Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Nuplex to buy rival Acquos’s Masterbatch units

Nuplex to buy rival Acquos’s Masterbatch units

Aug. 18 (BusinessDesk) – Nuplex Industries Ltd., the specialty chemicals maker, has reached an agreement to buy rival Acquos Pty’s Masterbatch unit.

The acquisition is expected to add to earnings in Nuplex’s 2012 financial year, and the resins maker will make a further announcement once the Australian Competition & Consumer Commission has decided whether to sign off on the deal. No price was disclosed.

“Acquos’s Masterbatch business has an extensive technical portfolio and global best-practice processes, which if acquired would complement our existing operations in this market,” chief executive Emery Severin said in a statement.

The deal comes before Nuplex’s scheduled annual result on Monday, which is forecast to show an 8.8% fall in normalised net profit to $65.2 million, according to broker Forsyth Barr. Still, the broker expects revenue to gain 3.9% to $1.52 billion.

The purchase will be Nuplex’s second in the past two months after it teamed up with RPC Technologies to buy Australia’s glass reinforced plastic pipes maker Fibrelogic Pipe Systems for A$26 million in June.

Privately owned Acquos bought the Masterbatch group in 2006 from Ciba Speciality Chemicals, and later purchased Clariant’s Australian masterbatch business. The unit is one of Australia’s biggest manufacturers of concentrated pigments and additive masterbatches for the plastics industry, according to Acquos’s website.

Nuplex’s shares were unchanged at $2.43 in trading yesterday, and have dropped 31% this year.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Energy: New Zealand Could Be World’s First Large-scale Producer Of Green Hydrogen

Contact Energy and Meridian Energy are seeking registrations of interest to develop the world’s largest green hydrogen plant. The plant has the potential to earn hundreds of millions in export revenue and help decarbonise economies both here and overseas... More>>

MBIE: 36th America’s Cup Post-event Reports Released

Post-event reporting on the 36th America’s Cup (AC36) has been released today. The reports cover the delivery of the event by Crown, Council and America’s Cup Event Limited, economic impacts for Auckland and New Zealand, and delivery of critical infrastructure... More>>

Fonterra: Farmer Feedback Set To Shape Revised Capital Structure Proposal

With the first phase of Fonterra’s capital structure consultation now complete, the Co-op is drawing up a revised proposal that aims to reflect farmers’ views. A number of changes are being considered to the preferred option initially put forward in the Consultation Booklet in May... More>>

Statistics: Household Saving Falls In The March 2021 Quarter

Saving by New Zealanders in the March 2021 quarter fell to its lowest level in two years after rising sharply in 2020, Stats NZ said today. Increases in household spending outpaced income growth, leading to a decline in household saving from the elevated levels that prevailed throughout 2020... More>>