Premix Oy Acquires Optatech

Milton, Wisconsin - DC The Finnish specialty thermoplastic compounding company Premix Oy has acquired 89 % of the shares in Optatech Oy, a Finnish specialty plastics developer and producer.

The main products developed by Optatech include Pacrel TPV, a special acrylic modified elastomer; produced through a patented solid state polymerization, and Lubotene, a special silicone grafted polyethylene intended for applications recalling low friction factor and release properties.

Optatech is a spin-off from Neste Oy, the Finnish oil giant, which withdrew from plastics operations in 1990s. It was founded by Dr. Tomi Heiskanen, previously Neste´s technology director, and Dr. Christer Bergström and it started its operations in 1995 by buying several Neste patents on specialty polymers. The founders, together with SITRA, the Finnish Innovation Fund, will sell their shares to Premix Oy. Proventia Group, an environmental technology company, will remain as owner with about 11% of the shares.

Optatech has two joint ventures in China. Yangzhong Opta Chemical produces and markets non halogen flame retardant cable compounds and Nanjing Jinling Opta Polymer produces PP/EPDM and the Pacrel base polymer that Optatech is selling to the compounding industry outside China.

The combined revenue of the JV's and Optatech is 5 million Euros. The mother company has employed four people whereas the JV employs 65 people in total. Premix has resources and determination to accelerate the growth of the two China joint ventures, to further increase their healthy growth by introducing Premix' own products to be produced in China and to import the currently produced grades into Europe and USA.

SOURCE: Premix Oy