Acrylic sheet leader Röhm has agreed to acquire Sabic’s Functional Forms business. This requires customary consultation with the respective Labor Board and approval of the antitrust authorities. With this, ROHM adds polycarbonate (PC) sheets and films to its existing range of acrylic (PMMA) sheets and films, further expanding its position as a value-added partner for its customers across a wide range of applications.
Röhm CEO Michael Pack said: “By adding the polycarbonate resin extrusion business to our portfolio, we will continue to strengthen the competitiveness of our sheet and film business. We will be a better business partner for our customers.”
Ronald Ayles, managing partner of Röhm owner Advent International, adds:
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|Röhm’s acquisition of the Sabic PC film and sheet business strengthens the company’s footprint in transportation applications such as automotive and aerospace.|
The Functional Foams business is a leading global manufacturer of a broad portfolio of PC film and sheet products, primarily marketed under the globally recognized Lexan brand. Functional Forms employs approximately 700 people, operates in 19 countries and has an extensive global presence through various production sites strategically located on all continents.
The newly combined business has a turnover of over €700 million, commands a strong global operational footprint across 14 production sites and benefits from similar but complementary activities in different markets will get Both Röhm and Sabic’s Functional Forms businesses manufacture high-quality sheet and film products used in a variety of industries, from building and construction, consumer electronics, medical to aeronautics.
This acquisition is an important cornerstone of Röhm’s strategy to develop its transparent semi-finished products business into one of the world’s leading multi-polymer companies. His strong Lexan brand is an ideal complement to his acrylic glass brand Plexiglas (sold in the Americas). under the registered trademark Acrylite).
Consultations with the relevant works councils and trade unions in Europe are expected to be completed in the coming months. Subject to regulatory approvals and completion of the carve-out of the business from Sabic’s remaining operations, the transaction is expected to close in the first half of 2024.