“Metafrax” purchases a chemical plant of “Dynea Austria GmbH”
Chemical division of "Metafrax" group now includes JSC "Metafrax" (Gubakha, Perm Krai), "Metadynea" company (Perm Krai and Moscow Region) and "Dynea Austria GmbH".
"Metafrax" is concluding a deal for the purchase of a 100% share of "Dynea Austria GmbH" (Krems, Austria), which specializes in formaldehyde and synthetic resin production. On the 24th of June a permission of Austrian anti-monopoly service was given for the plant purchase. The deal will be closed in a couple of days.
"Dynea Austria" produces synthetic resins used in construction boards, plywood and decorative coatings. In 2012 revenue of the company amounted at 144 million EUR.
Plant capacity is 350,000 tonnes per year for resins and 140,000 tonnes per year for formaldehyde. We are planning to introduce a development program for our new plant until November. The plant is going to merge with our affiliated company "Metadynea" in future.
- This deal leads to an increase in total capacity of our resin plants, which is 700,000 tonnes per year now, - said General Director of JSC "Metafrax" Vladimir Daut, - Thus "Metafrax" becomes the biggest producer of synthetic resins in Europe.
The purchase will allow us to increase our distribution area and internal usage of products.
- We expect this deal to have a synergetic impact, - said Armen Garslyan, Chairman of the Board of "Metafrax". - We have plans to develop the technologies used in Krems and introduce them in Europe, where market is strong, and in Russia, where it is rapidly growing.
After all the formalities are settled, the company will be renamed as "Metadynea Austria". Ralph Theuer, former top-manager of "Dynea" group, was assigned to the position of General Director.
- Our company was founded in 1948, and we have 55 years of experience in production of synthetic resins, - said Mr. Theuer. - Annual revenue of the plant with about 120 employees is 145 million EUR. We found our activity on four principles - investments, innovations, quality and income.
The expansion of our business should also attract additional investments in regional economy.
- "Metafrax" is actively doing business not only in Russia, but also in Europe, - said Guennadiy Tushnolobov, Chairman of the Government of Perm Krai. - Thanks to successful activity of "Metafrax" Government of the Krai is negotiating with large international resin producers about investments in our region. There is a possibility that in summer contracts will be signed with investors for the region's development. "Metafrax" is one of the core companies for the Krai's industry and one of the top 10 taxpayers.
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Previously "Metafrax" and "Dynea Chemicals Oy" cooperated in production of synthetic resins and formaldehyde in Russia. In 2003 two joint ventures were established - "Metadynea" and "Karbodyn". In 2012 "Metafrax" bought its partner's share and consolidated assets.