TAMPA – COMPOSITES & POLYCON 2007 (Oct. 17, 2007 ) – Following its recent purchase of the No. 1 producer of methyl ethyl ketone peroxides in North America, Syrgis Performance Products today announced the renaming of the Norac organic peroxides business units in the United States to Syrgis Performance Initiators Inc., and in Europe to Syrgis Performance Initiators AB.
“Syrgis Performance Initiators is a new identity, but fundamentally the company maintains its entrepreneurial spirit, dedication to making high-quality products, and exceptional customer service,” said Syrgis Performance Products CEO Andy Harris. “This newest member to the family will operate with a high degree of autonomy that lets the company build on its strengths, yet take advantage of the financial, operational and marketing support under the Syrgis group umbrella — adding more breadth and depth to do more for our customers.”
The acquisition is expected to add more than $50 million in annual revenue to the Syrgis group. In addition to manufacturing and distribution facilities in Sweden and Helena, Ark., Syrgis acquires the considerable technical, sales, and manufacturing staff, support and services with the purchase. The acquisition of this organic peroxides line also brings an extensive distribution network in the United States with leading companies like Composites One, North American Composites, and Ashland Distribution. The manufacturing and distribution operations in Sweden are also world class and complement the growing market in Europe and the Middle East.
“We are pleased to be operating under the common Syrgis name with a singular global focus on providing the best value, initiator solutions for our customers around the world,” said Benny Fahrman, managing director in Europe, Syrgis Performance Initiators AB.
Syrgis Performance Initiators becomes the North American market leader in the production of methyl ethyl ketone peroxides in North America, ranking third in the world for organic peroxides used in plastics and reinforced thermoset composites. Organic peroxide formulations are used in a wide range of consumer and industrial goods including shower enclosures, boats, plastic pipes, wind energy turbine blades, truck bed liners and mine bolts.
“Since 1953, businesses have relied on Norac’s organic peroxide products to meet their needs within the plastics and reinforced thermoset composites markets,” said Douglas Hubbard, business manager for North America, Syrgis Performance Initiators. “The creation of the new company only stands to strengthen the foundation on which we’ve built our success in the industry. It may be a new global name, but it’s the same products, familiar faces and great customer service — all with keeping an eye to the future.”
About Syrgis
Syrgis is an international diversified group of fine and specialty chemical manufacturers. Headquartered in Cincinnati, Ohio, Syrgis is a suite of companies that includes Lycus, Ltd., P Chem, Inc. and Syrgis Performance Initiators, Inc. — all worldwide leaders in their respective niche markets. Syrgis companies deliver high-quality products that meet the exacting standards of leading chemical solution providers in the automotive, building materials, composites, cosmetic, mining, oil and gas, paints and coatings, personal care, plastics, renewable energy, transportation and water treatment industries. With strong backing from Cleveland, Ohio-based Edgewater Capital Partners, Syrgis is dedicated to delivering the high-performance products its customers need, supported by exceptional customer service and technical application expertise.
To learn more, please visit www.syrgis.com.
