Rohm and Haas has signed an agreement to acquire the Finndisp division of Forcit for approximately €60m.
Based in Hanko, Finland, the division of Forcit makes water-based emulsions used in the manufacture of paints and coatings, lacquers and adhesives which it markets in northern Europe and the former Soviet Union.
As part of the deal, Rohm and Haas will acquire two manufacturing sites – an existing facility in Hanko, and a plant currently under construction near Moscow in Russia that is expected to be completed in March 2008.
Rohm and Haas expects to complete the transaction by the end of the first quarter of 2008 after obtaining all appropriate regulatory approvals, and expects the acquisition to produce €40-50m in sales this year.
In November last year, Rohm and Haas outlined extensive plans to increase its sales to more than $11bn, in part through a sharper focus on its paint and coatings materials business.