Cognis and Nuplex close deal on G-Cure acrylic polyol resins business
Cognis and Nuplex have signed a deal in which Nuplex acquires the G-Cure® business from Cognis. No fixed assets are included. The deal is in line with each company's focus on their core businesses. The G-Cure® product line was part of the Functional Products business unit of Cognis. Mainly focused on the NAFTA region, the G-Cure® business generated net sales of approximately USD 13 million in 2006.
The business consists of acrylic polyol-based resins for the industrial coatings industry. G-Cure® products are sold primarily into the heavy- and light-duty industrial maintenance and automotive refinish markets. G-Cure® shows best-in-class performance and light-stability for high solids systems.
"As this business is not key to the Cognis strategy and has limited synergies with our other coatings activities, we feel that Nuplex is better positioned to realize its growth prospects," says Chris Toomey, Vice President Functional Products for NAFTA, in explaining the decision of Cognis. "We will now work closely with Nuplex to ensure a smooth transfer of the business operations."
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