Speciality polymers company Kraton (Houston; Texas / USA; www.kraton.com
) said it has sold its Cariflex isoprene rubber latex business unit to petrochemical and engineering group Daelim (Seoul / South Korea; www.daelim.co.kr
) for USD 530m (EUR 478m). The deal is expected to close in the first quarter of 2020. Cariflexs pro-forma adjusted EBITDA for the fiscal year ending 31 December 2018 was USD 50.5m, with margins of more than 30%.
The US Company is planning for the sales proceeds to significantly strengthen its balance sheet and position it for future growth in its polymer and chemical businesses. Kraton said previously Cariflex has no revenue or cost overlaps with its polymer and chemicals segments see Plasteurope.com of 28.02.2019