Bayer and Degussa sell PolymerLatex to Soros Private Equity Partners
In fiscal 2001, PolymerLatex generated sales of 344 million euros with about 730 employees. The joint venture, which was founded in 1996 by Degussa and Bayer, produces latex products in the paper, carpet/moulded foam and speciality applications fields, and holds a leading position among latex suppliers. PolymerLatex has been able to expand its leading market position even further over the past few years thanks to significant investments in its five European production sites, and continuous development of customized products.
Soros Private Equity Partners ("Soros") is a global private equity investor which, together with its affiliates, currently manages in excess of US-Dollar 4 billion of equity capital. Soros has announced that it intends to develop PolymerLatex's operations in the coming years and will consider possible add-on-acquisitions to consolidate its market share.
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