TSRC Corp. has wrapped up its acquisition of Dexco Polymers LP of Plaquemine, La., giving the Taiwanese firm a foothold in the global market for styrenic block copolymers.
Most of Taipei-based TSRC's sales have been centered in Asia, but Dexco gives it access to markets in North America and Europe, where the company previously had not done much business. TSRC bought Dexco late last year for $168 million from Dow Chemical Co. and ExxonMobil Chemical Co., which operated it as a joint venture.
TSRC President and CEO Wei-Hua Tu and several other TSRC executives recently visited Plaquemine to close the deal.
Acquiring Dexco will make TSRC one of the top global producers of SBC and create a global leader in the industry, Tu said in a phone interview.
Tu described Dexco's materials portfolio, including Vector-brand SBCs, as high-end, including applications in adhesives, consumer disposables and polymer modification.
We're going to re-arrange and maximize the product portfolio, Tu said.
Dexco President Chris Mudd and other Dexco executives will remain with the firm, which will continue to operate as Dexco Polymers.
We want to provide consistency with customers, Tu said of the decision to retain Dexco personnel. Dexco has very deep customer relationships in North America and Europe.
Mudd said, We're looking forward to learning and growing together.
Dexco employs about 70 and operates almost 140 million pounds of annual capacity. TSRC declined to release Dexco's sales.
Tu added that TSRC is still looking for potential acquisition opportunities in the U.S. and also in Europe in the next five to 10 years. The firm also will look into expanding Dexco's SBC capacity in Plaquemine.
TSRC produces styrene-butadiene rubber and polybutadiene rubber. Its SBR is used in passenger tires, shoe soles, conveyor belts, tank and tractor tracks and other products. The firm also makes Taipol thermoplastic elastomer for adhesives, industrial compounds and shoes.
The Dexco acquisition will make TSRC one of the world's five largest SBC makers, company officials said. Prior to the acquisition, TSRC had ranked eighth in that field.