UK specialty chemicals group Yule Catto said Monday it acquired Malaysian polymers producer Quality Polymer from China's Nippon Paint for GBP10 million ($15.7 million).
Quality Polymer has 30 staff working at its factory located near Yule Catto's existing plant in the Malaysian industrial town of Pasir Gudang.
"This acquisition will allow Yule Catto to expand its South East Asian production and sales of acrylic and vinylic polymer dispersions for the adhesives, building products and coating sectors," Yule Catto said in a statement.
Quality Polymer has annual sales of some GBP10 million, it said, adding that the transaction is expected to be earnings enhancing for the group in 2012.
