Johnson Matthey has completed its acquisition of the Synetix division of Imperial Chemical Industries PLC (ICI) in all territories except India. Completion of the purchase of those Synetix businesses which are owned by ICI India Limited remains subject to the approval of ICI India Limited’s shareholders. This is expected before the end of 2002.
In September, ICI had agreed to sell its catalyst business, Synetix, to Johnson Matthey plc for a total of £260 million ($404 million) in cash. Net proceeds after tax and other costs are expected to be about £210 million ($326 million), and will be used to reduce indebtedness.
Synetix focuses on the sales of catalysts and service technologies in key market segments of edible oils, polymerization, methanol, ammonia, oil and gas, chemicals, fine chemicals and oleochemicals. The business has catalyst production facilities in several countries and is headquartered at Billingham in the U.K. It has approximately 800 employees, who will transfer to Johnson Matthey, and about 5,000 customers in 85 countries.
For the year ended Dec. 31, 2001, Synetix had sales of £146 million ($212 million).
Flint Ink Introduces New UV Ink System for Synthetic Substrates
Flint Ink, Ann Arbor, MI, has introduced MatrixCure-NP UV ink systems, a highly runnable, energy-curable offset UV system that offer superior adhesion and scratch resistance on a wide range of plastic and other non-porous substrates.
The new ink system is the company’s most recent addition to its advanced line of curable, runnable, and functional offset UV ink systems.
“New MatrixCure-NP ink system gives printers the capability to efficiently meet the growing demand for vivid, glossy printed products made with popular non-porous substrates,” said Jim Bennett, vice president, commercial, for Flint Ink North America. Applications include phone, credit and frequent flyer cards, tags, P-O-P displays, signs, children’s books and game pieces, maps and agri-spikes.