Charlotte-based DyStar LP, a subsidiary of Singapore-based DyStar Global Holdings (Singapore) Pte. Ltd., has entered into an agreement with Cuyahoga Falls, Ohio-based Emerald Performance Materials LLC to acquire its Specialties, Polymer Additives and Nitriles specialty chemical units. In a secondary, separate transaction, DyStar will sell the Polymer Additives and Nitriles units to China-based Jiangsu Sinochem Technology Co. Ltd., a subsidiary of Sinochem Group. DyStar will retain the Specialties unit, which adds three new manufacturing sites to DyStar’s U.S. business.
“We are enthusiastic about the growth that the combination will foster,” said Ruan Weixiang, the Chairman of DyStar group. “This high quality acquisition will significantly strengthen DyStar’s position in the chemical industry and we are uniquely positioned to take advantage of the new revenue growth and synergy opportunities.”