Prefere Resins to Buy Ineos’ Melamines and Paraform Businesses
29th April 2019
Ineos is selling its melamines & paraform businesses to Prefere Resins for an undisclosed sum. The transaction is expected to complete during the second quarter of this year, subject to regulatory approval.
Headquartered in Erkner, Germany, Prefere Resins produces and sells phenolic and specialty amino resins, which are used as binders in the construction, insulation and industrial sectors. The company, which was built through acquiring plants owned by Neste and Perstorp in 2000, is majority-owned by pan-European private equity company Silverfleet Capital.
Arno Knebelkamp, CEO of Prefere Resins Holding, said the acquisition is a key step towards its strategic plan to grow the business and become a global resin producer.
The company operates sites in Finland, Germany, UK, France, Poland and Romania, producing around 350,000 t/y of resins. It also has three R&D sites in Germany, Austria and Finland.
Employing around 150 people at sites in Frankfurt, Germany; Springfield, Massachusetts, USA; and Surabaya, Indonesia, Ineos Melamines supplies melamine resins into the coatings, paper, textile, tire, rubber and decorative laminate industries. Ineos Paraform, Europe’s second largest producer of paraformaldehyde, employs around 120 people at its facility in Mainz, Germany.
“The deal represents a strong strategic fit with Prefere Resins and is a great opportunity to realize the true potential of these businesses, helping to secure their future development and growth,” said Ashley Reed, CEO of Ineos Enterprises.
Photo: © Prefere Resins
Prefere Resins produces and sells phenolic and specialty amino resins and expands its product offering as well as its global presence by taking over the melamines & paraform businesses of Ineos.
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