Bayer MaterialScience sells Viverso to Nuplex Industries
All 165 employees will transfer under the same conditions
Bayer MaterialScience has signed a contract for the sale of its Viverso GmbH subsidiary to Nuplex Industries Ltd., for EUR 75 million. A leading manufacturer of polymer resins based in New Zealand and Australia, the company has its roots in our industry. We will thus divest a certain part of our conventional coating resins business, which does not fit our current growth strategy. The transaction is still subject to the approval by the relevant antitrust authorities. We expect the sale to close by the end of the year. The purchase price amounts to EUR 75 million.
All 165 employees of Viverso will transfer with the business under the same conditions. The employee representatives were involved at an early stage of the project; employees were informed about the situation. "It was important to inform our employees face to face and to respond to their questions. Together with the works council we provided all relevant information for the time being,“ said Dr. Reinhard Kaufung, managing director. “This dialogue will continue."
In addition to Viverso GmbH and all associated plants and assets, the transaction also includes selected product groups that Viverso currently manufactures for Bayer MaterialScience companies under a toll manufacturing agreement. Also included in the sale are the Viverso, Roskydal®, Alkydal®, Tungophen® and Resistherm® brands.
Headquartered in Bitterfeld, Germany, Viverso was established in early 2008 with a specially developed business model centered around an Internet-based, highly standardized distribution concept.
