Yule Catto buys Malaysian aqueous polymer producer

Yule Catto buys Malaysian aqueous polymer producer

10:18 PM, 17th October 2011
Yule Catto buys Malaysian aqueous polymer producer

HARLOW, UNITED KINGDOM: Yule Catto will acquire Quality Polymer Sdn Bhd (QP), a Malaysian aqueous polymer producer, for a consideration of £10M (cash and debt free). This acquisition will allow Yule Catto to expand its South East Asian production and sales of acrylic and vinylic polymer dispersions for adhesives, building products and coating sectors. QP employs 30 staff at its factory located close to Yule Catto’s existing plant in Pasir Gudang. The vendor is Nippon Paint Malaysia.

Quality Polymer has historic annual sales of some £10M.  It is expected that the acquisition will be earnings enhancing in financial year 2012. Following the acquisition, QP will operate as a subsidiary of Yule Catto, directly owned by the group’s 70 per cent subsidiary, Revertex Malaysia SB.

“Acquisition of QP supports our strategy of increasing sales into Asia and other developing economies. QP’s assets complement our existing plants in Malaysia and Vietnam, which are operating at or near to capacity,” said Adrian Whitfield, CEO, Yule Catto.

(C) WOC News




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