Wednesday, August 30, 2023
Bakelite Synthetics one of the leading global integrated producers of thermoset specialty resins, solutions, and engineered thermoset molding components decided to further spread its business through fresh acquisition. The company has agreed to sign an agreement to purchase and acquire LRBG Chemicals, Inc., a Canadian resin manufacturer and developer, with facilities in Longueuil (Montreal) Quebec. Headquartered in Atlanta, Georgia, the combined company consists of 1,500 associates and 21 manufacturing sites operating in 12 countries.
The completion of this particular acquisition, Bakelite Synthetics adds to its strong portfolio of products and customers, as well as builds on its growth strategy of sustainably delivering innovative solutions to customers. LRBG Chemicals manufactures high-quality resins and derivative products are used in a wide variety of applications. These mainly serve the building and construction, transportation, industrial, and chemical intermediate markets worldwide. Its plants, knowledge, and experience have been developed over the last 80 years and it has a support, closely aligned to Bakelite Synthetics business model.
This particular transaction is expected to close in August, though it is subject to customary regulatory approvals and other closing conditions. The fresh acquisition will further encourage the spread of Bakelite’s footprints into Canada to better serve the northeastern regions of Canada and the U.S. Expressing his high hopes JP Aucoin, President and Chief Executive Officer of Bakelite Synthetics said, “We look forward to welcoming LRBG Chemicals’ associates to Bakelite Synthetics, with its rich history of customized product development and customer service, as we seek to expand our combined businesses.”
Tags: Bakelite Synthetics, wood, wood and panel, woodworking, woodworking and manufacturing, woodworking industry, woodworking USA
