TSRC announces to acquire Dexco Polymers in the U.S.
[Taipei] TSRC Corporation (TSRC,2013 TT) announces that it has today entered into an agreement to acquire Dexco Polymers. Dexco is a joint venture equally owned by affiliates of ExxonMobil Chemical Company, a division of ExxonMobil Corporation and The Dow Chemical Company. Dexco is a major U.S. producer of differentiated, higher value-added styrene-isoprene-styrene (“SIS”) and styrene-butadiene-styrene (“SBS”) block copolymers (known as Styrenic Block Copolymers (“SBCs”)). The acquisition of Dexco will transform TSRC into one of the top five global players in the SBC business.
Headquartered in Houston, Texas, Dexco was established in 1988 and currently operates a production facility in Plaquemine, Louisiana. High-end differentiated products, used in the manufacture of adhesives and personal care product applications, make up the majority of Dexco’s revenues. Dexco is also a pioneer in research and development of new products.
The acquisition represents an important step in TSRC’s global expansion. The President and CEO of TSRC, Mr. Wei-Hua Tu said: ”TSRC has a long history of operating in the SBS, SIS and SEBS segments to accommodate various customer needs, and enjoys a unique competitive advantage in customized products. Dexco’s Vector® brand is recognized as a leading brand name for differentiated and high-end products in the global synthetic rubber industry, and there products are highly complementary to TSRC’s existing business. Dexco’s sales are also geographically complementary to TSRC’s: Dexco sells primarily into America and Europe, TSRC’s platform in strongest in Asia. The acquisition of Dexco will enable TSRC to become a fully integrated global supplier of SBC products meeting the needs of our clients on a worldwide basis. Following the acquisition, TSRC will be able to develop more differentiated and higher value-added products to offer our customers and this will strengthen our leadership in the international synthetic rubber market.”
The acquisition is subject to customary closing conditions, including regulatory notices and approvals in Taiwan and in the United States and it expected to close early in the second quarter of 2011.