New Zealand based Nuplex Industries, via its wholly owned Australian subsidiary Nuplex Operations (Aust) Pty. Ltd. have made a US$25million take over bid for Australian, Asian Pacific Specialty Chemicals (APSC). Nuplex’s bid of A$0.70 per share exceeds a recent bid by Symex Holdings for APSC of A$0.65 per share.
The move is consistent with Nuplex’s aim, which is to become the largest manufacturer in the Australasian region for resins for coatings, adhesives, composites and paper, as well as distributor of other functional chemicals.
The acquisition of APSC by Nuplex will provide the following opportunities:
- Exploitation of new technologies and business segments
- The performance chemicals sector will become more efficient due to economies of scale benefits
- Nuplex will be able to maintain an internationally competitive cost position
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