SLOVAK chemical producer Chemko, in Strážske, sold its pentaerythritol (Penta) and calcium formate businesses to the Swedish Perstorp Group for an undisclosed sum, the TASR newswire wrote on June 5. Chemko will use the money from the sale to finance new projects which it will announce later.
The transaction is part of Perstorp’s ambitious investment plan to increase polyol capacity, the company informed on its website. The deal includes the acquisition of the Penta and calcium formate businesses, related technology and certain assets. It does not include the manufacturing plant in Strážske, any real estate or employees.
“Penta is a core business area within Perstorp and these products have been key in the development of Perstorp as an international company,” Perstorp President and CEO Jan Secher said, as cited on Perstorp’s website. “This acquisition is an opportunity to increase efficiency, expand output and further grow together with our customers.”
The polyalcohol Penta is used in applications such as alkyd resins, PVC stabilizers, synthetic lubricants, varnishes, and other products.
