DL Chemical buying specialty polymer maker Kraton for $2.5 billion
Headquartered in Houston, Kraton produces resins and bio-based products derived from pine wood pulping co-products.
Specialty polymer and biomaterials maker Kraton Corp. is being purchased by Korean petrochemical company DL Chemical Co. Ltd. for US$2.5 billion.
Headquartered in Houston, Kraton produces resins and bio-based products derived from pine wood pulping co-products. Applications for the company’s materials include adhesives, coatings, consumer and personal care products, sealants and lubricants, and medical, packaging, automotive, paving and roofing products.
“We believe DL Chemical has the industry presence and resources to continue to support the growth of Kraton’s business on a global scale,” said Kevin M. Fogarty, Kraton’s president and CEO in a news release.
DL is said to be the world’s largest producer of polybutene with a production capacity of 440 million tons per year. The firm also makes specialty polyethylene resins and oligomers.