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Paramelt ventures further into adhesives

January 30, 2002 - Paramelt has finalised the acquisition of Scholten Adhesives B.V., the Netherlands. Scholten Adhesives is a long established producer of quality water based adhesives and glues for the paper and board industry. The company further produces a range of specialty polyurethane adhesives for building and construction uses.

Paramelt sees the acquisition as a strategic move forward into adhesives and aqueous dispersions. Scholten Adhesives was a subsidiary of AVEBE, world leader in potato starch and derivates. The company operates a site in Veendam, in the North Eastern part of the Netherlands and is strategically located to serve a large part of Europe.

Paramelt of Heerhugowaard, the Netherlands enjoys a turnover of Euro 50 million, which is mainly derived from formulated waxes and hotmelt adhesives to the packaging, cheese and cosmetics industry. Specialised polymer and wax dispersions for a variety of industrial applications complement the product range.

The company has recently commissioned a new production line for pressure sensitive adhesives. Scholten Adhesives, which has a turnover of Euro 15 million, will continue to operate under the Paramelt name. Paramelt now employs 170 people with sales offices in France, Germany and Sweden. The company exports 75% of it´s turnover to more than 60 countries worldwide.