Reichhold, Polynt completes merger; creates leader in specialty chemicals

Reichhold, Polynt completes merger; creates leader in speciality chemicals

9:54 AM, 20th May 2017
Reichhold, Polynt completes merger; creates leader in specialty chemicals
This combination enhances the group's leading position as a global, vertically-integrated speciality chemicals player.

GREENWICH, US: Reichhold Group and Polynt Group have completed the merger announced last year. The new Polynt-Reichhold (group) is a global company in the intermediates, coating and composite resins, thermoset compounds, gel-coats and niche specialities with more than €2 billion in revenues.

Black Diamond Capital Management LLC (Black Diamond) and Investindustrial are equal investors in the new group. Rosario Valido currently the president and CEO of Polynt, will lead the new group as its president and CEO.

This combination enhances the group's leading position as a global, vertically integrated speciality chemicals player, with a significant presence in North America, Europe, and Asia. The group's excellence in serving customers around the world will be further strengthened by the merger of best-in-class innovation and a customer oriented approach.

"We are pleased with the final outcome of this combination as it brings together two leading speciality chemical businesses with global footprints.  The combination provides the opportunity to capitalise on increased scale, complementary manufacturing and product development capabilities and significant synergies to compete successfully in the marketplace going forward," said Stephen Deckoff, managing principal, Black Diamond.

"We intend to quickly align the cultures within the combination to support our global leadership position, better serve our customers and create value for our shareholders," added Rosario Valido, President and CEO of the new Group.

"With 44 plants across the world, the company will be the closest to the local needs of its customers and the just-in-time suppliers of speciality chemicals in the geographies in which they have operations. Our aim is to grow our business together with our customers and to drive the quality of our products toward the highest expectations of the industry," added Rosario Valido.

© Worldofchemicals News

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