By: Frank Esposito
February 1, 2013
MOUNT LAUREL, N.J. -- PMC Group has made its second plastic additives acquisition in the last five months.
This time, PMC -- a plastics and specialty chemicals maker based in Mount Laurel, N.J. -- has bought a global methyl tin stabilizer and solid lubricant business from Dow Chemical Co. for an undisclosed price.
The deal includes organic polymer stabilizers and polymer lubricants sold under the Advastab, Advalube, Advawax and Advapak trade names.
The purchase also includes a world-scale manufacturing plant in Cincinnati. That plant employs 65 workers.
"This acquisition broadens our technology and product offering and underscores our commitment to be an innovative leader in the polymer additives industry," PMC President Debtosh Chakrabarti said in a Feb. 1 news release.
In October, PMC had acquired a line of polymer stabilizers, catalysts and fine chemicals from Arkema SA. That deal included a plant in Carrollton, Ky., and part of a plant in Mobila, Ala.
For Midland, Mich.-based Dow, the sale "aligns to Dow's recently announced restructuring program designed to accelerate cost-reduction actions and advance the company to the next stage of its transformation," a Dow representative said in a Feb. 1 e-mail.
Dow officials in December had said the firm would sell businesses with $1 billion in combined revenue in the next year.
The company — one of the world's largest plastics and chemicals makers — is working to recover from 2012, in which total sales fell 5 percent and profit plummeted more than 60 percent.
Plastics-related businesses accounted for almost half of Dow's sales in 2012.