Cisco sells its European polyurethane system materials business to h.i.g.capital
Recently, kostron officially completed the sale of European polyurethane system materials to h.i.g.capital. The transaction cost nearly 100 million euros. European mistakes include multiple units in the Netherlands, Denmark, Spain, Germany and other businesses in Italy. The Department has about 250 employees and annual sales of 230 million euros. The sale of the system materials business can help cosine to further optimize its portfolio The system material business department can provide customized polyurethane system materials for customers. After h.i.g. capital became a new shareholder, the European polyurethane system materials business plans to position itself as an independent and professional polyurethane system materials supplier specialized in serving medium-sized customers. At the same time, the business unit will be renamed plixxent and become a new business unit In early June this year, covestro disclosed plans to sell the division, saying the move would focus the company on future growth and value creation Thomas Toepfer said: "our systems materials business unit can provide customized solutions to meet relevant market needs. However, in such a mature polyurethane market in Europe, we hope to focus on a more segmented market to effectively meet the needs of customers. " As the main supplier of polyurethane, Cisco will continue to keep close contact with the system materials business department hig company adopts the investment strategy of "acquisition and construction", mainly acquiring small and medium businesses of other enterprises. Cisco intends to further expand its Pan European business and will build a strong and independent European polyurethane system materials business unit, focusing on medium-sized customers.
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