ATLANTA–(BUSINESS WIRE)–Bakelite Synthetics announced today that it has entered into a definitive agreement to purchase and acquire LRBG Chemicals, Inc., a Canadian resin manufacturer and developer, with facilities in Longueuil (Montreal) Quebec.
With the completion of this acquisition, Bakelite Synthetics adds to its strong portfolio of products and customers, as well as builds on its growth strategy of sustainably delivering innovative solutions to customers. LRBG Chemicals manufactures high-quality resins and derivative products that are used in a wide variety of applications serving the building and construction, transportation, industrial and chemical intermediate markets worldwide. Its plants, knowledge and experience have been developed over the last 80 years and it has a customer-driven research and development focus with strong technical knowledge and support, closely aligned to Bakelite Synthetics business model.
“This acquisition allows Bakelite to expand its footprint into Canada and to better serve the northeastern regions of Canada and the U.S.,” said JP Aucoin, President and Chief Executive Officer of Bakelite Synthetics. “We look forward to welcoming LRBG Chemicals’ associates to Bakelite Synthetics, with its rich history of customized product development and customer service, as we seek to expand our combined businesses.”
Headquartered in Atlanta, Georgia, the combined company consists of approximately 1,500 associates and 21 manufacturing sites operating in 12 countries.
The transaction is expected to close in August, subject to customary regulatory approvals and other closing conditions.
About Bakelite Synthetics
Based in Atlanta, Georgia, Bakelite Synthetics is a leading global integrated producer of thermoset specialty resins, solutions and engineered thermoset molding compounds serving a variety of segments and end markets across geographies. Additional information about Bakelite Synthetics and its products is available at www.bakelite.com.
Contacts
John Branham
(404) 749-2516
john.branham@bakelite.com
