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January 04, 2016 01:00 AM

Kraton to complete Arizona Chemical deal

Rubber & Plastics News Report
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    HOUSTON—Kraton Performance Polymers Inc. will close its acquisition of Arizona Chemical Co. in early January.

    Kraton previously agreed to acquire Arizona Chemical for $1.37 billion and it said expects the cost to stay consistent with those projections.

    Arizona Chemical is a global producer of performance products and specialty chemicals derived from non-hydrocarbon, renewable raw materials.

    The company said at the time the deal was announced that the combined business projects to save about $65 million in overlapping costs, expected to be achieved by 2018. However, it said there are no plans to reduce Arizona's product portfolio or employee base, which sits at nine manufacturing sites in the U.S. and Europe with technical centers in Savannah, Ga.; Almere, Netherlands; and Shanghai. The firm employs more than 1,000 worldwide.

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