Cognis, a global specialty chemicals producer based in Monheim, Germany, announced an agreement to sell its UV acrylates business to IGM Resins B.V., based in Waalwijk, The Netherlands.
The UV acrylates business is part of Cognis’ Functional Products strategic business unit. The sale is expected to be formally completed by June 2010.
The UV acrylates business manufactures monomers and oligomers for UV applications marketed under the Photomer brand name. Applications of the materials include UV-cure coatings, adhesives, and ink.
The proposed sale includes trademarks, intellectual property, inventory, and the UV acrylates business’s Charlotte, N.C., manufacturing site. The manufacturing employees at the site will be transferred to the new owner, along with several employees in the U.S., France, and Asia. Cognis said the sale reflects a strategy to focus on core businesses and product groups supporting the wellness and sustainability market trends.
John Huiberts, CEO of IGM Resins, said the acquisition “complements and strengthens IGM Resins’ position as a fully integrated, leading supplier of raw materials to the radiation-curing industry globally, and is a significant boost for our business.” He said IGM Resins plans “to further develop and strengthen” the business’s market position.
IGM Resins, founded in 1999, is a global specialty chemicals company focusing on UV- and radiation-curing markets. The company has offices and production facilities in several European countries, the U.S., South America, and China.