SURTECO GROUP SE has announced the closing of the purchase contract dated 13 December 2022 for acquisition of the OMNOVA "laminates and performance films and coated fabrics" division from Synthomer PLC.

 

The divisions specialize in the production and sale of laminates, foils and vinyl-coated fabrics at locations in the United States and Thailand. This takeover was an important step to move forward the company's focused corporate strategy of internationalization. The product offering in the U.S complements SURTECO´s existing laminates, foils and edgebanding business in North America, while vinyl-coated fabrics establish a foothold for increased diversification of markets and products.

 

The business will operate out of offices and facilities in Ohio, Pennsylvania, North Carolina, South Carolina, Mississippi, Ontario, Canada and Rayong, Thailand.

 

Turnover in North America is expected to exceed 300 million U.S. dollars on a full year basis and total worldwide turnover will exceed 1 billion euro for the SURTECO group of companies on a full year basis.

 

"This acquisition will strengthen our position in the market for decorative surfaces in North America and it represents an important step for sustainable development of the SURTECO Group. I should like to give our new employees a very warm welcome to SURTECO. My thanks also go to the project team including our US based CEO and CFO, Mike Phillips and Gudrun Pechtold and in particular to Larry Schorr. His wide-ranging experience and his commitment were a key factor for successful conclusion of the contract," commented Wolfgang Moyses, Chairman of the Management Board of SURTECO GROUP SE.