Bakelite Synthetics has entered into a definitive agreement to purchase and acquire LRBG Chemicals, Inc., a Canadian resin manufacturer and developer, with facilities in Longueuil (Montreal) Quebec. With the completion of this acquisition, Bakelite Synthetics adds to its strong portfolio of products and customers, as well as builds on its growth strategy of sustainably delivering innovative solutions to customers.
The press release stated that, LRBG Chemicals manufactures high-quality resins and derivative products that are used in a wide variety of applications serving the building and construction, transportation, industrial and chemical intermediate markets worldwide. Its plants, knowledge and experience have been developed over the last eighty years and it has a customer-driven research and development focus with strong technical knowledge and support, closely aligned to Bakelite Synthetics business model.
“This acquisition allows Bakelite to expand its footprint into Canada and to better serve the northeastern regions of Canada and the U.S.,” said JP Aucoin, President and Chief Executive Officer of Bakelite Synthetics. Aucoin added, “We look forward to welcoming LRBG Chemicals’ associates to Bakelite Synthetics, with its rich history of customized product development and customer service, as we seek to expand our combined businesses”.
