(March 28, 2013) Helsinki, Finland – Dynea Chemicals Oy has today completed the sale of shares of Dynea Holding GmbH, Dynea Austria GmbH and Krems Chemie Service GmbH to Arirang Holdings Ltd, a Cyprus company.
Dynea Austria produces mainly amino resins for composite boards, decorative surfaces and plywood. The company will continue to toll manufacture resins for other Dynea entities. Dynea Australia has a turnover in 2012 of EUR 144 million and currently employs 119 persons.
The sale of the Austrian operations is in line with Dynea’s strategy to concentrate its resources around its phenolic resin activities.
Millington Advisory Partners acted as financial advisor to Dynea in relation to the transaction.
For more information please contact:
Hans Pettersson, President and CEO, Dynea
Telephone +358 10 585 2064
Dynea in brief
Dynea is an international provider of superior adhesion and surfacing solutions is owned by the IK Funds advised by IK Investment Partners, a leading European private equity company. Today, Dynea has 12 plants in 10 countries in Europe. For further information on Dynea: www.dynea.com