M&As: Stavian Chemical acquires Turkish distributor Core Polymer; Kuraray acquires US start-up firm Nelumbo
Vietnam-based resin makerStavian Chemical has acquired Core Polymer, a polymer distributor based in Türkey. Terms were not disclosed.
This strategic acquisition is a significant milestone in Stavian Chemical's expansion efforts, enhancing its global presence and strengthening its position in the plastics industry, it added.
Tony Dinh Duc Thang, Chairman/CEO of Stavian Chemical, said that Core Polymer's expertise and strong market presence in Türkey will complement Stavian’s operations.
By combining Stavian Chemical's extensive distribution network with Core Polymer's strong market presence in Turkey, the company says it will be better positioned to meet the growing demand for polymers across various industries, not only in Turkey but also in the EU and Middle East markets.
The acquisition will also enhance Stavian Chemical's ability to provide a more diverse product portfolio, including environmentally friendly solutions such as recycled and bio-resins, it added.
The global chemical distribution market is projected to reach US$449.36 billion by 2031, growing at a CAGR of 6.3%. Stavian Chemical says its strategic expansion through acquisitions like this one positions the company to capitalise on this growth,driving innovation and sustainability in the industry.
In other news, Japan’s Kuraray Co has decided to acquire US-based start-up Nelumbo Inc, a company with materials technology for surface modification. The purchase price has not been disclosed.
Nelumbo was founded in 2016 as a technology start-up out of University of California, Berkeley and has been exploring the application and practical use of various substrate surface modification technologies. In 2023, Kuraray entered into an exclusive partnership agreement with Nelumbo and have been working together to apply the surface modification technology to fibres and other polymer products.
Through this collaboration, Kuraray says it evaluated Nelumbo’s technology and concluded that it has excellent potential to improve the functionality of substrate surfaces on a wide range of substrates, including water repellency, without using PFAs and other chemicals that are increasingly regulated.
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