Rhodia Buys Plastics Compounder in India

Rhodia says it has agreed to acquire PI Polymer, the engineering plastics compounding business of chemical manufacturer PI Industries Ltd. (Udaipur, India). Financial terms were not disclosed. PI Polymer expects to achieve sales of $13 million in the fiscal year ending March 31, 2011. The acquisition price represents an estimated 2010-11 Ebitda multiple of about 7x, Rhodia says. The deal covers one compounding plant, as well as R&D capabilities, customer base, and a logistics network, Rhodia says. The deal is expected to close by the end of March 2011. The...

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