and has more than 1,500 employees.

“This acquisition will enhance our presence in North America and bring us closer to international customers. It reflects the commitment that Jiangsu Sinorgchem will continuously invest and develop in rubber chemical industry. We’re looking forward to welcoming Emerald’s team to our family,” said Qin Hengde, chairman of Jiangsu Sinorgchem.

Emerald Performance Materials, headquartered just outside Akron, in Cuyahoga Falls, OH, produces chemicals for food and industrial use. Its products include epoxy resins, foam control solutions and acrylonitrate emulsions.

   

Tagged categories: Acquisitions; Business matters; Business operations; Chemical Plants; Coatings raw materials manufacturers; Construction chemicals

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