European Commission Conditionally Approves Proposed Acquisition of OMNOVA Solutions Inc.
BEACHWOOD, Ohio, Jan. 15, 2020 /PRNewswire/ -- OMNOVA Solutions Inc. (NYSE: OMN) announced today that its proposed acquisition by Synthomer plc has been approved by the European Commission, subject to Synthomer's divestiture of its small Germany-based vinyl pyridine latex business. Synthomer has received expressions of interest from a number of potential buyers.
Synthomer expects to receive the remaining regulatory approval for the acquisition from Turkey in early February. OMNOVA continues to expect the acquisition to be completed in early 2020.
About OMNOVA
OMNOVA Solutions Inc. is a global innovator of performance-enhancing chemistries and surfaces used in products for a variety of commercial, industrial and residential applications. As a strategic business-to-business supplier, OMNOVA provides The Science in Better Brands, with emulsion polymers, specialty chemicals, and functional and decorative surfaces that deliver critical performance attributes to top brand-name, end-use products sold around the world. OMNOVA's sales for the last twelve months ended August 30, 2019 were approximately $758 million. The Company has a global workforce of approximately 1,900. Visit OMNOVA Solutions on the internet at www.omnova.com.
About Synthomer
Synthomer is a top-five global supplier of emulsion and specialty polymers, producing innovative formulations to support customers in a range of industries, from construction through paints and coatings to healthcare. With headquarters in London, the Group operates 25 production sites, four global R&D centers and has sales in all geographies. Synthomer has a strong track record of organic growth and progress has been further underpinned by three bolt-on acquisitions since 2016. The Group has approximately 2,900 employees and reported FY 2018 revenues of £1.6 billion ($2.1 billion USD). www.synthomer.com
OMNOVA Solutions Inc.
CONTACT: Frank Esposito, Investor Relations, (216) 682-7003
Web Site: http://www.omnova.com
