ERJ staff report (DS)
London - In a brief statement to the London Stock Exchange, Yule Catto & Co plc said it has completed the acquisition of PolymerLatex Deutschland Beteiligungsgesellschaft mbH ("PolymerLatex"). PolymerLatex was sold by Towerbrook CapitalPartners. The deal was first announced in December 2010.
Andrew Lanham, business development director of Yule Catto said in a separate statement, "This acquisition brings Synthomer & PolymerLatex under the same ownership and creates an emulsion polymers group with a combined turnover in excess of Â£1 billion. Yule Catto has named Derick Whyte as CEO of the combined business operations, which employ 1,900 people working across 18 production sites, R&D laboratories and sales offices globally.
Derick Whyte commented â€œI believe this will ensure that the 'new' Synthomer will be the partner of choice for customers across the globe and we very much look forward to serving them.â€
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Press release from Yule Catto