June 29, 2007
Lion Copolymer Completes Chemtura EPDM Acquisition
BATON ROUGE, La., June 29 /PRNewswire/ -- Lion Copolymer, LLC (LCP) has completed its acquisition of the Ethylene Propylene Diene Monomer (EPDM) and chemical foaming agent (CFA) assets associated with Chemtura's plant in Geismar, Louisiana. The acquisition was completed effective June 29, 2007.
Located on the Mississippi river south of Lion Copolymer's Baton Rouge headquarters, the Geismar facility manufactures ROYALENE(R), ROYALEDGE(R), ROYALTHERM(R), and TRILENE(R) EPDM, as well as CELOGEN(R) CFA. Lion Copolymer, which manufactures styrene butadiene rubber (SBR) in Baton Rouge, projects combined annual sales of nearly $500 million after the acquisition.
According to Peter De Leeuw, LCP Board Chairman and Managing Director of equity sponsor Lion Chemical Capital, the acquisition leverages the firm's extensive EPDM manufacturing and marketing experience. "Copolymer manufactured and sold EPDM for many years, so this restores an important portion of the Lion Copolymer product portfolio -- and because this acquisition allows us to better serve key markets that rely on EPDM, as well as SBR, it also reflects our focus on the customer, which is one of our core values."
Paul Saunders, CEO, adds that Lion Copolymer is now America's only diversified manufacturer of all major types of synthetic rubber. "Our management team's rubber-industry experience is a strong competitive advantage, and the Geismar facility's capabilities and nearby location make it an excellent fit with significant potential for synergy and growth."
Lion Copolymer, located in Baton Rouge, is a portfolio company of Lion Chemical Capital LLC, a private equity firm focused on the chemical industry. The firm's Baton Rouge SBR plant has been in continuous operation since 1943. EPDM is widely used in automotive weatherstripping and hoses, appliance gaskets, single-ply roofing and electrical insulation. CFAs are used in expanded rubber products such as weatherstripping, shoe soles and vibration dampeners. SBR is used primarily in automotive and truck tires.
Lion Copolymer, LLC
CONTACT: Paul Saunders of Lion Copolymer, LLC, +1-225-267-3440