Nuplex says acquisition by Allnex likely to close next month

摘要

Polymer resins producer Nuplex Industries Ltd. (Auckland, New Zealand) has announced a big increase in profits for the company's fiscal year ended 30 June 2016. Nuplex says net profits for the fiscal year increased by 18.2%, compared with the previous fiscal year, to NZ$87 million ($63 million). Full-year sales increased 1.9%, to NZ$1.38 billion. Fourth-quarter figures have not been disclosed. Nuplex says that the previously announced acquisition of Nuplex by coating resins producer Allnex Belgium (Brussels), which is owned by private equity firm Advent International, is expected to be completed in September. In February, Allnex offered to acquire all of the shares in Nuplex via a scheme of arrangement. Allnex is the former coating resins business of Cytec Industries, which Advent acquired in 2013.