TAIPEI, Taiwan (Dec. 27, 2010)—Taiwanese synthetic rubber producer TSRC Corp. has announced it will buy U.S.-based thermoplastic elastomers maker Dexco Polymers L.P. from the partners that own the venture, ExxonMobil Chemical Co. and Dow Chemical Co.
TSRC will pay $168 million for the company, according to a number of reports in the Asian press.
Dexco Polymers produces SIS and SBS thermoplastic elastomers at its plant in Plaquemine, La.
TSRC said the acquisition will help it to upgrade its technology, provide its customers a wider array of products and diversify its customer base throughout the Americas, Asia and Europe.
The deal still requires regulatory approve in the U.S. and Taiwan, which is expected to happen by the second quarter of 2011.
TSRC, formerly was known as Taiwan Synthetic Rubber Corp., produces SBR and polybutadiene rubber. Its SBR is used in passenger tiers, shoe soles, conveyor belts, tank and tractor tracks and other products. The firm also makes Taipol TPE for adhesives, industrial compounds and shoes.