PolymerLatex might be for sale - reports

ERJ staff report (DS)

London -- A report in Bloomberg Business Week suggests that the owners of PolymerLatex are considering options for the future of the business.

Bloomberg said, "TowerBrook Capital Partners LP ... is seeking a buyer for a German latex producer generating almost 400 million euros ($506 million) in annual sales, three people with knowledge of the matter said."

The report said the private equity group is in the early stages of evaluating its strategic options with respect to PolymerLatex. It added that an initial outline sales document has been sent out, with the formal sale procedure due to begin later in the year.

PolymerLatex is the third largest latex producer in Europe, serving the paper, carpet and moulded foam, and specialties end-user markets. It makes primarily SBR and X-SBR latex. PolymerLatex has approximately 600 employees today, is headquartered with its main production facilities in Marl, Germany and maintains four other production facilities throughout Europe. Towerbrook bought the company in May 2003.

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Former Soros Unit TowerBrook Seeks PolymerLatex Buyer

Bloomberg Business Week (London)

Website of TowerBrook

Website of PolymerLatex