Dynea said the sale will allow it to focus on growing markets in Eastern Europe and Asia Pacific. The business has been bought by Teachers’ Private Capital, the private investment division of Ontario Teachers’ Pension Plan.
“The divestment of Dynea’s North American operations is a logical step in our strategy to take a leading position in the markets where we operate,” said Roger Carlstedt, Dynea president and CEO. “The transaction also gives us the opportunity to create added value by investing in new technology to support our customers.”
Dynea, whose products are used in wood-based panels, has 12 production units in North America, with 700 employees in Canada, the US and Mexico. The divison has annual sales of more than €450m.
