The affiliate of Sun European Partners, LLP has decided to sell Elix Polymers, a leading manufacturer of ABS (Acrylonitrile-Butadiene-Styrene) resins and derivatives in Europe, to Sinochem International (Overseas) Pte. Ltd. for €195 million. Although an agreement has been signed about the sale, the transaction is subject to customary regulatory approvals.
Elix Polymers has its headquarters in Tarragona, Spain. Its products are used in a wide range of sectors such as healthcare, automotive, consumer and others.
In 2012, an affiliate of Sun European Partners has taken over Elix. Since its takeover, under the guidance of the Sun European Partners, LLP, Elix has undergone the transformation from a production focused unit into a market leader offering best-in-the class products and services. Taking up a number of productivity improvement steps, introducing latest management technique ‘the lean manufacturing’ and commercial excellence, Elix made a tremendous improvement in productivity and received a record level of customer satisfaction and pushing sales to a high level.
“We are delighted with the progress Elix Polymers has made during Sun’s ownership and we wish them continued success into the future under their new ownership”, said, Lionel de Posson, Managing Director at Sun European Partners. “Spain is an attractive market for Sun and we are actively looking to make further investments in the country.”
“This is an exciting next step for Elix Polymers as we look to build on the solid platform which Sun has helped us develop under their ownership”, commented, Wolfgang Doering, CEO of Elix Polymers.
Elix strength lies in continuous improvement, innovation, state-of-the-art technology, a high level of experience in the sales and technical marketing departments along with a team of professionals who make up the human capital of Elix Polymers.