LONDON—Synthomer P.L.C. has completed its previously announced $1 billion (€860 million) acquisition of Eastman's Adhesive Resins business, the London group has announced.
Following the closure of the deal on April 1, Synthomer has formed a new Adhesive Technologies Division within the group.
The acquisition, Synthomer said in an April 1 news release, creates a $3.5 billion enterprise and allows the group to enhance its portfolio and geographic growth alongside the diversification of its portfolio.
The acquired business develops, manufactures and sells tackifying resins and additives for adhesive products, and its operations consist of two business lines: hydrocarbon resins and non-hydrocarbon resins.