Sydsvenska Kemi AB (SSK), the parent company of Perstorp Group, today announces the sale of Perstorp Compounds AB, Perstorp Chemitec S.p.A. and Perstorp Compounds Inc. (together “Perstorp Compounds”), to Raytor Holding AB (“Raytor Holding”) and an associated company.
The CEO and major shareholder of Raytor Holding is Anders Lundin. As a result of the transaction Mr. Lundin will leave his position as President of the Materials Technology Division of Perstorp. The divestment is in line with Perstorp’s strategy to focus on its core business, specialty chemicals.
Perstorp Compounds is active in moldable thermoset compounds and provides its products mainly to the electrical and sanitary ware industries. The business, which has facilities in Perstorp (Sweden), Florence, Massachusetts (USA) and Castellanza (Italy), has a turnover of approximately SEK 350 million and employs some 200 people.
Lennart Holm, President and CEO of Perstorp AB, commented: “The sale of Perstorp Compounds represents another step in Perstorp’s strategy to focus on our specialty chemicals businesses. We believe that Perstorp Compounds will benefit from focused, independent ownership and we look forward to working with Perstorp Compounds as a business partner”.
Anders Lundin, CEO of Raytor Holding AB, commented: “Raytor is delighted to have reached agreement to acquire Perstorp Compounds. The company’s strong balance sheet will enable it to improve its competitive position going forward. I believe that there is an exciting opportunity to develop the business in the interests of its owners, employees and business partners and look forward to running the business in the future”.