8 Dec 2011

German resin maker bought by Nuplex

12:27 pm on 8 December 2011

Nuplex Industries has received regulatory approval to buy a German resin maker for 75 million euro to help boost sluggish earnings.

The New Zealand resins and chemicals maker is buying Bayer's Viverso operations in Bitterfeld, whose resins are used in coating and putties.

It says the German Federal Cartel Office has approved the purchase.

Nuplex expects to complete the deal by the end of the month.