MOUNT LAUREL, NJ (January 7, 2014) – PMC Group NA, Inc. (“PMC”) announced today that it completed its purchase of AkzoNobel’s Primary Amides chemicals business effective December 31, 2013. Financial details were not disclosed.
Under the terms of the agreement, a manufacturing facility in Kyungju, South Korea, and all 37 employees will transfer to PMC Group with immediate effect, along with the erucamide, oleamide and other primary and secondary amides sold under the Armoslip® trade names.
Debtosh Chakrabarti, President of PMC stated, “We are excited about this acquisition, which adds to our portfolio of specialty chemicals derived from renewable oleochemicals. The business complements PMC’s leading global position in polymer additives and provides us with a strong manufacturing location in Asia for these specialty products.”
Primary Amides products are used primarily in the polymer industry to create plastics bags and plastic films for packaging.