The Asian Chemical Group SCG Chemicals CO Ltd has acquired a 51% stake in Norner Holding AS from the Fund Energy and Environmental Capital and other shareholders. The remaining shares will be acquired by September 2015.
SCG Chemicals is part of Siam Cement Group (SCG) and is one of South East Asia's leading companies. SCG has interests in more than 200 companies with about 50,000 employees including over 50 companies in its chemistry division. SCG Chemicals wishes, through this strategic investment, to further strengthen Norner as a global independent innovation partner for the entire plastics value chain. "Norner is the leading institute for polymer and plastics and will be an important contributor for SCG Chemicals in several areas of product innovation" says Cholanat Yanaranop, President of SCG Chemicals.
Norner currently contributes innovation, counseling and testing for a broad portfolio of businesses in need of plastic expertise. The clients are mainly in the sectors of oil & gas, packaging and consumer products and petrochemicals.
SCG Chemicals focuses on strengthening, developing and investing in research expertise to enhance its portfolio of products with high margins. Norner has achieved a reputation as an independent supplier of high quality, integrity and service and states that they will continue to provide services to all their customers in a confidential and independent basis.
"We are very proud to have SCG Chemicals as a strategic investor and are confident that their strategic vision and financial strength will provide Norner a solid foundation and catalyze further growth internationally" says Tine Rørvik, CEO Norner. CEO of Maturo Kapital AS, Leif Svarstad, who heads the fund Energy and Environmental Capital (Energi- og Miljøkapital), has spent the last 7 years being chairman of Norner. He is very pleased with the negotiated agreement that total will amount to around 69 Mill NOK. "Energy and Environmental Capital is very pleased with the SCG as new owners that will strengthen further growth for Norner Group. This is a very good owner for the employees and secures a very good return for shareholders, "says Svarstad.