April 19, 2016
FOR IMMEDIATE RELEASE
WILMINGTON, Del. — Solenis LLC today announced that it has signed an agreement to acquire the shares in Lostris International B.V. and Wester Blend B.V., privately-held companies primarily focused on supplying specialty chemicals to the pulp and tissue and towel markets. The transaction is expected to close in the second quarter 2016, following receipt of customary regulatory approvals in Germany.
"Lostris' and Wester Blend's capabilities complement the current Solenis offerings in the global pulp, and tissue and towel markets," said John Panichella, president and CEO, Solenis. "In addition to a strong channel-to-market, Lostris produces unique defoamer formulations, pitch dispersants, and scale control chemistries for the pulp market. It also provides complementary crepe and release products that will further bolster our tissue and towel product range."
"This is another excellent example of Solenis' commitment to invest in the pulp and paper industry," stated Charles Robinson, senior vice president, Solenis.
"We are delighted to work together with the leading supplier of specialty chemicals to the pulp and paper industry to ensure a smooth transition for our customers," stated Eelco van 't Hoog, Lostris International's and Wester Blend's president. "By joining together in a shared commitment to solve problems for our customers the collective strengths of the companies will generate enormous opportunities for exciting new products and growth."
FOR FURTHER INFORMATION
Vice President, Corporate Communications