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Lubrizol to acquire Noveon

From Rubber & Plastics NewsCleveland, Ohio-Lubrizol Corp. has signed a definitive agreement to purchase Noveon International Inc. for $1840 million. The deal is subject to regulatory approval and is expected to close within three months.Combined, the two firms would post annual sales of about $3.2 billion. Lubrizol said Noveon would complement its existing businesses in fluid technologies and will expand the firmĀ“s application base within the personal care and specialty coatings market. Lubrizol expects the transaction to yield about $40 million in cost synergies.Noveon’s products include its Estane-brand thermoplastic polyurethane and Hycar-brand reactive liquid polymers for engineering adhesives and water-borne acrylic emulsions for performance coatings.”

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