Material | January 15, 2008
Rohm and Haas to acquire OY Forcit
Rohm and Haas has signed an agreement to acquire the FINNDISP division of OY Forcit AB, a Finnish paint emulsions operation, for approximately €60 million.
Based in Hanko, Finland, this division of Forcit makes water-based emulsions used in the manufacture of paints and coatings, lacquers and adhesives in Northern Europe and the Commonwealth of Independent States (former Soviet Union). Rohm and Haas expects to complete the transaction by the end of the first quarter of 2008. Rohm and Haas said it expects to complete the transaction after obtaining all appropriate regulatory approvals. Luis Fernandez, Vice President and Group Business Director said, “This acquisition is a solid, firm and positive step forward toward helping Rohm and Haas achieve its Vision 2010 goals. We expect the FINNDISP division to contribute sales in the range of €40-50 million in 2008.” In November, Rohm and Haas outlined extensive plans to increase sales to more than $11 billion, in part through a sharper focus on its Paint and Coatings Materials business. The company’s Paint and Coatings Materials business is the supplier of materials used by the global coatings industry; no competitor can offer this range of technology, along with the capability to provide customized products in all four regions. It includes acrylic emulsion binders and additives for decorative architectural paints used by do-it-yourself consumers and professional contractors. Industrial materials serve as the foundation for industrial coatings, caulks and sealants, home insulation and floor care products.