ERJ staff report (DS)
Shanghai, China -- Omnova Solutions has formally opened a rubber chemicals plant at the Shanghai Chemical Industry Park (SCIP) in Caojing, China. The plant, which is part of a recent acquisition of Eliokemmakes Pliocord vinyl pyridine latex used in tyres, hoses and other reinforced rubber applications for the fast-growing Asia-Pacific markets. Omnova ia also evaluating the manufacture at the site, of GenTac vinyl pyridine latex and other other specialty latices based on innovative styrene butadiene and acrylic emulsion polymerisation technologies .
Separately, in releasing figures for the first quarter of 2011, Omnova Solutions commented on its acquisition of Eliokem.
Omnova said, "In December 9, 2010, the Company successfully completed the acquisition of ELIOKEM, a global specialty chemicals manufacturer with sales of $288 million and adjusted earnings before interest, taxes, depreciation and amortisation (Adjusted EBITDA) of approximately $50.9 million for the twelve months ended November 30, 2010. The Company paid approximately $300 million for the business. "
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Press release (Caojing plant) from Omnova
Press release (Q1 results) from Omnova