Dynea divests North American operations to strengthen position in developing markets

23-Nov-2006

Dynea announced the divestment of its North American operations to Teachers' Private Capital, which is the private investment arm of the Ontario Teachers' Pension Plan. According to the company, Dynea North America is one of the three major producers of resins and overlays products to the industry in the region.

The divestment of operations in North America shall allow Dynea to focus on growing markets in Eastern Europe and Asia Pacific and to further strengthen its market position in these areas. Dynea's operations in North America include 13 production units with approximately 700 employees in Canada, the United States and Mexico, and annual sales of more than EUR 450 million.

"This transaction will also give us resources for expansion in our key growth areas. With operations in 23 countries, Dynea will continue to help its customers grow by providing value through our leading resins and overlays technology world-wide," says Filip Frankenhaeuser, Executive Vice President and CFO.

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