Synthomer Sells Leuna Site to Alberdingk Boley
Synthomer plc has announced that it has sold its Leuna site in Germany to Alberdingk Boley Gmbh for an undisclosed price. According to Synthomer, the site will continue to manufacture products for Synthomer for an initial period before transferring the manufacture of product to the remaining Synthomer network.
The Leuna site was acquired as part of the Hexion PAC acquisition in 2016. The ongoing operational savings related to the sale of the site form the final part of Synthomer’s $12 million synergy target relating to that acquisition, the company stated. The sale will reportedly conclude the integration of Hexion PAC into the Synthomer Group.