26 Oct 2002
Acquisition gives Vyncolit an increased presence in USA
The Perstorp Group has announced its purchase of the Moldable Composites Division of Rogers Corporation, a US-based producer of high performance mouldable phenolic composites principally supplied to the automotive and electrical industries. The Moldable Composites Division has annual sales of approximately USD 35 million and about 150 employees.
The acquisition becomes part of Perstorp’s Engineering Materials Division and will be managed in combination with the division’s complementary business, Belgium-based subsidiary Vyncolit N.V., a leading supplier of reinforced engineering phenolic resins to the European automotive industry.
Addition of the new business substantially expands the company’s customer base in the USA, further strengthening the presence it has had there since the establishment of Vyncolit North America Inc., in 2000. “Importantly, this acquisition broadens our application areas, our product range and the materials knowledge-base that supports it,” says Henny van Dijk, President of Vyncolit N.V. “Together with increased production capacity and a larger team of professionals we will be able to provide customers in both the USA and Europe with an enhanced service.”
Automotive customers in the USA in particular will benefit from Vyncolit’s enlarged presence and the experience and support it brings to this global industry. Vyncolit® engineering phenolics have a proven fit in this sector, where they are able to replace metal in complex parts and components subjected to harsh operating environments.
Offering part integration, simplified production at lower cost and excellent mechanical properties, as well as weight savings unachievable with metals, Vyncolit engineering phenolics are the materials of choice in a wide range of advanced applications in under-bonnet cooling and fuel systems, brake components and power trains, among others.
Based on phenolic resins and reinforced with a variety of fibres, Vyncolit mouldable phenolic composites are characterised by their heat resistance, dimensional stability and impact performance, and by their ease of moulding into reproducible, high tolerance parts. This profile enables their specification in a broad range of industries, in addition to automotive, including electrical, gas and aviation, for parts in applications as diverse as domestic appliances and satellites.
Globally, customers are assisted with material solutions and application development by a dedicated team of technologists and state-of-the-art facilities at Vyncolit’s Technical Market Development Centre at the company’s headquarter site in Ghent, Belgium.
Vyncolit N.V., a specialist in the field of thermoset chemistry and a leading supplier of engineering phenolics, is the principal company in the Perstorp Group’s Engineering Materials Division.
Sydsvenska Kemi AB is the Parent Company of the Perstorp Group, an international specialty chemicals and engineering materials company based in Sweden, comprising the now integrated operations of Perstorp and Neste Oxo. The group has production centres in eight countries, in Europe, Asia and North America, employing some 2,100 personnel. In 2001, the Perstorp Group had sales of approximately SEK 7 billion (US$756 million). Sydsvenska Kemi is controlled by the Industri Kapital 2000 Fund.
Rogers Corporation, headquartered in Rogers, CT, USA, develops and manufactures high performance specialty materials focusing on the wireless communications and computer markets. The Corporation is a public company traded on the New York Stock Exchange and has annual sales of approximately USD 300 million.
The agreement with Rogers Corporation was signed by Vyncolit North America, Inc., which is a subsidiary company in the Perstorp Group. Under the terms of the agreement, it is expected that Rogers will receive a total amount of approximately USD 40 million, of which about USD 10 million will be paid on completion and the rest over a five year period.
Vyncolit® is a registered trademark of Vyncolit N.V., Belgium.
Reader enquiries
Vyncolit N.V.Nieuwevaart 51
B-9000 Gent
Belgium
Tel.: +32 (0)9 265.27.77
Fax: +32 (0)9 265.28.81
E-mail: vyncolit@sumitomobakelite.com
Web: www.vyncolit.com
Sumitomo Bakelite North America, Inc.
46820 Magellan Drive, Suite C
Novi, MI 48377
USA
Tel: +1 248 313 7000
Fax: +1 248 313 7027
