11 Jan 2022
Perstorp further strengthens its specialty position within resins and coatings through acquisition of Di-Methylolpropionic Acid business from GEO
Malmö January 11, 2022 - Perstorp has acquired GEO’s Di-Methylolpropionic Acid [DMPA®] business, further emphasizing its commitment as the sustainable specialty solution provider within the resins and coatings segment.
This acquisition further accentuates the company’s strategic presence in Polyurethane and Alkyds dispersions - a vital step to becoming a specialty leader in various waterborne coating markets. The acquisition significantly bolsters Perstorp’s position within the Di-Methylpropionic acid platform, allowing further investments into innovation and additional capacities over time. Perstorp’s strategy is to support its customers and wider society by driving the shift towards renewable raw materials and sustainable technologies. This acquisition serves both of these dimensions.
“Our strategy is to be the sustainable solutions provider within our focus segments, of which resins and coatings is one. Additives for waterborne resins and coatings technologies are a key area for future growth, and we see great potential in the market for Bis-MPA™ together with the acquired DMPA. This acquisition will both allow further development of our offering and enable long term investments to safeguard future availability,” says Jan Secher, President and CEO of Perstorp Group.
Bis-MPA has represented a key building block in Perstorp’s offering over the past 20-plus years. The product enables a technology shift from solvent to waterborne formulations within markets such as Polyurethane dispersions, PUDs, and waterborne Alkyds.
As of January 2022, Perstorp resumes control of GEO’s DMPA business. GEO will continue to produce DMPA exclusively for Perstorp in Allentown, Pennsylvania. Perstorp and GEO are jointly committed to ensuring a smooth business transition process, focusing on security of supply and service.
CPS Performance Materials, the parent company of GEO, is a diverse specialty chemical company with businesses serving multiple end markets including pharmaceuticals, nutrition, specialty coatings and dispersants used in a broad range of applications.
“We are excited to have found a partner in Perstorp who is committed to support the growing demand for DMPA. CPS will continue to focus on building our core businesses and this transaction enables us to streamline our portfolio as we invest in a number of capacity and product expansions throughout the company,” says Jeremy Steinfink, CEO of CPS Performance Materials.
To download the full Perstorp 2020 Annual Report, please click here.
Bis-MPA™ and DMPA® are Trademarks of Perstorp Holding AB.
Perstorp Holding AB
SE-211 20 Malmö
Notes for editors
Perstorp believes in improving everyday life – making it safer, more convenient and more environmentally sound for billions of people all over the world. As a world leading specialty chemicals company, our innovations provide essential properties for products used every day and everywhere. You’ll find us all the way from your car and mobile phone to towering wind turbines and the local dairy farm. Simply put, we work to make good products even better, with a clear sustainability agenda.
Founded in Sweden in 1881, Perstorp’s focused innovation builds on 140 years of experience, representing a complete chain of solutions in organic chemistry, process technology and application development. Perstorp has approximately 1,350 employees and manufacturing units in Asia, Europe and North America. Net sales in 2020 amounted to 9.2 billion SEK.
Learn more at www.perstorp.com.