Beachwood, OH /PRNewswire/ - OMNOVA Solutions Inc. (NYSE: OMN) announced today that it has acquired Resiquímica, S.A., a Portugal-based producer of resins and binders for the coatings and building and construction industries. Resiquímica's aqueous polymer emulsions and solvent-borne alkyd and acrylic resins are key elements used in a wide variety of residential and industrial coatings. Additionally, unsaturated polyester resins from Resiquímica are targeted at demanding applications in marine, food storage tanks, and more. Geographic markets served by Resiquímica include Portugal, Spain, France, and North Africa.
"This is another important milestone in OMNOVA's path to becoming a premier global specialty solutions company. The acquisition of Resiquímica expands our technology and product offerings in the coatings and construction industries, strengthens our position in the EMEA region and enhances production flexibility and capabilities for our specialty business," said Anne P. Noonan, President and CEO of OMNOVA Solutions. "We welcome the Resiquímica team to the OMNOVA family. The combined businesses are synergistic and will help accelerate growth."
About OMNOVA Solutions
OMNOVA Solutions Inc. is a global innovator of performance-enhancing chemistries and surfaces used in products for a variety of commercial, industrial and residential applications. As a strategic business-to-business supplier, OMNOVA provides The Science in Better Brands, with emulsion polymers, specialty chemicals, and functional and decorative surfaces that deliver critical performance attributes to top brand-name, end-use products sold around the world. OMNOVA's sales for the last twelve months ended May 31, 2018 were $772 million. The Company has a global workforce of approximately 1,800. Visit OMNOVA Solutions on the internet at www.omnova.com.
Resiquímica S.A., a company based in Sintra, Portugal with more than 120 employees, is dedicated to producing and marketing polymeric binders for the paint, adhesive and composite industries, serving both the national and international markets efficiently, through a strategy of continuous innovation and growth.
This press release includes "forward-looking statements" as defined by federal securities laws. Words such as, but not limited to, "will," "may," "should," "projects," "forecasts," "seeks," "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "optimistic," "likely," "would," "could," "committed," and similar expressions or phrases identify forward-looking statements. Forward-looking statements reflect management's current expectation, judgment, belief, assumption, estimate or forecast about future events, circumstances or results and may address business conditions, prospects, operations, and strategy, among other matters. If underlying assumptions prove to be inaccurate, or unknown risks or uncertainties arise, actual results could vary materially from these expectations. Factors that could cause OMNOVA's actual results to differ from those described in the forward-looking statements can be found in OMNOVA's Form 10-K for the year ended November 30, 2017, which has been filed with the Securities and Exchange Commission and is available on OMNOVA's website (omnova.investorroom.com) and on the Securities and Exchange Commission's website (www.sec.gov). Forward-looking statements speak only as of the date they are made and OMNOVA does not undertake any obligation to update the forward-looking statements to reflect new information or future events.
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