Swedish speciality chemicals company Perstorp (Perstorp; www.perstorp.com) has agreed to acquire Polialcoli from Italian chemical firm Polioli (Milan; www.polioli.com) for an undisclosed sum. The transaction is expected to close on 31 August, but could be later depending on when the necessary procedures are completed.

The purchase includes production of neopentyl glycol (NPG), trimethylolpropane (TMP) and trimethylolpropane diallyl ether (TMPDE) as well as the associated formate businesses at the site in Vercelli / Italy. The deal also includes technology, know-how and equipment. All of Polialcoli’s 74 employees will transfer to Perstorp.

Commenting on the sale, Polioli CEO Federico Ferlin said, "Polioli has been under receivership for the last four years. We have seen a potential in these products but it has proven increasingly difficult to run these product lines in smaller scale plants. In order to be successful we have come to the conclusion that it makes more sense to operate these assets through a larger company with global reach. It was therefore natural for us to approach Perstorp."

Perstorp’s president and CEO, Jan Secher, added that TMP and NPG are key products in its core polyols portfolio and the additional product lines will expand its position to be able to serve strong demand from the market. Perstorp also produces TMP in Sweden, the US and China and NPG in Sweden and China.