DyStar
(Source: DyStar)
Specialty chemical company DyStar has announced the sale of its auxiliary manufacturing site located at Pietermaritzburg/South Africa. Oakland Polymers Pty. Ltd., a local manufacturer, has acquired DyStar’s manufacturing facility and will take over the site to expand their polymer business.
Under the sale and purchase agreement, DyStar divested the entire facility, which is approximately 12,000 m², to Oakland Polymers and Oakland Properties. Operations of Dystar Africa Pty. Ltd., Pietermaritzburg, a subsidiary of DyStar Singapore Pte. Ltd., Singapore, will continue to lease part of the premises from Oakland for office and warehousing use.
»The acquisition gives both companies an opportunity to build stronger and robust synergies together as Oakland Polymer expands its footprint in the manufacturing sector in the coming days.«
The sale of the manufacturing site at DyStar Africa is part of ongoing efforts to reconsolidate DyStar business resources in Turkey, Africa & Middle East (TAME) region, with a focus on improving productivity and utilization rates. The company will enter a toll manufacturing agreement with Oakland to leverage on their expertise in chemical manufacturing.
All employees at the manufacturing site have already been informed of the acquisition. Compensation packages are offered to affected colleagues as well. Customers have also been informed of undisrupted supply to their orders during the transition period and are further assured of a seamless customer journey going forward when the acquisition is completed.
