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October 2014 – SYNTHRON is going to increase its capacities of production with the acquisition of CHARTWELL

 

 Protex International buys Mereco and Chartwell

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Published: October 13, 2014 by Nikki Weller

Protex International has made two new acquisitions in the US in recent weeks

FRANCE-US

Protex International, a privately owned French speciality chemicals company, has acquired the Mereco Technologies group of companies, which CEO Robert Moor said, « continues its pursuit of external growth and strengthens its base in electronic chemistry ». The company subsequently also announced the acquisition of Chartwell International, a supplier of silane- and VOC-free adhesion and bonding promoters. Terms were not disclosed in either case. Both acquired companies are in the US.

Mereco will remain legally autonomous but will move from its base at West Warwick, Rhode Island, to be integrated with an existing subsidiary, Protavic America, in Londonderry, New Hampshire. Here it will jointly develop new customer-specific and other products for electronic applications. It will also work with Protavic International at the Synthron site in Auzouer-en-Touraine, France.

Protex makes various speciality chemicals for electronics, including conductive glues, speciality resins and encapsulants, adhesives, optical fibres, LEDs, fuel cells and solar and photovoltaic cell technologies. Its stated aim is to strengthen its presence in the key partner lists of its main customers and to be a major

player, with state-of-the art products. As well as the US and France, it has Protavic subsidiaries in China and Korea.

Electronic chemistry now represents about 10% of Protex’s turnover, which is forecast at €70 million this year, with a target of €00 million in 2015. This sector has grown 25% in the past five years and is seen as a cornerstone of future growth. The company itself, which is still family-owned, began as a maker of textile auxiliaries and has expanded into many other niches in paper, paints, agriculture, perfumes, water treatment and environmental biotechnology.

Chartwell will also be integrated into Synthron and its products’ will be transferred into an existing Protex site in Massachusetts. It will similarly collaborate with the Auzouer-en-Touraine unit, where Protex already makes products for the European market in the paints and coatings sector, but they will retain separate R&D centres so as to develop in parallel.

From Online Issue: October 2014