Acrylic sheet leader Röhm has agreed to acquire Sabic’s Functional Forms business, subject to customary consultations with the respective works council and approval from antitrust authorities. Röhm will therefore add polycarbonate (PC) sheets and films to its existing range of acrylic (PMMA) sheets and films, further expanding its position as a value-added partner for customers in a wide range of applications.
“We are delighted to have found a strong partner with whom we can grow together,” explains Röhm CEO Michael Pack. “By adding polycarbonate resin extrusion to our portfolio, we will continue to strengthen our competitiveness in the sheet and film business. With our combined capabilities in sales and material, product and application development, we will be Customers are better business partners.”
Ronald Ayles, Managing Partner of Advent International, owner of Röhm, added: “This is a unique opportunity for Röhm to establish a global leader in this attractive field and we are delighted to support our portfolio companies in the execution of this transformative acquisition .”
image courtesy of odelo
|Röhm’s acquisition of Sabic’s PC film and sheet business will strengthen the company’s footprint in transportation applications such as automotive and aerospace.|
The Functional Forms business is a leading global manufacturer of a broad portfolio of PC films and sheets marketed primarily under the globally recognized Lexan brand. Functional Forms employs approximately 700 people worldwide and operates in 19 countries through a variety of production sites strategically located on every continent.
The new combined business will have sales in excess of EUR 700 million, have a strong global operating footprint across 14 production sites and benefit from its complementary activities in similar but different markets. Both Röhm and Sabic’s Functional Forms business produce high-quality sheet and film products that are used in a variety of industries, from building and construction, consumer electronics, medical to aerospace.
The acquisition is an important cornerstone in Röhm’s strategy to develop its transparent semi-finished products business into a leading global multipolymer company.Strong Lexan brand is an ideal complement to the acrylic glass brand Plexiglas (sold in the Americas) under the registered trademark Acrylite).
Consultations with applicable European works councils and unions are expected to be finalized in the coming months. The transaction is expected to close in the first half of 2024, subject to regulatory approval and completion of the divestiture of the remaining Sabic businesses.