Synthomer has announced that it has completed its acquisition of Omnova Solutions Inc.

The acquisition materially strengthens Synthomer's presence in North America, as well as increases its presence in Europe and Asia, including further penetration into the high growth Chinese market. Synthomer intends to use best practices from across the enlarged group to improve productivity and service.

Synthomer becomes a major player in water-based polymer products with greater customer reach and strong operational capabilities.

The acquisition is expected to result in estimated recurring run-rate pre-tax cost synergies of US$29.6 million per annum by the end of the third year following completion. The acquisition is expected to be earnings accretive in the first full financial year following completion and accretive thereafter. Omnova will be integrated into Synthomer accounts with immediate effect. See http://omnova.com