Polynt and Reichhold to combine businesses

“This compelling deal is expected to result in significant synergy opportunities and will enable our combined businesses to be more competitive, offer better services and more innovative solutions to our customers.  It will allow us to respond more effectively to evolving industry dynamics and customer needs.  With increased scale and product diversity, we can deploy a larger portfolio of products and provide more comprehensive offerings to benefit our collective customers.  This combination brings together two strong businesses and positions us to succeed in a dynamic and highly competitive global marketplace,” said John S Gaither, president and CEO, Reichhold.

“Our aim to better serve our stakeholders and customers will be further strengthened by the combination of two industry leaders, historically devoted to innovation and customer orientation. Our people are always committed to improve their performance and knowledge for the benefit and growth of our industry. We welcome the opportunity to leverage the potential of the new group,” commented Rosario Valido, president and CEO of Polynt.

Polynt Group is one of the world’s largest manufacturers of specialties, intermediates and composites while Reichhold is one of the world’s largest manufacturers of unsaturated polyester resins. The transaction is expected to be completed in the second half of 2016. (NA)

Fibre2fashion News Desk - India